To a Part-Time Entrepreneur Pricing Is Very Important

question 84

Multiple Choice

To a part-time entrepreneur pricing is very important.Which of the following statements about pricing and costing is not true?

• A) People working part time can be prone to underestimate their costs.
• B) Central to figuring the real cost of your product is keeping good records.
• C) Pricing is often seen as a challenge by part-time businesses.
• D) A good way to get a realistic idea of pricing your product is to price competitors' products.

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Definitions:

Legal Actions

Formal steps taken within the judicial system, such as filing lawsuits or other court proceedings, to enforce or protect legal rights.

Bankruptcy Trustee

An official appointed by the court in bankruptcy cases to oversee and manage the debtor's estate, including the collection and disposition of assets.

Chapter 7

A provision of the U.S. Bankruptcy Code that involves the liquidation of a debtor's assets to pay off creditors.

Debtor's Estate

All legal rights, interests, and properties owned by a debtor at the time of bankruptcy filing.