Which of the Following Is an Example of a Second

question 8

Multiple Choice

Which of the following is an example of a second career entrepreneur?

• A) Cynthia,a 24-year-old,starting a consultancy business after graduating from college.
• B) Mark,a 30-year-old,starting a new business venture in stock trading after the failure of his previous business in real estate.
• C) Ursula,a 60-year-old,starting a business in shrimp trading after being retired for 5 years.
• D) Timothy,a 62-year-old,joining a real estate agency as a sales representative,after being retied for 4 years.

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Definitions:

Fair Value

An estimated market value of an asset or liability, reflecting current market conditions rather than historical cost, used in financial reporting.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Equity Interest

Ownership interest in a company, usually in the form of stocks, representing a share of the earnings and assets of the business.

Cash Dividend

A payment made by a corporation to its shareholders, usually in the form of cash.