Which of the Following Is NOT a Myth About Small

question 13

Multiple Choice

Which of the following is NOT a myth about small businesses?

• A)There is not enough financing to start businesses.
• B)You need to make something if you are going to make money.
• C)You can never try again if you fail once.
• D)There is no flexibility when you own your own business.

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Definitions:

Adjusted Trial Balance

A list of all the accounts of a company, showing the balance of each after adjustments have been made for errors, omissions, or accruals.

Current Assets

Assets that are expected to be converted into cash, sold or used up within one year or within the entity's operating cycle, whichever is longer.

Total Assets

The aggregate of all assets owned by a business, evaluated at cost or market value on the balance sheet.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries have been made, used to prepare financial statements.