Working for a Very Large Organization in the Tractor Manufacturing

question 69

Multiple Choice

Working for a very large organization in the tractor manufacturing industry,John always heard complaints from customers about the parts and services aspects of the business.Taking an early retirement,John started his own business to specifically address the many customer complaints he had been hearing.Which of the following is most likely to be the factor that led John to the business idea?

• A) A similar business
• B) Chance happening
• C) Work experience
• D) Technology transfer

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Definitions:

Common Stock

Represents ownership shares in a corporation, giving holders voting rights and a residual claim on the company's assets and earnings.

Stockholders

Individuals or entities that own one or more shares of stock in a corporation, thus holding a portion of the company's equity.

Journal Entry

A record in the accounting books that notes all the financial transactions of a business.

Accounts Receivable

Money owed to a business by its clients (customers) resulting from the sale of goods or services on credit.