Scenario C

question 44

Multiple Choice

Scenario C.Two entrepreneurs,Fred and Ming,were discussing the potential for success or failure of their ventures.They described their start-ups in the following manner:
1.Fred stated that he had very little money invested,but he was the first in the market with his product.
2.Ming stated that her investment in the business was very small and that her product was similar to those already in the market.
-According to the entrepreneurial strategy matrix,Ming's scenario can be described as involving

• A)low innovation/high risk.
• B)low innovation/low risk.
• C)high innovation/low risk.
• D)high innovation/high risk.
• E)high investment/no risk.

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Definitions:

Accounting Practices

Standard methods and procedures used in preparing financial records and reports.

Diverse

Refers to a variety or a mix of different elements, qualities, or individuals within a particular context.

Problems

Challenges or difficulties that need to be solved or addressed.

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) that aim to bring consistency to accounting language, practices, and statements globally.