Which of the Following Traits Act to Enhance Entrepreneurship

question 220

Multiple Choice

Which of the following traits act to enhance entrepreneurship?

• A) cunning and guile
• B) creativity and initiative
• C) shrewdness and the ability to lie with a straight face
• D) personality and the ability to spend money lavishly
• E) the desire to control the fate of others

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Definitions:

GAAP Constraints

Limitations or guidelines in Generally Accepted Accounting Principles that direct the application of accounting procedures.

Timeliness

The provision of information to users quickly enough for it to influence their decisions, a crucial aspect in financial reporting.

Accounting Assumptions

Foundations that underlie the financial statements, such as the assumption that a company will continue to operate (going concern assumption).

Conventions

Established practices or agreed-upon methods in accounting that guide the preparation and presentation of financial statements.