An Entrepreneur Is a Risk-Taking Individual Who Acts to Pursue

question 192

True/False

An entrepreneur is a risk-taking individual who acts to pursue opportunities and situations others fail to recognize, or even view as problems or threats.

Recognize challenges and techniques in budgeting, including top-down and participative approaches.

Understand the concept and purpose of a budget in an organization.

Identify the difference between a strategic plan and a financial/budget plan.

Recognize the role of budgets in performance evaluation and cost control.

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Definitions:

U.S. Dollars

The United States' official medium of exchange, frequently employed as a standard in worldwide financial dealings.

Spot Market

An open financial market where commodities or financial instruments are exchanged and delivered right away.

Discount

To calculate the present value of some future amount.

Future

A standardized legal contract to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future.