The Process by Which Enterprising Individuals Initiate, Manage, and Assume

question 45

Multiple Choice

The process by which enterprising individuals initiate, manage, and assume the risks and rewards associated with a business is known as a(n) :

• A) start-up.
• B) corporation.
• C) governmental agency.
• D) entrepreneurial venture.
• E) joint venture.

Understand the impact of public opinion on the formulation of public policy.

Analyze the factors contributing to the decline in political trust in the United States since 1999.

Describe the importance and method of obtaining a random sample in polling.

Evaluate the effects of cell phone usage on polling accuracy and its significance.

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Definitions:

Withholding Allowances

Amounts that taxpayers can claim to reduce the federal income tax withheld from their paycheck, based on their expected tax deductions and credits.

FICA Taxes

Taxes collected under the Federal Insurance Contributions Act, funding Social Security and Medicare, required to be paid by both employees and employers.

Two Jobs

Working for two distinct employers at the same time, often to increase income through additional work.

Wages

Payments made to employees for services rendered, typically calculated on an hourly, daily, or piecework basis, and subject to income tax.