Answer the following statement(s) true (T) or false (F)
1. U.S. legal and political systems are generally very favorable to new business creation, enabling people from a variety of backgrounds, ethnic groups, income brackets, and age groups to start their own business.
2. The number of businesses in the United States has decreased steadily over the past decade.
3. Small businesses are important players in the U.S. economy because they represent about half its output and employ about half the private sector work force.
4. Self-employment as a primary occupation has declined by over 2 percent.
5. After the first year of being in business, an entrepreneur is guaranteed a small profit.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
5. FALSE
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In which of the following situations would a CPA be considered independent?
a. A CPA has obtained an auto loan from a banking client. b. A CPA has obtained a 90-day signature loan from a client. c. A CPA has obtained a loan for investment purposes from a client. d. A CPA has obtained an interest-free loan from a banking client.
Which of the following would not be an example of the use of reminders and attention focusers?
a. Placing a piece of paper on a door with a letter on it b. Making a list of things to be accomplished today c. Placing the project with the most importance at the center of the work space d. Removing a candy dish from a coffee table
Sadler Enterprises The following information is from Filmore's 2012 accounting records. Sales $203,000 Beginning inventory 32,800 Purchases 125,500 Gross profit percentage 45% Refer to the information provided for Sadler Enterprises. Using the gross profit method, estimate Sadler's cost of goods sold at year-end
A) $111,650 B) $116,100 C) $91,350 D) $93,150
The promotion component of the marketing mix involves:
a. pricing strategies. b. personal selling. c. product packaging. d. manufacturing strategies.