Which of the following is the main purpose of the feasibility study?

a. to establish a base for further planning
b. to help investors know whether or not to fund the company
c. to help the entrepreneur reach a “go” or “no-go” decision
d. to solidify the image and purpose of the business

c. to help the entrepreneur reach a “go” or “no-go” decision

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During 2016, a company wrote off $7,500 in uncollectible accounts receivable. At the end of the year, bad debt expense was estimated using a percent of gross sales. In 2017, the company collected $1,500 from an account that was written off in 2016. Recording this collection would include

A) a debit to Retained Earnings. B) a credit to Allowance for Doubtful Accounts. C) a decrease to gross receivables. D) an increase to net receivables.

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In the EU, _____________ protects property rights of an innovation that is absolutely novel and not available to the public in any form.

Fill in the blank(s) with the appropriate word(s).

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Which of the following statements is not correct with respect to Roth IRAs?

A) Contributions made to a Roth IRA are not tax deductible, but are tax-free when withdrawn.
B) Withdrawals of contributions made at any time are not subject to taxation.
C) Withdrawals of investment earnings are not subject to taxation as long as the taxpayer is at least 55 years old and the Roth IRA has existed for at least five years.
D) Withdrawals of investment earnings are not subject to taxation if they are used to (up to $10,000 worth) to buy a first home, and if the Roth IRA has existed for at least five years.

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Omega Company reported the following information for the company's two products:   Product X Product YSelling price per unit$35  $25 Variable cost per unit 20   15 ?Assume that 75,000 machine hours are available; product X takes four machine hours to produce, and product Y takes two machine hours to produce. The company can sell all it can make of either product. Which of the following statements is true?

A. Product X should be produced because it provides a greater contribution margin. B. Product Y should be produced because more of it can be produced. C. Product Y should be produced because it will produce greater total profit. D. Both products provide the same total profit.

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