Answer the following statement(s) true (T) or false (F)
1. When borrowing from friends and family, it is better to treat the arrangement as a formal loan.
2. Crowdsourcing would be the fastest way of raising financial capital for your business.
3. You would like to raise funds for a foodbank in your local community. Kickstarter would be an excellent source for the initial funds.
4. In the investor model, crowdfunding backers will expect an equity stake in your business.
5. In the patronage model, investors will contribute to your project with no expectation of direct return.
1. True
2. False
3. False
4. True
5. True
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An operating loss carryforward occurs when
A) prior pretax financial income is insufficient to offset the current period operating loss. B) prior taxable income is insufficient to offset the current period operating loss. C) future pretax financial income is insufficient to offset a current period operating loss. D) future taxable income is insufficient to offset a current period operating loss.
When one of the following statements is true?
a. ERP evolved directly from MRP. b. ERP evolved into MRP and MRP evolved into MRP II c. MRP II evolved from MRP and MRP II evolved into ERP d. None of the above is true.
In team development, the goal of the team leader should be ______.
a. to create as many in-group members as possible b. to get the in-group members and the out-group members to get along with each other c. to move the team as expediently as possible to the 4th stage of performing d. to create an appropriate environment for storming and brainstorming
The time period assumption:
A. Prescribes that a company record the expenses it incurred to generate the revenue reported. B. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold. C. Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods. D. Means that a business is accounted for separately from other business entities, including its owner. E. Means that we can express transactions and events in monetary, or money, units.