Carol enjoyed yarn crafts but there were no yarn shops in her small town. She reasoned that there were many others nearby who might appreciate being able to purchase yarns and supplies without a long drive. Within a year her shop was profitable and expanding into larger space. Which of these statements best describes this situation?
A. Carol grew a business out of her personal experience.
B. Carol turned her hobby into a thriving business.
C. Carol accidentally stumbled upon a gold mine.
D. Carol used her work experience as a source of startup ideas.
Answer: B
You might also like to view...
Owners of Tri-States Industries, Ralph and Maureen, are sent a dividend check from the company. For this transaction, what is the effect on the accounting equation for Tri-States Industries?
a. Assets decrease and stockholders' equity decreases. b. Assets increase and stockholders' equity increases. c. Liabilities increase and stockholders' equity decreases. d. Liabilities increase and stockholders' equity decreases.
The representation of the self that comes to us from others is known as the ______.
A. mirror image B. looking glass self C. self-image D. perceived image
Auditors are responsible for obtaining reasonable assurance that the financial statements are free from material misstatements, including material misstatements related to noncompliance with laws and regulations
a. True b. False Indicate whether the statement is true or false
Select one of the following functional managers and discuss how they might use accounting information in their managerial role: marketing manager, operations/production manager, human resource manager, or finance manager