An entrepreneur is someone who:
a. is a professional manager
b. has the entrepreneurial spirit and is employed inside a large corporation
c. accepts the risks of starting and running a business
d. manages a business that operates in more than one country
e. owns controlling interest in the stock of a major corporation
c. accepts the risks of starting and running a business
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Identify a true statement about customer complaints in the sales process.
A. A fair settlement made in the customer's favor helps to resell the company and its products. B. Avoiding complaints by setting high expectations is best. C. A customer who does not complain is a happy customer. D. It is wise to assume that all complaints are unjustified. E. Complaints are completely eliminated through personal visits by sales representatives.
Interim financial statements for a manufacturing business would report overapplied factory overhead as a deferred item on the balance sheet
Indicate whether the statement is true or false
Wesley buys a house for $1,000,000. He puts $400,000 down and borrows $600,000 from a bank, which takes a mortgage on the property to secure the loan. Wesley defaults, and when the bank forecloses on the property, it is worth only $500,000
There is a shortage of 100,000, as the foreclosure sale price was $500,000. The bank brings a legal action against Wesley. Which of the following can help the bank recover the shortage from Wesley? A) right of redemption B) lien release C) deficiency judgment D) garnishment
Which of the following is true of a life tenant?
A) A life tenant has the right to sell the life estate at will. B) A person who gives a life estate to another is called a life tenant. C) A life tenant can possess the life estate to the point of rendering it worthless by permanent damage. D) A life tenant is treated as the owner of the property for the duration of the life estate.