Many small businesses fail because they are selling products or services that are new and untried. This sounds like the definition of innovation. Yet, why does this often lead to failure of an enterprise?
What will be an ideal response?
Answer: By selling products and services that are new and untried, the business is assuming a greater-than-average level of risk.
Explanation: All businesses operate in a climate of risk. Small businesses attempting to sell new products or services face additional risks and often lack adequate resources to weather challenges that a larger business selling new products and services may be able to manage.
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During what phase of the writing process does the writer check for clarity, conciseness and correctness?
A) Drafting B) Proofreading C) Planning D) Completing E) Writing
Martin Company purchases a machine at the beginning of the year at a cost of $80,000. The machine is depreciated using the double-declining-balance method. The machine's useful life is estimated to be 4 years with a $6600 salvage value. The machine's book value at the end of year 3 is:
A. $60,000. B. $40,000. C. $10,000. D. $9150. E. $70,000.
The majority of network television advertising is sold through ________
A) an upfront market B) scatter buys C) rate cards D) ad trafficking E) media auditing
Brooke enters into a contract with Max to purchase several electronic goods. Brooke claims to be Jack's agent, even though she is not. Which of the following agency relationships is formed if Jack honors the contract?
A) agency by estoppel B) agency by ratification C) agency by implied authority D) agency by agreement