What are professional and personal issues an entrepreneur may face in the period of time from when the harvest is announced and it is completed?
What will be an ideal response?
* Harvesting takes a lot of time and energy on the part of the firm's management team and can be very distracting from day-to-day affairs. The result is often a loss of managerial focus and momentum, leading to poor performance.
* Uncertainties accompanying an impending sale often lower employee morale in relation to a new owner.
* A buyer can be quite unemotional and detached, while a seller is likely to be much more concerned about non-financial considerations.
* Entrepreneurs have a real need for good advice, both from experienced professionals and from those who have personally been through a harvest.
* A sense of loss may occur as the entrepreneur changes their identity from small business owner to small business seller. Persons the entrepreneur has been in regular contact with (employees, clients, vendors) will not be part of their life.
* "Seller's remorse" is definitely a major issue for a number of entrepreneurs.
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What is the best way to respond to a negotiator who has just thrown his pen across the room and screamed, "We can't pay anymore for what you are willing to offer! You are being inconsiderate"?
What will be an ideal response?
The expected population deviation rate is the auditor's best estimate of the percentage of transactions processed for which a control is not effectively applied
a. True b. False Indicate whether the statement is true or false
Recording periodic depreciation and amortization results in a
a. debit to an expense account, only b. debit to a product cost account, only. c. debit to either an expense account or a product cost account. d. credit to either an expense account or a product cost account. e. credit to an expense account, only.
Hesson Properties, Inc Transactions for Hesson Properties are provided below. Nov. 1 Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson's property, plant, and equipment records. Payment is due in 30 days. Nov. 8 Hesson accepts $75 of advance payments from customers for services to be provided in December. Nov. 15 Hesson receives the utility bill for
$150. Payment is due in 30 days. Nov. 20 Customers are billed $750 by Hesson for property services. Payment is due from the customers in 30 days. Nov. 30 Hesson received $500 from customers who were billed on November 20th. Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 15th transaction? A) Utilities Expense 150Cash 150 B) Accounts Receivable 150Utilities Expense 150 C) Utilities Expense 150Accounts Payable 150 D) Cash 150Utilities Expense 150