Define entrepreneurial opportunity. Using one of the three success stories in Section 1-2b, explain how the owners identified their opportunity.
What will be an ideal response?
An entrepreneurial opportunity is an economically attractive and timely opportunity that creates value for a potential customer and the company owners. After the entrepreneur has the idea, then the product or service must appeal to the prospective customer.?Kelly's Delight: Patrick Linstrom had an idea for a product to sell, all-natural liquid cane sugar. He listened to feedback from local customers to create a salable delivery tool for the product at a price point they were willing to pay.?Blank Label: Fan Bi recognized a need for custom-tailored men's clothing at a mass-produced price. Their website attracts business professionals who design their own shirts for a price much lower than custom-tailored ones, thus creating value for these customers. Then, recognizing customers' need to touch products before making a purchase, they opened several stores, satisfying that customer need and adding to their sales.?Hughes Group LLC: Military vet Patrick Hughes Sr. saw an opportunity to provide his logistics expertise to the government on a contract basis and used his experience with the military to help him identify what kind of expertise they needed.
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On January 1, a company issues bonds dated January 1 with a par value of $400,000. The bonds mature in 5 years. The contract rate is 7%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $383,793. The journal entry to record the second interest payment using the effective interest method of amortization is:
A. Debit Interest Expense $12,648.28; debit Premium on Bonds Payable $1,351.72; credit Cash $14,000.00. B. Debit Interest Expense $12,648.28; debit Discount on Bonds Payable $1,351.72; credit Cash $14,000.00. C. Debit Interest Expense $15,405.79; credit Discount on Bonds Payable $1,405.79; credit Cash $14,000.00. D. Debit Interest Expense $15,351.72; credit Discount on Bonds Payable $1,351.72; credit Cash $14,000.00. E. Debit Interest Payable $14,000.00; credit Cash $14,000.00.
A(n) ________ is an agreement entered into by the creditor and the debtor whereby the debtor agrees to pay the creditor for a debt that is dischargeable in bankruptcy
A) reaffirmation agreement B) order for relief C) discharge agreement D) acceptance agreement
In an external analysis, the first step is to determine where the business is expected to compete.
Answer the following statement true (T) or false (F)
When a conditional offer has been made, the party who asked for the condition must
take reasonable steps to fulfil it. Indicate whether the statement is true or false