Xavi develops a cell phone battery that can be charged by a solar panel and can run efficiently for up to three hours. His friends point out that it would be difficult to get cell phone manufacturers to adopt this new technology and that it could take a long time for people to start relying on it. However, Xavi is convinced that he can make his idea popular and successful. He plans to start a new company called EnerMob Inc. that would promote and sell the cell phone battery to the public. In this scenario, which of the following entrepreneurial characteristics is Xavi demonstrating?
A. Vision
B. Hindsight
C. Retrospection
D. Reflection
Answer: A
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If a company uses the allowance method to account for bad debts, when will the company's owners' equity decrease?
a. At the date a customer's account is written off b. At the end of the accounting period when an adjusting entry for bad debts is recorded c. At the date a customer's account is determined to be uncollectible d. When the accounts receivable amount becomes past due
Which of the following must be in writing even if it is below the time stipulation of the Statute of Frauds?
A) businesses that have more than one commercial venture B) partnerships authorized to deal real estate C) businesses that are authorized to lend money D) enterprises which deal with health and medicine
A line of credit is an informal agreement that permits a company to borrow up to a prearranged limit without having to follow formal loan procedures and paperwork.
Answer the following statement true (T) or false (F)
It looks ____ employees are pleased with the new benefits package
A) as if B) like