Harry Homer and Jenny Juno are two people extremely interested in establishing a small business. Harry is interested in marketing his newly developed product, which increases the speed by which data are transferred through phone lines. He sees great potential for his new product and is willing to devote his life savings and begin this new venture. Jenny is also interested in this product. She too
sees a great potential down the road as businesses adapt this new technology. In the future, she can see a major company growing quickly with the ability to go public or merge with a major phone company. what will be the most challenging aspect of beginning this new business?
a. Long hours spent on the business
b. The commitment that the business requires
c. Income uncertainty
d. Choosing the right form of business ownership
c
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The general journal is a chronological record of all transactions
Indicate whether the statement is true or false
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a. revenue accruals. b. cash inflows. c. depreciation deductions. d. expense accruals.
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