Which of the following statements is true of necessity entrepreneurship in high-income countries?
A. The rate of necessity entrepreneurship is low.
B. The risks of necessity entrepreneurship are low.
C. Necessity entrepreneurship is a major contributor to the nation's economy.
D. Necessity entrepreneurship occurs when there are several sources of income.
Answer: A
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On September 1 of the current year, Scots Company experienced a flood that destroyed the company's entire inventory. Because the company had not completed its month end reporting for August, it must estimate the amount of inventory lost using the gross profit method. At the beginning of August, the company reported beginning inventory of $215,800. Inventory purchased during August was $192,670. Sales for the month of August were $543,200. Assuming the company's typical gross profit ratio is 40%, estimate the amount of inventory destroyed in the flood.
A. $134,730 B. $81,550 C. $191,190 D. $87,550 E. $82,550
Which of the following is considered a disadvantage of advertising in magazines?
a. lack of immediacy b. high cost c. limited distribution d. limited flexibility e. all of the above
Leaders engage in ______________ to let followers know what behaviors will be rewarded, to teach them how to achieve the task, and to remove other obstacles in the way of achievement.
a. reward specification b. path-clarification c. initiating structure d. obstacle-removal
Which of the following is not a requirement for a valid state tax? A) Tax cannot discriminate against interstate business
B) Tax cannot apply to businesses in interstate commerce. C) There must be a sufficient nexus between the state and the business being taxed. D) None of the above