MULTIPLE CHOICE. Choose the one alternative that best completes the statement or

Question

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) is the chance a business owner will lose the time and money in vested ina 1) business that proves to be unprofitable. A) Fallibility B) Redundancy D) Risk 2) The total amount of money that businesses take in by selling goods and services is called 2) A) loss C) profit B) retained earnings D) revenue (n) is a person who assumes the risk of starting a business. A) stakeholder C) private investor 3) B) manager D) entrepreneur 4) The customers, employees, stockholders, suppliers, creditors, and others who stand to 4) gain or lose by the policies and activities of a business represent the firm's: A) market makers. C) economic environment. B) stakeholders. D) social mentors. 5) Last year, Adventure Enterprises reported revenues of $24 million while its total 5) expenses were $10 million. Based on this information, Adventure reported: A) losses off $34 million. C) losses of $14 million. B) profits of $14 million. D) profits of $34 million. 6) The standard of living for a nation's people depends mainly on: 6) A) the amount of labor and capital available employed in the manufacturing sector B) their income and the prices of the goods and services they buy C) the quality of the natural environment. D) how much political freedom they have. 7) How is the profile of business owners changing? 7) A) In the U.S., men between the ages of 18 and 24 are starting businesses at a faster B) It is difficult to collect information on the profile of business owners. Most new C) Recent male immigrants, who can legally work in the U.S., are starting businesses D) Businesses owned by minority women are growing at a faster rate than businesses rate than men of all ages, or women of all ages. businesses do not file so they don't have to pay taxes. at a faster rate than natural-born male citizens, and at a faster rate than all women. owned by men or nonminority women.

Explanation / Answer

1. The correct answer is option D.

Entrepreneur has the ability to take risk and are more aggressive in terms of making business decisions. The greatest risk in starting a business is financial risk. It would be risky for the new entrepreneur to be financially stable at the initial stage. Business owner will also waste time if the business turns out to be a loss.

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