INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Combination product and service
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Product type
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Service provider
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Sole proprietorship
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Detailed explanation-1: -What happens when a sole proprietor dies?-All business assets and liabilities become part of the sole proprietor’s personal estate.-It then becomes the responsibility of the sole proprietor’s executor or administrator to settle the estate, including disposition of the sole proprietorship.
Detailed explanation-2: -The largest number of U.S. businesses have no employees other than the owner. When a large business opens in an area, other businesses often will locate there to support the larger business. Nonprofit corporations do not have to pay corporate income taxes. Most businesses use a functional organizational structure.
Detailed explanation-3: -Audit. assesses if financial statement that follows GAAP (Generally accepted accounting principles)
Detailed explanation-4: -Recreation. Arts and entertainment. Social assistance. Health care. Waste management. Professional and technical services. Scientific services. Transportation. More items