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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Which is an example of an accounting function for a business?
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Designing print advertisements
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Hiring employees
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Preparing a balance sheet
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Testing computer software
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Explanation:
Detailed explanation-1: -A balance sheet will provide you a quick snapshot of your business’s finances-typically at a quarter-or year-end-and provide insights into how much cash or how much debt your company has.
Detailed explanation-2: -The 7 functions of accounting are Accounts Payable and receivables, Payroll, Inventory cost management, Cash collections & record keeping, Budgeting, Reporting financial statements, and Legal compliance & finance controls.
Detailed explanation-3: -The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity. As such, the balance sheet is divided into two sides (or sections). The left side of the balance sheet outlines all of a company’s assets.
There is 1 question to complete.