INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Set aside a portion of the money you owe in taxes each month.
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Set aside a portion of your income each month.
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Both A and B
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Neither A nor B
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Detailed explanation-1: -A fixed expense an expense that typically does not change month to month. One way to begin saving startup capital is to set aside a portion of your income each month. Startup capital is the money you invest in the form of supplies, marketing, legal services, and other investments to get your business up and running.
Detailed explanation-2: -A balanced budget occurs when revenues are equal to or greater than total expenses. A budget can be considered balanced after a full year of revenues and expenses have been incurred and recorded. Proponents of a balanced budget argue that budget deficits burden future generations with debt.
Detailed explanation-3: -Variable Expense. An expense that is different from month to month. Fixed Expense. An expense that typically does not change month to month.
Detailed explanation-4: -Wages paid to workers however can vary as the number of workers increase or decrease. Hence it is not considered as a fixed cost.
Detailed explanation-5: -What is the main purpose of developing a business pitch? Correct Answer: To briefly share the most important info about your business to other people in an engaging way!