INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Costs of sales for a new manufacturing venture typically include which factors?
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Trade show attendance, raw materials, and equipment
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Raw materials, equipment, and product inventory
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Trade show attendance, product inventory, and internet access
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Internet access, attorney fees, and sales lead lists
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Explanation:
Detailed explanation-1: -Operating expenses-also known as selling, general and administrative expenses (SG&A)-are the costs of doing business. They include rent and utilities, marketing and advertising, sales and accounting, management and administrative salaries.
Detailed explanation-2: -One way to better understand a market’s opportunities is to conduct a market analysis, which is an analysis of the overall interest in the product or service within the industry by its target market to determine its viability and profit potential.
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