Which of the following best describes an entrepreneur?

An individual who works at a business.

An individual who begins, manages, and bears the risks of a business.

An individual who works at and manages an office.

An individual who takes risks.

When Hester's car breaks down, she asks Insta-Tow, Inc., to tow it to Jerry's Repair Shop. There is no discussion of a price, and Hester and Insta-Tow do not sign any documents. Later, Insta-Tow sends Hester a bill.

Allen Company bought a new copy machine to be depreciated straight line for three years for use by sales personnel. Where would this purchase be reflected on the Statement of Cash Flows? A.

On March 1, 2018, Lewis Services issued a 6% long-term notes payable for $18,000. It is payable over a 3-year term in $6000 principal installments on March 1 of each year, beginning March 1, 2019.

Which statement best describes the term insurance? a) It is a protection that guarantees to pay you in the event of losing your job. b) It is a protection that guarantees to pay you in the event of financial losses.

Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.

Identify the internal control principle that is applicable to each procedure. The following reconciling items are applicable to the bank reconciliation for Ellington Company: (1) outstanding checks, (2) bank debit memorandum for service charge, (3)

Valera Corporation makes a product with the following standards for labor and variable overhead: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct labor 0.4 hours $ 21.00 per hour $ 8.40 Variable overhead 0.4 hours $ 6.

Which of the following are tasks associated with business administration positions? a. answering phones b. designing goods for production c. delivering goods to markets d. maintaining records e. repairing computers

Pepe, Incorporated acquired 60% of Devin Company on January 1, 2017. On that date Devin sold equipment to Pepe for $45,000. The equipment had a cost of $120,000 and accumulated depreciation of $66,000 with a remaining life of 9 years.

Which statement is incorrect? a. Dividends represent a distribution by a corporation to its stockholders. b. Dividends are shown on the income statement. c. Dividends reduce stockholders' equity, thus the Dividends account increases on the left side.