Josh, an electronics retailer, noticed that the e-commerce business was booming. He started an online shopping website to take advantage of this surge in business. As a result, his business attracted more customers from all across the country. This reflects Josh's

Select one:

a. imitative skill.

b. creativity.

c. retail arbitrage.

d. entrepreneurial alertness.

Which of the following statements is correct?

Select one:

a. Just-in-time inventory: the practice of purchasing and accepting delivery of inventory only after it has been sold to the final customer.

b. Physical inventory: a system of recording the receipt and sale of each item as it occurs.

c. Perpetual inventory: a count of all the inventory being held for sale at a specific point in time.

d. Micro-inventory: the process of physically counting business assets on a set schedule.

A ________ is a legal agreement that grants the rights to use a particular piece of intellectual property.

Select one:

a. freemium

b. royalty

c. licensee

d. license

Kevin wanted to start his own business of ferrying pets to the vet or groomers for their owners but he was advised to perform a feasibility analysis before moving forward. Kevin is on the third step of the entrepreneurial process: plan.

Select one:

a. FALSE

b. TRUE

________ analysis is based on the concept that the longer you have to wait to receive money, the less valuable it is right now.

Select one:

a. Discounted cash flow

b. Net realizable value

c. Due diligence

d. Book value