QUESTION 1 Neman, a single parent, quit his job and started a small independent business because he was unable to give adequate attention to his child. Being an entrepreneur gives him the freedom to give undivided attention to his child without jeopardizing his work. Which of the following advantages of entrepreneurship is highlighted in the given scenario? a. Greater financial success Ob Flexibility O c. Survival O d. Greater challenge QUESTION 2 To preserve independence and impartiality, the Financial Accounting Standards Board (FASB) members are required to O a sign a non-disclosure agreement and hand over all information of their previous companies to the board, Ob sever all ties with any firms or institutions they served prior to joining the board c. serve the board until their retirement O d. pass a rigorous two-day, four-part examination on major accounting concepts. QUESTION 3 Initiatium, a software development firm, utilized $2 million to create a new software. Half of the total budget was acquired from loans from different sponsors while the rest was funded by the firm. The debt ratio amounts to 0.5. The given scenario illustrates the analysis of O a asset management ratios O b. liquidity ratios O c.leverage ratios O d. profitability ratios