QUESTION 36 "For a new firm, operating plans are (2) Unnecessary since there is no historical data for a new venture Unnecessary since there is no way to guarantee any revenue forecast Essential since they provide a narrative to support any expense forecasts Essential since they provide a narrative to support any revenue forecasts QUESTION 37 is a measure of risk when a stock __ is a measure of risk when a stock is held in a portfolio while is held by itself (not in a portfolio). Both require_ _ to calculate. (2) Standard deviation; beta; historical data Standard deviation; beta; liquidity data Beta; standard deviation; historical data Beta; standard deviation; liquidity data T his wwwww QUESTION 34 Defining an entrepreneur is difficult. Which of the following is likely to be included in all definitions of an entrepreneur? (2) O Manages the day to day operations of a firm O Provides all funding for the firm Bears the risk of loss All of the above QUESTION 35 Which of the following is true if a firm has only variable expenses? (2) O A 10% increase in sales will lead to no change in expenses and no change in profits A 10% increase in sales will lead to no change in expenses and a 10% increase in profits O A 10% increase in sales will lead to a 10% increase in expenses and a 10% increase in profits A 10% increase in sales will lead to a 10% increase in expenses and no change in profits