FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which one of the following statements concerning profit is INCORRECT? a. Profits are rewards for businesspeople who take risks b. All businesses are profitable c.

image text in transcribed

Which one of the following statements concerning profit is INCORRECT? a. Profits are rewards for businesspeople who take risks b. All businesses are profitable c. Without profits a company could not survive d. Profits serve an incentives for people to start companies

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For Executives And MBAs

Financial Accounting For Executives And MBAs

Authors: Ferris & Wallace

2nd Edition

1934319627, 978-1934319628

More Books

Students also viewed these Accounting questions

Question

★★★★★
How is an impairment loss calculated in relation to a single asset accounted for?

Answered: 1 week ago

Question

★★★★★
T F Packaging has little infl uence on buying decisions.

Answered: 1 week ago

Question

★★★★★
On January 1, 2014, Harter Company had Accounts Receivable $139,000, Notes Receivable $25,000, and Allowance for Doubtful Accounts $13,200. The note receivable is from Willingham Company. It is a...

Answered: 1 week ago

Question

★★★★★
Which one of the following statements concerning profit is INCORRECT? a. Profits are rewards for businesspeople who take risks b. All businesses are profitable c. Without profits a company could not...

Answered: 1 week ago

Question

★★★★★
* Exit Fullscreen Karen Huntley, an accountant, owns a business with the following assets and liabilities: Assets Liabilities Bank $4 000 A/P-A. Borg & Son $1 000 A/R-R. Fawcett 300 A/P-Familiar...

Answered: 1 week ago

Question

★★★★★
Listening for compassion requires 3 things: recognizing, relating and Group of answer choices reacting relaxing redressing researching

Answered: 1 week ago

Question

★★★★★
It is a violation of the Liquor Licence Act (LLA) to serve alcohol to which of the following people? A customer who has arrived with an underage friend. A customer who has a high BAC and is rated Red...

Answered: 1 week ago

Question

★★★★★
In the case: In deep Water: Boardroom Tussle at Asia Water Technology - Whether Venkataramana should have petitioned for unfair prejudice remedy instead of trying to remove the directors of Asia...

Answered: 1 week ago

Question

★★★★★
A monopsonist's demand for labor can be written as VMPE = 40 - 0.005ED. Labor is supplied to the firm according to w = 5 + 0.01ES. Thus, the firm's marginal cost of hiring workers when it hires off...

Answered: 1 week ago

Question

★★★★★
Blake Shook started a second business selling beekeeping supplies and teaching beekeeping classes. Texas Bee Supply was started with his parents when they invested in the company by gifting Blake a...

Answered: 1 week ago

Question

★★★★★
Consider your own personal opinions about ethical speaking. Would you add anything to the four principles noted here? If so, what characteristics would you cite?

Answered: 1 week ago

Question

★★★★★
3 Imagine that as the instructor or publisher, it is your responsibility to respond to an instance of plagiarism. How would you handle the situation?

Answered: 1 week ago

Question

★★★★★
Organizing Your Speech Points

Answered: 1 week ago

Previous Question Next Question