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Your colleagues that are intending to establish their own business, had a chat with an accountant on how to go about establishing their business. After

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Your colleagues that are intending to establish their own business, had a chat with an accountant on how to go about establishing their business. After their meeting with the accountant they came to you saying that they were not very clear with the guidance the accountant gave them as she used a lot of accounting jargon. They have decided to come to you for clarifications. Required a) What is the relationship between risk and return in business; and why is important for an entrepreneur to understand this relationship? 3 marks b) Explain to them to three common methods of projects appraisals and state the criteria they use? 4 marks c) Advise them as to what the various sources of finance for a business are. 3 marks d) What is the Importance of Entrepreneurs to Zambia as a country; and how can the government help entrepreneurs? 10 marks e) Define five (5) entrepreneurial skills you need to run your business. 5 marks Your colleagues that are intending to establish their own business, had a chat with an accountant on how to go about establishing their business. After their meeting with the accountant they came to you saying that they were not very clear with the guidance the accountant gave them as she used a lot of accounting jargon. They have decided to come to you for clarifications. Required a) What is the relationship between risk and return in business; and why is important for an entrepreneur to understand this relationship? 3 marks b) Explain to them to three common methods of projects appraisals and state the criteria they use? 4 marks c) Advise them as to what the various sources of finance for a business are. 3 marks d) What is the Importance of Entrepreneurs to Zambia as a country; and how can the government help entrepreneurs? 10 marks e) Define five (5) entrepreneurial skills you need to run your business. 5 marks

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