.
Successful firms generate long-term profits by delivering unsurpassed value to their customers.
A) True
B) False
Points Earned: 2.0/2.0
Correct Answer(s): True

Correct Incorrect Ungraded
2.
A firm will experience a loss when its revenue is less than its expenses.
A) True
B) False
Points Earned: 2.0/2.0
Correct Answer(s): True

Correct Incorrect Ungraded
3.
Business will incur a profit when expenses are higher than revenue.
A) True
B) False
Points Earned: 2.0/2.0
Correct Answer(s): False

Correct Incorrect Ungraded
4.
Profit is the money that a business earns in revenue, minus investments, and the cost of salaries.
A) True
B) False
Points Earned: 0.0/2.0
Correct Answer(s): False

Correct
A) True
B) False
Points Earned: 0.0/2.0
Correct Answer(s): True

Correct Incorrect Ungraded
26.
A sole proprietorship is a business that is owned, and usually managed, by a single individual.
A) True
B) False
Points Earned: 0.0/2.0
Correct Answer(s): True

Correct Incorrect Ungraded
27.
Limited partnerships and limited liability partnerships are just two names for exactly the same type of business organization.
A) True
B) False
Points Earned: 0.0/2.0
Correct Answer(s): False

Correct Incorrect Ungraded
28.
A verbal agreement is the simplest and safest way to form a general partnership.
A) True
B) False
Points Earned: 0.0/2.0
Correct Answer(s): False

Correct Incorrect Ungraded
29.
A merger is a corporate restructuring that occurs when one firm, called the acquiring firm, buys another firm, called the target firm.
A) True
B) False
Points Earned: 0.0/2.0
Correct Answer(s): False

Correct Incorrect Ungraded
30.
In 2010, U.S. entrepreneurship rates reached their highest level in 15 years. This is seen as a hopeful sign, because job seekers become potential job creators.
A) True
B) False
Points Earned: 0.0/2.0
Correct Answer(s): True

Correct Incorrect Ungraded
31.
The Great Recession had no affect on teenagers’ desire to launch their own business.
A) True
B) False
Points Earned: 0.0/2.0
Correct Answer(s): True

Correct Incorrect Ungraded
32.
Assets = Liabilities +