quiz 10 4 - Quinn Enterprises paid $480 plus a sales tax of...

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18 Amy Clark just opened a soup and salad restaurant near Central Park in New York City. Rather than borrow money or raise funds from investors, Amy used her creativity and ingenuity and figured out how to get her business up and running without the need for external funding. Amy is utilizing a technique referred to as: A. networking B. pathetic maneuvering C. leveraging D. private equity E. bootstrapping 19 Bill Rattner is manufacturing high-tech packaging machines. He has analyzed the cost of production for the first few units made, and says that he can report that learning is taking place. Which equation describes the cost of production? A. Z u = Ku n B. y = ax + b C. n u = I + AR - AP FC D. S BE SP VC 20 Jane Zapp sells a product to Quinn Enterprises. The product cost $350 for Jane to make. The retail price of the item on Jane’s Web site was $550 each.
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Unformatted text preview: Quinn Enterprises paid $480 plus a sales tax of 8% on the sale. How much did Jane record as revenue for this sale? A. $200 B. $130 C. $480 D. $518.40 E. None of the above 21 When an entrepreneur starts a business that does not succeed, what is the probable reason for the failure? a. The entrepreneur did not completely believe in his dreams, but had some doubts. Everyone who believes in his dreams succeeds. b. The entrepreneur did not work hard enough, as all hard workers succeed. c. The entrepreneur did not get A+’s in all of his entrepreneurship classes d. It is impossible to say what the reason or reasons for the failure are, as an entrepreneur’s success depends on a myriad of factors, both internal and external....
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