The type of uncertainty that is in operation when an entrepreneur takes a gamble on an as yet non-existent market is

called ambiguity.

True

False

For the built-in loss limitation to apply, the property must have been acquired by the corporation as part of a plan whose principal purpose was to recognize a loss on the property by the liquidating corporation. Explain.

Temporary earnings are best characterized as: a. earnings that do not have corresponding cash flows. b. earnings from nonoperating activities. c. earnings that arise from events that are not likely to recur in the foreseeable future. d.

An economic outcome is said to be efficient if the economy is a getting all it can get from the scarce resources it has available. b conserving on resources, rather than using all available resources. c using all of the resources it has available.

Which of the following is a current trend in information technology careers? A. The differences between the pathways is becoming more rigid as different skills are needed. B. Employers expect new hires to be knowledgeable in many pathway careers. C.

On January 1, 2018, Packard Corporation leased equipment to Hewlitt Company. The lease term is eight years. The first payment of $450,000 was made on January 1, 2018.

On January 1, Year 1, Phillips Company made a basket purchase including land, a building and equipment for $895,000. The appraised values of the assets are $64,000 for the land, $920,000 for the building and $176,000 for equipment.

Terri davis is planning to buy a new car. While on the internet she learned that the car has a base price of $16,007, options that total $2,334, and a $500 destination charge.

gOn July 1, Twin Pines Co., a water distiller, acquired new bottling equipment with a list price (fair market value) of $220,000.

3. Definition of economic costs Felix lives in Miami and runs a business that sells boats. In an average year, he receives $851,000 from selling boats.

In rich countries such as the United States, changes in the level of taxation have little impact on the incentives of entrepreneurs. True or False?