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Gaurav Seth 6 years, 11 months ago
Entrepreneur is a person who develops and owns his own enterprise, is a moderate risk taker and works under uncertainty for achieving the goal.
— Is innovative and a persuader of deviant pursuits.
— Reflects a strong urge to be independent.
— Persistently tries to do something better.
— Is dissatisfied with routine activities.
— Is prepared to withstand the hard life.
— Is determined but patient. Exhibits sense of leadership.
— Exhibits sense of competitiveness.
— Takes personal responsibility.
— Is oriented towards the future.
— Tends to persist in the face of adversity
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- Expenditure refers to any outlay of cash or other consideration. We say ‘the business’s expenditure for supplies was 1200 dollars’, which means that 1200 dollars were spent on supplies.
- A cost refers to the amount given to acquire an asset. If an expenditure is made to acquire supplies, then the cost is the amount paid in cash to acquire those supplies – for example of 1200 dollars.
- An expense refers to decreases in economic benefits. Because an expense is always reported on the statement of comprehensive income, it is a cost that has already been consumed – ‘expired’ – and therefore has no future value to the business.
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Neeelesh Bansal 6 years, 11 months ago
4Thank You