Question

High intelligence and conceptual ability are two of the most "learnable" attributes of successful entrepreneurs. * O True O False The Managerial Sills Inventory questionnaire can be used to develop an inventory of your skills and capabilities in the areas of financial accounting, human resources, and ethics. * True O False If a business's net sales are $20,000 while cost of goods sold totals $6,000, its gross margin is $14,000 or 70 percent of sales. True O False

Answer 1

1.

Answer:-False

Because high intelligence and conceptual ability are not-so-learner attributes as entrepreneurs consider it to be innate.

3.

Answer:- True

Solution:- Gross margin = Net Sales - cost of good sold/Net sale * 100

                                   = $20,000-$6000/$20000*100

                                   = $14000/20000*100

                                   = $70%

Thus the gross margin is $14000 or 70% of the sales. Hence, it is correct.