State any five reasons why an entrepreneur may carryout Market survey.

Whether you are thinking of venturing into a new market or launching a new product, conducting a marketing assessment is the crucial first step in determining if there is a need or a potential customer base for your product. Why is market research important for new business ideas? Market research should never be underestimated. Many successful new businesses enjoy longevity because their owners conduct regular market research to understand their target market, identify consumer problems and pinpoint realistic competitors. Determine key market factors: Cost, Consumer Demographics, Challenges, Opportunities. ... These factors will help you determine how you will need to market to consumers, face your competition, and develop your overall business plan.

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Explanation:

to know what the other people are interested in, for example they do a survey to see how much of each product they need and the popularity of how many people like the stuff, those are 2 reasons, quantity and I would say popularity 3: get the people to know that enreprenuer cares 4 and five just think about it, I cant really think of anymore

Explanation:

Explanation:

The correct value of inventory:

Year end balance $267,670

Add:

Goods purchased on term FOB shipping point $25,600

Goods sold on terms FOB destination $52,170

Less: Goods purchased on terms FOB destination ($43,630)

Correct inventory as on December 31 $301,810