QUESTION 7 Which of the following is true about the use of historical data in traditional finance? (2) Historical data is used in risk calculations for a firm Historical data is used in liquidity calculations for a firm Historical data is used to predict future growth in a firm O All of the above are true about historical data QUESTION 8 What is true about taking a salary as an entrepreneur? (2) Entrepreneurs should take a salary to reduce taxes paid by the business Entrepreneurs should take a salary to ensure profits are adequately reinvested in the business Entrepreneurs should not take a salary and instead should just expect to receive any residual profits of the O firm Entrepreneurs should not take a salary in order to maximize the return that any investors in the firm will earn QUESTION 9 Which of the following is NOT true about traditional finance and entrepreneurial finance? (2) They both still use the same techniques to calculate risk measures and returns "They both still focus on the areas of investments, financial markets, and financial management" O They both still use the same techniques to record financial transactions O They both still use the same accounting statements O All of the above are true about traditional finance and entrepreneurial finance QUESTION 10 Why is there often a gap between revenue and cash inflows? (2) O Revenue may be earned but cash outflows have already occurred O Revenue may be earned but cash inflows have not yet occurred O Revenue may be earned but expenses are not yet'incurred Revenue may be earned and expenses are already incurred