What two questions should be asked to ensure one is within their acceptable loss?

The correct choice highlights the crucial understanding of acceptable loss in the context of decision-making and risk management. When navigating uncertainty, especially in entrepreneurship, it's vital to be aware of the costs associated with taking the next step.

By asking what one can afford to pay to take the next step, individuals evaluate their financial and resource limitations, ensuring that they do not exceed what is manageable. This helps in understanding the boundaries of risk without jeopardizing overall stability.

The second part of the question, about what one is willing to pay, underscores the aspect of personal commitment and risk tolerance. Willingness to invest involves assessing not just the financial implications but also the psychological and emotional readiness to accept a potential loss. This dual framework allows individuals to make informed decisions that align with their comfort level regarding risk and financial exposure.

In entrepreneurship, having defined parameters for acceptable loss is vital for long-term sustainability, making the selected answer particularly relevant in guiding decision-making processes.