Concept:The key distinguishing function of an entrepreneur is risk-bearing, not routine managerial work.
Explanation:An entrepreneur founds and runs a business while facing unknown market conditions.
The owner assumes all the risks and rewards of the venture.
If the business succeeds, the entrepreneur earns profit.
If the business fails, the entrepreneur bears the loss.
This personal exposure to risk is what makes the entrepreneurial role unique.
In contrast, planning, control, and management are common functions.
These functions are performed by professional managers and supervisors in any organisation.
Such tasks can be delegated and taught, but risk-bearing cannot be transferred.
Therefore, risk-bearing alone clearly distinguishes an entrepreneur from other business participants.
Answer:C. risk-bearing