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978-0134422565 Chapter 1 Part 1
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 1 Entrepreneurs Recognize Opportunities 1) Products are tangible, meaning ________. A) you can’t actually touch them B) you can sell them C) you can touch them D) you can […]
978-0134422565 Chapter 1 Part 2
7 24) Describe three potential rewards of becoming an entrepreneur that appeal to you. Answer: (The answer should describe 3 of the following 5 rewards.) 1. Control over time – Do you work better at midnight than at 8 a.m.? […]
978-0134422565 Chapter 10
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 10 Financing Strategy and Tactics 1) Statistics indicate that 45 percent of all small businesses ________. A) survive ten plus years B) fail after three years C) survive five […]
978-0134422565 Chapter 11 Part 1
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 11 Addressing Legal Issues and Managing Risk 1) Tax-exempt, nonprofit corporations ________. A) cannot make a profit B) do not have legal liability C) are set up with a […]
978-0134422565 Chapter 11 Part 2
7 Copyright © 2016 Pearson Education, Inc. 25) The form of protection offered under U.S. law to the authors of “original works of authorship” is a(n) ________. A) patent B) electronic right C) trademark Learning Object.: 11.4 Evaluate ways to […]
978-0134422565 Chapter 12
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 12 Operating for Success 1) ________ permit businesses to deliver what is promised when it is promised. A) Expeditors B) Operations C) Sales D) Brokers Answer: B Diff: 1 […]
978-0134422565 Chapter 13 Part 1
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 13 Management, Leadership, and Ethical Practices 1) Madam C. J. Walker was an entrepreneur who became ________. A) the first female pharmacist in America B) the first African-American businessperson […]
978-0134422565 Chapter 13 Part 2
7 21) The ________ of an organization is the shared beliefs, values, and attitudes. A) mission B) culture C) structure D) vision Answer: B Diff: 2 Page Ref: 428 Learning Object.: 13.3 Develop your organizational culture. AACSB Category: Analytical thinking […]
978-0134422565 Chapter 14 Part 1
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 14 Franchising, Licensing, and Harvesting: Cashing in Your Brand 1) Licensing is ________. A) the right to sell knockoffs of a product B) the right to start a business […]
978-0134422565 Chapter 14 Part 2
7 25) One way to value a business is to ________. In general, the business should sell for 3 to 5 times its annual net earnings. A) look at a multiple of its net earnings B) look at a comparison […]
978-0134422565 Chapter 2
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 2 The Business Plan: Road Map to Success 1) A(n) ________ is a company’s plan to generate revenue and make a profit from operations. A) business plan B) marketing […]
978-0134422565 Chapter 3
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 3 Creating Business From Opportunity 1) Which of the following is not an element of business definition? A) the offer B) the acceptance C) target market D) production and […]
978-0134422565 Chapter 4
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 4 Exploring Your Market 1) Nike sells sneakers, but it also markets sneakers, using ________ to get its message out to customers. A) publicity B) advertising and publicity C) […]
978-0134422565 Chapter 5
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 5 Developing the Right Marketing Mix and Plan 1) Which of the following is one of the four Ps of marketing? A) population B) publicity C) product D) packaging […]
978-0134422565 Chapter 6 Part 1
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 6 Smart Selling and Effective Customer Service 1) Entrepreneurs ________ constantly, not just to customers, but to investors, bankers and people they want to hire. A) sell B) try […]
978-0134422565 Chapter 6 Part 2
7 23) Discuss the eight step sales call. Answer: 1) Preparation – Prepare yourself mentally. Visualize the call in your mind. 2) Greeting – Greet the customer politely and graciously. Keep a two-way conversation going. 3) Show the product or […]
978-0134422565 Chapter 7
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 7 Understanding and Managing Start-Up, Fixed, and Variable Costs 1) The bedrock principle of business is that it should ________. A) please its customers B) advertise better than its […]
978-0134422565 Chapter 8 Part 1
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 8 Using Financial Statements to Guide a Business 1) Which of the following is not a basic financial document that entrepreneurs use to track their businesses? A) income statement […]
978-0134422565 Chapter 8 Part 2
7 23) The return on sales ratio is ________. A) net income/sales B) also called the operating ratio C) revenue/expenses D) expenses/sales Answer: A Diff: 1 Page Ref: 264 Learning Object.: 8.5 Calculate return on investment. AACSB Category: Analytical thinking […]
978-0134422565 Chapter 9
1 Entrepreneurship: Starting & Operating a Small Business, 4e (Mariotti) Chapter 9 Cash Flow and Taxes 1) Which statement best describes how the cash flow statement differs from the income statement? A) The income statement records sales and expenses when […]