Factoring is a method of borrowing against payables.
Small businesses start small but are intended to grow rapidly, often requiring a team of
partners.
Noncash employee incentive is a strategy to decrease cash outflow.
Small businesses never experience any cash flow problems.
The accounting equation is simply stated as Assets = Liabilities – Owners’ Equity.
LaRue Hosmer’s model for making ethical decisions is focused more on small business
than big ones.
In the context of a business plan, a firm’s responsiveness to customers is a key concern
of bankers.
_____ are usually produced for pennies in quantity.
A. Sales packets
B. Signs
C. Promotional novelties
D. Marketing kits
– If Jack’s marketing plan is part of the business plan, which of the following can be
avoided as a component of the marketing plan in order to prevent duplication?
A. Marketing analysis
B. Situational analysis
C. Executive summary
D. Cash flow statement
As a part of her I2P analysis, Amanda conducted a survey in which she asked her
potential consumers about their interests. She did the survey to match market demand to
a new product idea she has. Amanda addresses which of the following aspects of the
I2P analysis?
A. The novelty of the product
B. The extent of IP protection for the idea
C. The reasons for customers to buy the product
D. The royalty that the product is likely to generate
During the _____, acceptance of the product (whether innovative or imitative) increases
rapidly.
A. growth stage
B. emergence stage
C. decline stage
D. introduction stage
For part-time businesses, _____ refers to the documented permission from the
government to run a business.
A. bootstrapping
B. benchmarking
C. licensing
D. zoning
Which of the following is a cost benefit?
A. Brand
B. Altruism
C. Personalization
D. Organizational practice
Only _____ of family-owned businesses survive beyond the first generation.
A. three-quarters
B. one-half
C. one-fourth
D. one-third
The business idea component of the feasibility study includes which of the following
aspects?
A. Stage of development
B. Competition
C. Market penetration
D. Description of the entrepreneurs
Sandra has a product idea. She has researched about all the competing products and the
companies that produce them. The research helps Sandra to address which of the
following aspects of the I2P analysis?
A. The market and its size
B. The extent of IP protection for the idea
C. The initial set of customers
D. The royalty that the product is likely to generate
Which of the following activities mimics multilevel marketing?
A. Forward networking
B. Reserved auctioning
C. Counterfeit catalog selling
D. Illegal pyramid schemes
In the SCAMPER tool, “E” stands for:
A. entertain.
B. eliminate.
C. engineer.
D. extrapolate.
Which of the following accounting functions has been accurately described?
A. Investments records help produce accurate billing of customers, and thus help to
maintain good customer relations.
B. Payroll records track if your business keeps surplus cash invested in securities.
C. Accounts payable records help to make timely payments in order to capture prompt
pay discounts and to maintain a good credit rating for the business.
D. Credit card sales function enables that payroll and employment taxes are kept
current.
While developing a new product, in the product development stage, the first versions of
products are used in further consumer testing. These first versions of products are called
_____.
A. pure goods
B. prototypes
C. me-too products
D. hybrids
Dividing the market by categories such as age, income, education level, ethnicity, or sex
is termed as _____ segmentation.
A. geographic
B. demographic
C. trench
D. psychographic
A _____ must be paid in less than one year from the date of the financial statement on
which it is reported but can be sold to other investors at any time.
A. commercial paper
B. demand deposit
C. marketable security
D. short-term debt
Describe the key issues in leasing.
How does a marketing plan help small business owners?
Describe the mechanics of a cash flow statement.
Differentiate between stand retail and home retail by explaining the advantages and
disadvantages of each.
Describe employee leasing.
What are the main concerns when individuals moonlight? Explain.