Operational plans and private placement memos are the only two types of plans that add
material to a full business plan.
Sales leads who actually make some sort of effort to learn more about the product,
service, or business in anticipation of a possible purchase are known as prospects.
Surety bonds repay employers for losses caused by dishonest or negligent employees.
About a third of the retirees who return to work decide to become self-employed.
A start-up business has no initial name recognition.
The supra-strategy of a classic imitator small business start-up is single-mindedness.
Short-term assets are also known as operating assets.
On-the-job techniques include orientations, job instruction training, lectures, and case
studies.
The UFOC is a standard document franchises use to explain their operations,
requirements, and costs to potential franchisees.
The single most typical way businesses close down is by a walkaway.
ZestOne Technologies has launched a series of tablet computers that are similar to a
competitor’s product that already exists in the market. Such products are typically
termed as _____.
A. me-too products
B. prototypes
C. augmented products
D. complementary goods
The most common strategy employed by small businesses for handling money
shortages is _____.
A. adjusting scheduled payments
B. using personal money
C. selling investments
D. laying off employees
A charge for the use of money, usually figured as a percentage of the principal is called
_____.
A. interest
B. dividend
C. tax
D. chargeback
Which of the following requires a full-time approach to self-employment?
A. Free lancing
B. Stand retailing
C. Franchising
D. Interning
Percentage of concession in gross invoice amounts provided to encourage prompt
payment are called _____.
A. receivables
B. noncash incentives
C. trade discounts
D. charge backs
In a _____ the assets of a firm are sold to another business, with the proceeds used to
pay off the firm’s remaining debts, and perhaps leaving the owner some small profit.
A. workout
B. sell off
C. pass off
D. succession
Which of the following is true about sole proprietorship?
A. It is the most difficult kind of business form to set up.
B. It is not considered as a legal entity separate from its owner.
C. It does not incur unlimited liability on its owner.
D. It is not supported by any unique tax advantages.
Which of the following is true of business locations?
A. Target market customers are essential factors for selecting business locations.
B. Most entrepreneurs prefer their business locations to be outside their hometown.
C. The cost of moving a company across town or across the country is cheap.
D. Proximity of competitors does not affect choice of business locations.
Agreement between the associates of a firm on matters pertaining to the formation and
operation of the partnership is known as _____.
A. articles of organization
B. contracts of partnership
C. articles of association
D. articles of partnership
Assuming that the money is received evenly across the year, what will be the payback
period if Jack decides to invest in the CZ84 double cut frame saw?
A. 3 years and 7 months
B. 2 years and 11 months
C. 2 years and 3 months
D. 3 years and 1 month
The value of a franchise is determined by:
A. the rights granted.
B. the conditions and standards set.
C. the operating permissions granted.
D. the value of assets acquired.
What does the task environment of a firm consists of?
What are the different sources of financing available for small businesses?
Explain situations in which it would it be better to first undertake a part-time business.
What are the different legal forms of businesses where ownership can be sold?
What are the four ways in which attorneys typically charge their clients?
Differentiate between incremental innovation and pure innovation.
What are the two reasons for differences in the bank and book balances?