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In terms of its treatment of income, expenses, and taxes, a partnership is essentially a
sole proprietorship consisting of more than one person.
a. True
b. False
All of the following are part of an entrepreneur's extended network except ____.
a. government agencies
personal advisors
c. manufacturing support
d. sales support
e. customers
The ____ represents an unserved niche that enables the entrepreneur to enter a market
with no direct competition for a time.
a. general customer base
b. first customer
c. supplier
d. industry
e. None of these choices
Formal processes are independent and improve the functions of a department.
a. True
b. False
The U.S. Chamber of Commerce reports that piracy costs the United States alone over
$250 billion annually and 750,000 lost jobs every year.
a. True
b. False
____, such as banner exchange programs, is/are strategic partnerships intended to
increase website traffic.
a. Vodcasts
b. Affiliate programs
c. Social media
d. Crowdsourcing
e. Search engine marketing
An underwriter draws up a/an ____, which outlines the terms and conditions of the
agreement between the underwriter and the entrepreneur/selling stockholder.
a. fair market provision
b. stop-loss statement
c. forfeiture provision
d. prospectus
e. letter of intent
The ____ microprocessor affected the technological revolution of the 1970s.
a. Apple
b. b. Microsoft
c. Java
d. Intel
e. Sun
Which type of venture typically requires considerable research and development cost
prior to startup?
a. Restaurants
b. High-tech
c. Construction
d. Retail
e. Manufacturing
Investors consider research and development, engineering, and testing of new products
to be low-risk, so funding for these activities is not difficult for the entrepreneur to
secure.
a. True
b. False
The three major categories of patents are design patents, business method patents, and
____ patents.
a. utility
b. prior art
c. manufacture
d. obviousness
e. None of these choices
The best way for manufacturers to control quality is by arranging for products to be
inspected at the end of the production process.
a. True
b. False
What is the difference between NASDAQ and the NYSE and AMEX?
What questions should entrepreneurs answer when determining which legal form is best
for their venture?
In what ways do entrepreneurial leaders have an advantage over heroic leaders?
What are the three questions that a feasibility analysis will answer?
Name one technique for problem-solving.
What are the steps in the IPO process?
List the disadvantages of an IPO.
Briefly discuss Porter's Five Forces Framework that is used to analyze an industry.
List the four stages of growth in a new venture, and briefly describe them.
