Survival is the second riskiest period after emergence.
Franchising a new business is one of the ways to business ownership.
The primary reason to acquire and use a computerized accounting system in your
business is to ensure the accuracy of your accounting information.
Entrepreneurs are exclusively found in farming-related occupations.
Financing may be in the form of cash donated to a business in return for ownership.
In innovation, it is mandatory for a person to be sure how a new idea is going to turn
out.
The ADA Technical Assistance Program provides inspection and affirmation services to
help small businesses.
Generally, benefits do not influence a firm’s strategy process.
The goal of appendixes is to provide supporting information that helps detail or support
the key selling points of a business plan.
If a product or service has protection through a proprietary technology, it is mentioned
in the product/service subsection of the company section of a business plan.
Strategy is the idea and actions that explain how a firm will make its profits.
Which of the following is true of the Americans with Disabilities Act?
A. It is applicable to all employers.
B. It is only applicable to employers with 100 or more employees.
C. It is only applicable to employers with 15 or more employees.
D. It is only applicable to employers with 50 or more employees and contracts or
subcontracts of $50,000 plus.
_____ is the name given to the bank’s accounting system for all recognized transactions
that affect the account, including deposits, electronic transfers, service fees, and checks
presented to the bank for payment.
A. Bank ledger balance
B. Company book balance
C. Overdraft balance
D. Bank available balance
_____ is a special set of observational and thinking skills that help entrepreneurs
identify good opportunities.
A. Screening ability
B. Incremental skill
C. Radical ability
D. Entrepreneurial alertness
_____ is a certification standard from the U.S. Green Building Council for buildings
that are environmentally friendly.
A. LEED
B. ESOP
C. ISO
D. BATNA
Which of the following is an example of part-time self-employment?
A. Tabatha, who works from home for a fashion website for a minimum of 40 hours a
week
B. Raul, who works as an intern in a law firm for more than 35 hours a week
C. Dorothy, who works in her small bakery for less than 30 hours a week
D. Joshua, who teaches piano to children for 40 hours a week
Which of the following is a specialized legal form of business plan crafted by lawyers
for the purpose of soliciting formal investments?
A. Key employee/partner plan
B. Private placement memorandum
C. Invention plan
D. Operational plan
After successfully operating for five years, Tina plans to sell her computer service
center. Which of the following would be Tina’s main financial management need as she
exits the business through sale?
A. Obtaining increasing amounts of cash inflows
B. Building her wealth and conserving assets
C. Optimizing capital structure for profits
D. Conserving the money that the business has
_____ is a form of direct response advertising that reaches local people but does not
permit a lot of details.
A. Radio
B. Billboard
C. Magazine
D. Newspaper
The general description for the processes and skills used in the management of a firm’s
interactions with people, organizations, and institutions outside of its boundary is called
_____.
A. external relations
B. organizational structure
C. horizontal integration
D. social audit
Uncertainty of returns in a business is referred to as _____.
A. financial risk
B. accelerated cash-out
C. overpayment
D. collateral
Transfer is that endgame strategy in which:
A. the owner closes down a business.
B. ownership is moved from one person or group to another.
C. value is recovered through a sale of a firm or its assets.
D. the last major return from the firm is pooled for retirement.
_____ uses agents, export management companies, or export trading companies as
intermediaries to handle most of the exporting process.
A. Indirect exporting
B. Freight forwarding
C. Contract manufacturing
D. Direct exporting
Which of the following inferences can be made from the life cycle model of business?
A. Resource maturity is the first stage in the life cycle of most of the small businesses.
B. Much of the firm’s development as a business is predictable within some broad
terms.
C. Most of the small businesses go through the takeoff stage.
D. The study of the life cycle model of business shows that the jump from the success
stage to the resource maturity stage is impossible.
Buying in volume usually produces savings. This leads to the cost benefit of _____.
A. scope savings
B. lower costs
C. scale savings
D. learning
Which of the following is most likely to be true regarding customer vector?
A. It considerably increases cognitive dissonance.
B. It makes it difficult to decide which marketing efforts to continue or expand.
C. It helps marketers in identifying prospective customers.
D. It helps entrepreneurs decide how to operate several key aspects of their marketing
efforts.
_____ are specialists in export-related activities including tariff schedules, shipping,
insurance, packing, transportation arrangements, customs clearing, and other export
details.
A. Born internationals
B. Freight forwarders
C. Contract manufacturers
D. Traffic generators