Which of the following categories does the majority of small businesses fall under?
A. High-growth ventures
B. High-performing small businesses
C. Lifetime/Part-time firms
D. Traditional small business
Charging lower prices at certain times to encourage customers to come during slack
periods is known as _____.
A. off-peak pricing
B. price gouging
C. price lining
D. odd-even pricing
According to the Wells Report submitted by the Association of Certified Fraud
Examiners, what is the number one method for fraud detection?
A. Internal audits
B. Internal controls
C. Tips
D. External audits
In the _____ section of a classic business plan, sales plan, competitive plan, and growth
plan are discussed.
A. company
B. organization
C. financials
D. market
_____ refers to setting a price above that of the competition so as to indicate a higher
quality or that a product is a status symbol.
A. Penetration pricing
B. Premium pricing
C. Limit pricing
D. Bait pricing
Closing a sale refers to:
A. asking for a referral from a prospective customer.
B. being turned down by a prospective customer.
C. delaying the decision to make a new product.
D. obtaining a commitment from the customer.
For most small businesses, the _____ will follow the success stage.
A. takeoff stage
B. resource maturity stage
C. existence stage
D. survival stage
An examination based acknowledgement that the firm is owned and operated as
specified is known as _____.
A. performance analysis
B. certification
C. multi source assessment
D. homologation
Which of the following types of plans describes a company and its product or service to
potential customers or suppliers?
A. Screening plan
B. Informational plan
C. Operational plan
D. Invention plan
In the goal step of the strategic planning process, the key is to:
A. focus on the kind of customers the business wants to deal with.
B. bring together the decisions that underlie the business plan.
C. offer state-of-the-art or leading-edge technology.
D. build a brand reputation through the products or services.
Purchases of existing businesses may occur through _____ in which the business is
bought over a period of time with money obtained from the business.
A. green field investments
B. blue ocean strategies
C. earn-outs
D. leveraged buyouts
The _____ section of a classic business plan contains the vision statement, mission
statement, objectives, and background of a firm.
A. company
B. market
C. organization
D. appendixes
While the competitors of Premium Airlines cater to both the business and economy
class customers along with the executive class customers, the company aims at focusing
all its service efforts on customers who prefer to travel in style and comfort. Hence, the
firm’s airplanes only have executive seats. This is an example of a(n) _____ marketing
strategy.
A. differentiated
B. concentrated
C. undifferentiated
D. mass
According to the definition provided by the U.S. Dallas Federal Reserve Bank, which
of the following is one of the primary purposes of money?
A. Creating competition
B. Maximizing the wealth of all citizens equally
C. Creating cash flow statements
D. Making exchanges
In a successful walkaway:
A. contracts, leases, and the like are in effect.
B. employees are let go as they find other jobs.
C. ongoing lawsuits consume money and time.
D. assets or inventory are available.