_____ refers to the value of a business that exceeds the sum of the value of all
individual assets but that cannot be sold separately from the business.
A. Goodwill
B. Collateral
C. Inventory
D. Debt
Legal obligations to give up things of value in the future are known as _____.
A. assets
B. borrowings
C. liabilities
D. owners’ equity
Due to which of the following characteristics a news story is most likely to get public
recognition?
A. Trendiness
B. Cultural resonance
C. Power
D. Currency
Activities involved in producing and selling goods and services are called _____
activities.
A. operating
B. investing
C. financing
D. marketing
The two largest governmental grant programs that are specifically intended for small
business are:
A. SBIR and STTR.
B. SBA and SBDC.
C. EDA and DBED.
D. EDA and SBA.
Which of the following is a feature that a chosen accounting system should have?
A. It should facilitate the development of a cash budget.
B. It should limit the production of custom reports that meet management needs.
C. It should show the financial position of the business only after elaborate processing.
D. It should have a limited context-independent help function.
Which of the following statements is true about a family council?
A. It helps to maximize communication in the succession process of family businesses.
B. Its main function is complete the key business activities of a family business.
C. It includes family members with immediate interests in the business and a significant
number of non-family members.
D. It is not a good forum for grappling with issues like role expectations, commitment,
and personal responsibility.
Which of the following is true of a small business?
A. Its preferred funding source is other people’s money.
B. It sells more when it is facing bankruptcy.
C. It considers sales as more important than marketing.
D. It focuses more on effectiveness than on efficiency.
Insurable value is defined as:
A. the amount of an asset for which a company will write an insurance policy.
B. the entire value of the property of a business.
C. the value of the historical significance of a building.
D. the amount of fees that a business has to pay to an insurance company.
For a business to factor receivables, the _____ must have good credit ratings.
A. suppliers
B. business
C. vendors
D. customers