Question 1

The primary concerns of an entrepreneur starting a new business should be planning and financing.

Accepted Answer

A) True 
 B)False  True

Question 2

Entrepreneurs and new start-up companies can find assistance from incubators.Incubators today provide what kinds of services?

Accepted Answer

Hands-on management assistance...

Question 3

Successful micropreneurs require self-discipline to separate work from family responsibilities.

Accepted Answer

A) True 
 B)False

Question 4

Small business owners often struggle in attracting qualified workers.Which of the following does not contribute to this problem? Small firms offer:

Accepted Answer

A)  lower wages than paid by large corporations.
B)  limited room for advancement.
C)  a lack of challenging jobs.
D)  less attractive fringe benefits than offered by larger firms.E) None of the above
F) A) and B)

Question 5

Small-business owners need outside consulting advice early in the process.Name two invaluable experts.

Accepted Answer

Lawyers,accountants,marketing ...

Question 6

Poor management is the cause of the majority of small business failures.

Accepted Answer

A) True 
 B)False

Question 7

Bankers and investors require entrepreneurs to present a well-conceived business plan.

Accepted Answer

A) True 
 B)False

Question 8

The business plan of a new entrepreneur should include all of the following  except :

Accepted Answer

A)  name of the company.
B)  target market.
C)  competitive advantages.
D)  capital required.E) All of the above
F) A) and C)

Question 9

What kinds of Canadian small businesses require advanced training to start,but have the lowest failure rates?

Accepted Answer

Veterinary services,...

Question 10

An excellent way to learn how to run a small business is to talk to entrepreneurs from diverse backgrounds.What kind of advice will they give you?

Accepted Answer

They will tell you that location is crit...

Question 11

The most common small business failures occur in businesses that are the easiest to start.

Accepted Answer

A) True 
 B)False

Question 12

To be defined as a small business,the businesses must be independently owned and operated.

Accepted Answer

A) True 
 B)False

Question 13

A good business plan will:

Accepted Answer

A)  describe all aspects of the business,including product,the target market,the nature of the competition,and the resources and qualifications of the owner(s) .
B)  focus on the big picture and omit the small details of operating the business.
C)  focus on the nature of the business and the target market,omitting personal information about the owner in order to avoid personality issues.
D)  be purposefully vague,since specifics can restrict creativity and flexibility.E) All of the above
F) A) and D)

Question 14

Discuss the benefits exporting offers to small businesses.Given these benefits,why don't more small firms sell in international markets?

Accepted Answer

a.The world market is potentially a much...

Question 15

Micropreneurs are home-based business owners.

Accepted Answer

A) True 
 B)False  True

Question 16

The Internet has slowed small businesses' participation in international markets.

Accepted Answer

A) True 
 B)False

Question 17

Examples of crowdfunding platforms include:

Accepted Answer

A)  business plans
B)  financial capitalists
C)  venture capital
D)  kick starterE) B) and C)
F) A) and D) D

Question 18

About 50% of businesses that enter the marketplace survive for one full year.

Accepted Answer

A) True 
 B)False

Question 19

Businesses employing fewer than 100 employees account for the vast majority of all employer businesses.

Accepted Answer

A) True 
 B)False

Question 20

are private individuals who invest their own money in potentially hot new companies before these firms sell stock publicly.

Accepted Answer

A)  Angel investors
B)  Corporate raider investors
C)  Venture investors
D)  Leveraged buyout specialistsE) B) and C)
F) All of the above

Exam 7: Entrepreneurship and Starting a Small Business

The primary concerns of an entrepreneur starting a new business should be planning and financing.

Correct AnswerverifiedTrue

Entrepreneurs and new start-up companies can find assistance from incubators.Incubators today provide what kinds of services?

Correct AnswerverifiedHands-on management assistance...View AnswerShow Answer

Successful micropreneurs require self-discipline to separate work from family responsibilities.

Correct AnswerverifiedShow Answer

Small business owners often struggle in attracting qualified workers.Which of the following does not contribute to this problem? Small firms offer:

Correct AnswerverifiedShow Answer

Small-business owners need outside consulting advice early in the process.Name two invaluable experts.

Correct AnswerverifiedLawyers,accountants,marketing ...View AnswerShow Answer

Poor management is the cause of the majority of small business failures.

Correct AnswerverifiedShow Answer

Bankers and investors require entrepreneurs to present a well-conceived business plan.

Correct AnswerverifiedShow Answer

The business plan of a new entrepreneur should include all of the following except :

Correct AnswerverifiedShow Answer

What kinds of Canadian small businesses require advanced training to start,but have the lowest failure rates?

Correct AnswerverifiedVeterinary services,...View AnswerShow Answer

An excellent way to learn how to run a small business is to talk to entrepreneurs from diverse backgrounds.What kind of advice will they give you?

Correct AnswerverifiedThey will tell you that location is crit...View AnswerShow Answer

The most common small business failures occur in businesses that are the easiest to start.

Correct AnswerverifiedShow Answer

To be defined as a small business,the businesses must be independently owned and operated.

Correct AnswerverifiedShow Answer

A good business plan will:

Correct AnswerverifiedShow Answer

Discuss the benefits exporting offers to small businesses.Given these benefits,why don't more small firms sell in international markets?

Correct Answerverifieda.The world market is potentially a much...View AnswerShow Answer

Micropreneurs are home-based business owners.

Correct AnswerverifiedTrue

The Internet has slowed small businesses' participation in international markets.

Correct AnswerverifiedShow Answer

Examples of crowdfunding platforms include:

Correct AnswerverifiedD

About 50% of businesses that enter the marketplace survive for one full year.

Correct AnswerverifiedShow Answer

Businesses employing fewer than 100 employees account for the vast majority of all employer businesses.

Correct AnswerverifiedShow Answer

are private individuals who invest their own money in potentially hot new companies before these firms sell stock publicly.

Correct AnswerverifiedShow Answer

Correct Answer
verified
True

Correct Answer
verified
Hands-on management assistance...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Lawyers,accountants,marketing ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Veterinary services,...
View Answer

Correct Answer
verified
They will tell you that location is crit...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
a.The world market is potentially a much...
View Answer

Correct Answer
verified
True

Correct Answer
verified

Correct Answer
verified
D

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified