Question 1

Boards of publicly owned corporations can be composed of inside or outside members or a combination of the two.

Accepted Answer

A) True 
 B)False

Question 2

Many ventures start as _____ where the owners are considered "members" and "managers."

Accepted Answer

A)  S corporations 
B)  sole proprietorships 
C)  limited liability companies 
D)  joint ventures 
E)  C corporations 
A)  S corporations 
B)  sole proprietorships 
C)  limited liability companies 
D)  joint ventures 
E)  C corporations

Question 3

What are the functions of the board of directors?

Accepted Answer

Boards of directors serve a valuable pur

Question 4

Compared to a formal board of directors, an advisory board

Accepted Answer

A)  is subject to more scrutiny. 
B)  has more functions in a closely held corporation. 
C)  is subject to less scrutiny. 
D)  is a less costly alternative. 
E)  has more control in a wholly owned corporation. 
A)  is subject to more scrutiny. 
B)  has more functions in a closely held corporation. 
C)  is subject to less scrutiny. 
D)  is a less costly alternative. 
E)  has more control in a wholly owned corporation.

Question 5

A board member who is a founder, family member, or retired manager of the firm is a(n)

Accepted Answer

A)  inside board member. 
B)  outside board member. 
C)  advisory board member. 
D)  venture capitalist. 
E)  angel investor. 
A)  inside board member. 
B)  outside board member. 
C)  advisory board member. 
D)  venture capitalist. 
E)  angel investor.

Question 6

The chances of success are greater when the lead entrepreneur and the team share the same _____ for a new venture.

Accepted Answer

A)  responsibilities 
B)  skills 
C)  vision 
D)  network 
E)  status expectations 
A)  responsibilities 
B)  skills 
C)  vision 
D)  network 
E)  status expectations

Question 7

A(n) _____ is bound by rules and ethics that do not permit advocacy.

Accepted Answer

A)  banker 
B)  insurance agent 
C)  consultant 
D)  accountant 
E)  lawyer 
A)  banker 
B)  insurance agent 
C)  consultant 
D)  accountant 
E)  lawyer

Question 8

Having a qualified _____ on the advisory team puts a startup in a better position to seek a line of credit for operating capital or a loan to purchase equipment once the business has a track record.

Accepted Answer

A)  accountant 
B)  auditor 
C)  banker 
D)  director 
E)  attorney 
A)  accountant 
B)  auditor 
C)  banker 
D)  director 
E)  attorney

Question 9

Which of the following is perhaps the most critical factor in effective startup teams?

Accepted Answer

A)  Achievement 
B)  Education 
C)  Intelligence 
D)  Communication 
E)  None of these are correct. 
A)  Achievement 
B)  Education 
C)  Intelligence 
D)  Communication 
E)  None of these are correct.

Question 10

Which of the following individuals would be the best fit as the chief executive officer (CEO) of a startup?

Accepted Answer

A)  Jamal, a Web developer 
B)  Katelyn, an engineer 
C)  Mia, a scientist 
D)  All of these are correct. 
E)  None of these are correct. 
A)  Jamal, a Web developer 
B)  Katelyn, an engineer 
C)  Mia, a scientist 
D)  All of these are correct. 
E)  None of these are correct.

Boards of publicly owned corporations can be composed of inside or outside members or a combination of the two.

Many ventures start as _____ where the owners are considered "members" and "managers."

What are the functions of the board of directors?

Compared to a formal board of directors, an advisory board

A board member who is a founder, family member, or retired manager of the firm is a(n)

The chances of success are greater when the lead entrepreneur and the team share the same _____ for a new venture.

A(n) _____ is bound by rules and ethics that do not permit advocacy.

Having a qualified _____ on the advisory team puts a startup in a better position to seek a line of credit for operating capital or a loan to purchase equipment once the business has a track record.

Which of the following is perhaps the most critical factor in effective startup teams?

Which of the following individuals would be the best fit as the chief executive officer (CEO) of a startup?

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Prototyping and Validating a Solution

Protecting the Startups Assets

Calculating Startup Capital Requirements

Preparing a Business Plan

Designing an Entrepreneurial Organization

Planning Startup Operations

Choosing the Legal Form of Organization

Developing a Startup Marketing Plan

Incorporating Ethics and Social Responsibility Into the Business

Funding Startup and Growth

Planning for Growth and Change

Filters

Exam 8: Building the Founding Team

Boards of publicly owned corporations can be composed of inside or outside members or a combination of the two.

Many ventures start as _____ where the owners are considered "members" and "managers."

What are the functions of the board of directors?

Compared to a formal board of directors, an advisory board

A board member who is a founder, family member, or retired manager of the firm is a(n)

The chances of success are greater when the lead entrepreneur and the team share the same _____ for a new venture.

A(n) _____ is bound by rules and ethics that do not permit advocacy.

Having a qualified _____ on the advisory team puts a startup in a better position to seek a line of credit for operating capital or a loan to purchase equipment once the business has a track record.

Which of the following is perhaps the most critical factor in effective startup teams?

Which of the following individuals would be the best fit as the chief executive officer (CEO) of a startup?

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Prototyping and Validating a Solution

Protecting the Startups Assets

Calculating Startup Capital Requirements

Preparing a Business Plan

Designing an Entrepreneurial Organization

Planning Startup Operations

Choosing the Legal Form of Organization

Developing a Startup Marketing Plan

Incorporating Ethics and Social Responsibility Into the Business

Funding Startup and Growth

Planning for Growth and Change

Filters