Question 1

Entrepreneurial couples who work together as co-owners of their business are referred to as ________.

Accepted Answer

A) dual entrepreneurs 
B) corporate dropouts 
C) corporate cast-offs 
D) copreneurs 
A) dual entrepreneurs 
B) corporate dropouts 
C) corporate cast-offs 
D) copreneurs D

Question 2

Cloud computing allows businesses to use a variety of applications and has reduced costs and added flexibility.

Accepted Answer

A) True 
 B)False  True

Question 3

There is concern over the future of entrepreneurship because so few high school and college students want to start their own companies.

Accepted Answer

A) True 
 B)False  False

Question 4

Small companies have created at least two-thirds of the net new jobs in the U.S. economy.

Accepted Answer

A) True 
 B)False

Question 5

The majority of small companies are concentrated in the ________ and ________ industries.

Accepted Answer

A) manufacturing; retail 
B) manufacturing; service 
C) retail; service 
D) wholesale; retail 
A) manufacturing; retail 
B) manufacturing; service 
C) retail; service 
D) wholesale; retail

Question 6

More than 40 percent of all companies in the world are family-owned.

Accepted Answer

A) True 
 B)False

Question 7

Globally, one in eight adults is actively engaged in launching a business.

Accepted Answer

A) True 
 B)False

Question 8

Successful "copreneurs" create a division of labor based on expertise.

Accepted Answer

A) True 
 B)False

Question 9

Potential drawbacks of entrepreneurship may include ________.

Accepted Answer

A) uncertainty of income, risk, long hours, and high stress 
B) uncertainty of income, risk, easy hours, and frequent vacations 
C) uncertainty of income, risk, long hours, and the immediate accumulation of wealth 
D) certainty of income, risk, long hours, and high stress 
A) uncertainty of income, risk, long hours, and high stress 
B) uncertainty of income, risk, easy hours, and frequent vacations 
C) uncertainty of income, risk, long hours, and the immediate accumulation of wealth 
D) certainty of income, risk, long hours, and high stress

Question 10

Small companies that have expanded successfully into foreign markets tend to rely on all but which of the following strategies?

Accepted Answer

A) Research foreign markets thoroughly. 
B) Focus on many countries initially. 
C) Utilize government resources designed to help small companies establish an international presence. 
D) Forge alliances with local partners. 
A) Research foreign markets thoroughly. 
B) Focus on many countries initially. 
C) Utilize government resources designed to help small companies establish an international presence. 
D) Forge alliances with local partners.

Question 11

Entrepreneurs typically possess ________.

Accepted Answer

A) the ability to easily access capital 
B) a set of unique skills that is usually accompanied by advanced degrees in several areas 
C) a high level of commitment, have a tolerance for ambiguity, are flexible and tenacious 
D) specialized technical abilities 
A) the ability to easily access capital 
B) a set of unique skills that is usually accompanied by advanced degrees in several areas 
C) a high level of commitment, have a tolerance for ambiguity, are flexible and tenacious 
D) specialized technical abilities

Question 12

What is an entrepreneur? Give a brief profile of a typical entrepreneur. What is the primary motivation for the typical entrepreneur?

Accepted Answer

An entrepreneur is someone who creates a

Question 13

Which of the following is a benefit of entrepreneurship?

Accepted Answer

A) The opportunity to gain control over your own destiny. 
B) The opportunity to reach your full potential. 
C) The opportunity to do what you enjoy. 
D) All of the above 
A) The opportunity to gain control over your own destiny. 
B) The opportunity to reach your full potential. 
C) The opportunity to do what you enjoy. 
D) All of the above

Question 14

Surveys show that small business owners believe that, as entrepreneurs, they work harder, earn more money, and are happier than if they worked for a large company.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following was not identified as one of the suggestions for small business success?

Accepted Answer

A) Develop a business plan as you grow your business. 
B) Manage your financial resources and understand financial statements. 
C) Know your business in depth. 
D) Learn to manage people successfully. 
A) Develop a business plan as you grow your business. 
B) Manage your financial resources and understand financial statements. 
C) Know your business in depth. 
D) Learn to manage people successfully.

Question 16

The majority of new business owners work ________.

Accepted Answer

A) fewer than 40 hours per week 
B) more than 40 hours per week 
C) more than 70 hours per week 
D) more than 80 hours per week 
A) fewer than 40 hours per week 
B) more than 40 hours per week 
C) more than 70 hours per week 
D) more than 80 hours per week

Question 17

Most entrepreneurs have invested the time to develop a sound business plan.

Accepted Answer

A) True 
 B)False

Question 18

Not all family-owned businesses are small; in fact, approximately one-third of the Fortune 500 companies are family businesses.

Accepted Answer

A) True 
 B)False

Question 19

Starting a part-time business is a popular gateway to entrepreneurship.

Accepted Answer

A) True 
 B)False

Question 20

Entrepreneurs realize that failure is a possibility, but are not paralyzed by that fear.

Accepted Answer

A) True 
 B)False

Entrepreneurial couples who work together as co-owners of their business are referred to as ________.

Cloud computing allows businesses to use a variety of applications and has reduced costs and added flexibility.

There is concern over the future of entrepreneurship because so few high school and college students want to start their own companies.

Small companies have created at least two-thirds of the net new jobs in the U.S. economy.

The majority of small companies are concentrated in the and industries.

More than 40 percent of all companies in the world are family-owned.

Globally, one in eight adults is actively engaged in launching a business.

Successful "copreneurs" create a division of labor based on expertise.

Potential drawbacks of entrepreneurship may include ________.

Small companies that have expanded successfully into foreign markets tend to rely on all but which of the following strategies?

Entrepreneurs typically possess ________.

What is an entrepreneur? Give a brief profile of a typical entrepreneur. What is the primary motivation for the typical entrepreneur?

Which of the following is a benefit of entrepreneurship?

Surveys show that small business owners believe that, as entrepreneurs, they work harder, earn more money, and are happier than if they worked for a large company.

Which of the following was not identified as one of the suggestions for small business success?

The majority of new business owners work ________.

Most entrepreneurs have invested the time to develop a sound business plan.

Not all family-owned businesses are small; in fact, approximately one-third of the Fortune 500 companies are family businesses.

Starting a part-time business is a popular gateway to entrepreneurship.

Entrepreneurs realize that failure is a possibility, but are not paralyzed by that fear.

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Forms of Business Ownership

Buying an Existing Business

Franchising and the Entrepreneur

Building a Powerful Bootstrap Marketing Plan

E-Commerce and the Entrepreneur

Pricing and Credit Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Choosing the Right Location and Layout

Sources of Financing: Equity and Debt

Global Aspects of Entrepreneurship

Building a New Venture Team and Planning for the Next Generation

Filters

Exam 1: The Foundations of Entrepreneurship

Entrepreneurial couples who work together as co-owners of their business are referred to as ________.

Cloud computing allows businesses to use a variety of applications and has reduced costs and added flexibility.

There is concern over the future of entrepreneurship because so few high school and college students want to start their own companies.

Small companies have created at least two-thirds of the net new jobs in the U.S. economy.

The majority of small companies are concentrated in the ________ and ________ industries.

More than 40 percent of all companies in the world are family-owned.

Globally, one in eight adults is actively engaged in launching a business.

Successful "copreneurs" create a division of labor based on expertise.

Potential drawbacks of entrepreneurship may include ________.

Small companies that have expanded successfully into foreign markets tend to rely on all but which of the following strategies?

Entrepreneurs typically possess ________.

What is an entrepreneur? Give a brief profile of a typical entrepreneur. What is the primary motivation for the typical entrepreneur?

Which of the following is a benefit of entrepreneurship?

Surveys show that small business owners believe that, as entrepreneurs, they work harder, earn more money, and are happier than if they worked for a large company.

Which of the following was not identified as one of the suggestions for small business success?

The majority of new business owners work ________.

Most entrepreneurs have invested the time to develop a sound business plan.

Not all family-owned businesses are small; in fact, approximately one-third of the Fortune 500 companies are family businesses.

Starting a part-time business is a popular gateway to entrepreneurship.

Entrepreneurs realize that failure is a possibility, but are not paralyzed by that fear.

Ethics and Social Responsibility: Doing the Right Thing

Creativity and Innovation: Keys to Entrepreneurial Success

Conducting a Feasibility Analysis and Designing a Business Model

Crafting a Business Plan and Building a Solid Strategic Plan

Forms of Business Ownership

Buying an Existing Business

Franchising and the Entrepreneur

Building a Powerful Bootstrap Marketing Plan

E-Commerce and the Entrepreneur

Pricing and Credit Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Choosing the Right Location and Layout

Sources of Financing: Equity and Debt

Global Aspects of Entrepreneurship

Building a New Venture Team and Planning for the Next Generation

Filters

The majority of small companies are concentrated in the and industries.