Question 1

Small businesses generate over 50 percent of new jobs.

Accepted Answer

A) True 
 B)False

Question 2

Describe the types of loans the Small Business Administration (SBA)offers to small businesses.

Accepted Answer

The SBA also guarantees microloansof up

Question 3

Government agencies offer benefits designed to help small businesses compete with larger firms.

Accepted Answer

A) True 
 B)False

Question 4

Owners of small businesses can increase their chances of success if they:

Accepted Answer

A) become an expert in legal,financial,marketing,and other related business areas. 
B) incorporate their business. 
C) hire only family members or friends. 
D) understand their own limitations. 
A) become an expert in legal,financial,marketing,and other related business areas. 
B) incorporate their business. 
C) hire only family members or friends. 
D) understand their own limitations.

Question 5

The Small Business Administration targets specific programs to minority-owned small businesses.

Accepted Answer

A) True 
 B)False

Question 6

If you are considering starting your own business,a key priority for you should be to:

Accepted Answer

A) get a loan from your local bank 
B) incorporate your business. 
C) learn the basics of business. 
D) apply for a Small Business Administration loan. 
A) get a loan from your local bank 
B) incorporate your business. 
C) learn the basics of business. 
D) apply for a Small Business Administration loan.

Question 7

Discuss two alternatives to private ownership and give an example of each.

Accepted Answer

Public ownership and cooperatives are al

Question 8

Forty percent of all privately held companies are owned by women.

Accepted Answer

A) True 
 B)False

Question 9

Most small businesses turn a profit within the first year.

Accepted Answer

A) True 
 B)False

Question 10

When a government unit owns and operates an organization,the arrangement is known as ________.

Accepted Answer

A) private ownership 
B) a cooperative 
C) public ownership 
D) employee ownership 
A) private ownership 
B) a cooperative 
C) public ownership 
D) employee ownership

Question 11

The Small Business Administration provides incentives for small companies to hire employees who possess various types of challenges.

Accepted Answer

A) True 
 B)False

Question 12

Alexander has just opened a bakery & café in a busy New York City neighborhood.He has received an SBA-guaranteed microloan of $13,000.Alexander can use the microloan for all of the following,EXCEPT:

Accepted Answer

A) to buy a new dough mixer 
B) to pay off outstanding business-related credit card bills 
C) to pay for a new advertising campaign 
D) to pay rent and utility bills for the building 
A) to buy a new dough mixer 
B) to pay off outstanding business-related credit card bills 
C) to pay for a new advertising campaign 
D) to pay rent and utility bills for the building

Question 13

Traditionally,small businesses tended to be concentrated in the ________ industry.

Accepted Answer

A) manufacturing 
B) retailing 
C) wholesaling 
D) importing/exporting 
A) manufacturing 
B) retailing 
C) wholesaling 
D) importing/exporting

Question 14

Alternatives to private ownership include ________.

Accepted Answer

A) public ownership and collective ownership 
B) employee ownership and foreign corporations 
C) foreign corporations and public ownership 
D) employee ownership and collective ownership 
A) public ownership and collective ownership 
B) employee ownership and foreign corporations 
C) foreign corporations and public ownership 
D) employee ownership and collective ownership

Question 15

Compared to large businesses,which of the following statements regarding small businesses is CORRECT?

Accepted Answer

A) Small businesses are less likely to hire young employees. 
B) Small businesses are less likely to develop new products. 
C) Small businesses are more likely to be eligible for government loans or for government purchasing programs. 
D) Small businesses are more likely to be franchises. 
A) Small businesses are less likely to hire young employees. 
B) Small businesses are less likely to develop new products. 
C) Small businesses are more likely to be eligible for government loans or for government purchasing programs. 
D) Small businesses are more likely to be franchises.

Question 16

Non-farming small businesses such as insurance agencies and retail shops contribute more than half of the nation's GDP.

Accepted Answer

A) True 
 B)False

Question 17

Sole proprietorship is the most common form of business ownership.

Accepted Answer

A) True 
 B)False

Question 18

Horizontal mergers are popular in the auto and healthcare industries.

Accepted Answer

A) True 
 B)False

Question 19

Larger firms prove more successful than smaller firms in offering consumers innovative products.

Accepted Answer

A) True 
 B)False

Question 20

The board of directors of a corporation is elected by the ________.

Accepted Answer

A) corporation's employees 
B) bondholders and other creditors 
C) corporate officers 
D) stockholders 
A) corporation's employees 
B) bondholders and other creditors 
C) corporate officers 
D) stockholders

Small businesses generate over 50 percent of new jobs.

Describe the types of loans the Small Business Administration (SBA)offers to small businesses.

Government agencies offer benefits designed to help small businesses compete with larger firms.

Owners of small businesses can increase their chances of success if they:

The Small Business Administration targets specific programs to minority-owned small businesses.

If you are considering starting your own business,a key priority for you should be to:

Discuss two alternatives to private ownership and give an example of each.

Forty percent of all privately held companies are owned by women.

Most small businesses turn a profit within the first year.

When a government unit owns and operates an organization,the arrangement is known as ________.

The Small Business Administration provides incentives for small companies to hire employees who possess various types of challenges.

Alexander has just opened a bakery & café in a busy New York City neighborhood.He has received an SBA-guaranteed microloan of $13,000.Alexander can use the microloan for all of the following,EXCEPT:

Traditionally,small businesses tended to be concentrated in the ________ industry.

Alternatives to private ownership include ________.

Compared to large businesses,which of the following statements regarding small businesses is CORRECT?

Non-farming small businesses such as insurance agencies and retail shops contribute more than half of the nation's GDP.

Sole proprietorship is the most common form of business ownership.

Horizontal mergers are popular in the auto and healthcare industries.

Larger firms prove more successful than smaller firms in offering consumers innovative products.

The board of directors of a corporation is elected by the ________.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Starting Your Own Business

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 5: Small Business and Forms of Business Ownership

Small businesses generate over 50 percent of new jobs.

Describe the types of loans the Small Business Administration (SBA)offers to small businesses.

Government agencies offer benefits designed to help small businesses compete with larger firms.

Owners of small businesses can increase their chances of success if they:

The Small Business Administration targets specific programs to minority-owned small businesses.

If you are considering starting your own business,a key priority for you should be to:

Discuss two alternatives to private ownership and give an example of each.

Forty percent of all privately held companies are owned by women.

Most small businesses turn a profit within the first year.

When a government unit owns and operates an organization,the arrangement is known as ________.

The Small Business Administration provides incentives for small companies to hire employees who possess various types of challenges.

Alexander has just opened a bakery & café in a busy New York City neighborhood.He has received an SBA-guaranteed microloan of $13,000.Alexander can use the microloan for all of the following,EXCEPT:

Traditionally,small businesses tended to be concentrated in the ________ industry.

Alternatives to private ownership include ________.

Compared to large businesses,which of the following statements regarding small businesses is CORRECT?

Non-farming small businesses such as insurance agencies and retail shops contribute more than half of the nation's GDP.

Sole proprietorship is the most common form of business ownership.

Horizontal mergers are popular in the auto and healthcare industries.

Larger firms prove more successful than smaller firms in offering consumers innovative products.

The board of directors of a corporation is elected by the ________.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Starting Your Own Business

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters