Question 1

Describe the importance of developing a business plan.

Accepted Answer

All businesses,whether large or small,ne

Question 2

Lisa is trying to start a new business.A women's business network puts her in touch with an investor who is willing to invest in her company in exchange for an equity stake.This investor is a(n)________.

Accepted Answer

A) angel investor 
B) franchiser 
C) venture capitalist 
D) entrepreneur 
A) angel investor 
B) franchiser 
C) venture capitalist 
D) entrepreneur

Question 3

The desire to work fewer hours is one of the main drivers for those who choose to become entrepreneurs

Accepted Answer

A) True 
 B)False

Question 4

What makes entrepreneurs unique is their overwhelming desire to ________.

Accepted Answer

A) become successful 
B) utilize their creative energy 
C) manage employees 
D) make their business grow 
A) become successful 
B) utilize their creative energy 
C) manage employees 
D) make their business grow

Question 5

Franchised businesses account for over 9 million jobs in the United States.

Accepted Answer

A) True 
 B)False

Question 6

Distinguish between venture capitalists and angel investors.

Accepted Answer

Venture capitalists are business organiz

Question 7

Obtaining financing for an existing business is easier than it is for most start-up companies.

Accepted Answer

A) True 
 B)False

Question 8

MATCHING
Complete the following using the terms listed.
-A _____ outlines the goals,methods,and standards of a company.

Accepted Answer

A) seed capital 
B) globalization 
C) angel investor 
D) venture capitalist 
E) debt financing
F)information technology
G)Debt financing
H)social entrepreneur
I)classic entrepreneur
J)business incubator
K)crowd funding
L)Skunkworks
M)intrapreneurship
N)business plan 
A) seed capital 
B) globalization 
C) angel investor 
D) venture capitalist 
E) debt financing
F)information technology
G)Debt financing
H)social entrepreneur
I)classic entrepreneur
J)business incubator
K)crowd funding
L)Skunkworks
M)intrapreneurship
N)business plan

Question 9

Entrepreneurship is comparable to gambling.

Accepted Answer

A) True 
 B)False

Question 10

Entrepreneurial environments created within companies can help firms retain valuable employees who might otherwise leave to start their own businesses.

Accepted Answer

A) True 
 B)False

Question 11

The primary reasons people become entrepreneurs include all of the following reasons EXCEPT:

Accepted Answer

A) to be one's own boss. 
B) to become a financial success. 
C) to create employment opportunities for other people. 
D) to create one's own job security. 
A) to be one's own boss. 
B) to become a financial success. 
C) to create employment opportunities for other people. 
D) to create one's own job security.

Question 12

Angel investors seek out new ventures in exchange for equity.

Accepted Answer

A) True 
 B)False

Question 13

Unlike an entrepreneur who starts a business from scratch,a franchisee is not responsible for:

Accepted Answer

A) Hiring employees 
B) Establishing a brand 
C) Obtaining financing 
D) Contracting with suppliers 
A) Hiring employees 
B) Establishing a brand 
C) Obtaining financing 
D) Contracting with suppliers

Question 14

Information technology can help entrepreneurs in all of the following ways EXCEPT:

Accepted Answer

A) provide improved customer service. 
B) ensure financial success. 
C) work quickly and efficiently. 
D) project a professional image. 
A) provide improved customer service. 
B) ensure financial success. 
C) work quickly and efficiently. 
D) project a professional image.

Question 15

Angie wants to be her own boss,but she doesn't have an idea for a profitable business.What could Angie do to help her identify a successful business idea?

Accepted Answer

A) Identify the most popular companies in her area and create a replica business 
B) Ask her friends and family for suggestions 
C) Make a list of her interests and abilities and a list of businesses that match these interests and abilities 
D) Pick an industry that is not experiencing a lot of change 
A) Identify the most popular companies in her area and create a replica business 
B) Ask her friends and family for suggestions 
C) Make a list of her interests and abilities and a list of businesses that match these interests and abilities 
D) Pick an industry that is not experiencing a lot of change

Question 16

Growth in entrepreneurship is a worldwide phenomenon.

Accepted Answer

A) True 
 B)False

Question 17

MATCHING
Complete the following using the terms listed.
-_____ helps entrepreneurs work quickly and efficiently,provide attentive customer service,increase sales,and project professional images.

Accepted Answer

A) seed capital 
B) globalization 
C) angel investor 
D) venture capitalist 
E) debt financing
F)information technology
G)Debt financing
H)social entrepreneur
I)classic entrepreneur
J)business incubator
K)crowd funding
L)Skunkworks
M)intrapreneurship
N)business plan 
A) seed capital 
B) globalization 
C) angel investor 
D) venture capitalist 
E) debt financing
F)information technology
G)Debt financing
H)social entrepreneur
I)classic entrepreneur
J)business incubator
K)crowd funding
L)Skunkworks
M)intrapreneurship
N)business plan

Question 18

Isaac started his own business because he was tired of worrying about corporate downsizing despite his highly positive annual reviews.This is a common motivation for becoming an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 19

MATCHING
Complete the following using the terms listed.
-A(n)_____ recognizes a societal problem and uses business principles to develop innovative solutions.

Accepted Answer

A) seed capital 
B) globalization 
C) angel investor 
D) venture capitalist 
E) debt financing
F)information technology
G)Debt financing
H)social entrepreneur
I)classic entrepreneur
J)business incubator
K)crowd funding
L)Skunkworks
M)intrapreneurship
N)business plan 
A) seed capital 
B) globalization 
C) angel investor 
D) venture capitalist 
E) debt financing
F)information technology
G)Debt financing
H)social entrepreneur
I)classic entrepreneur
J)business incubator
K)crowd funding
L)Skunkworks
M)intrapreneurship
N)business plan

Question 20

A successful entrepreneur is visionary.

Accepted Answer

A) True 
 B)False

Describe the importance of developing a business plan.

Lisa is trying to start a new business.A women's business network puts her in touch with an investor who is willing to invest in her company in exchange for an equity stake.This investor is a(n)________.

The desire to work fewer hours is one of the main drivers for those who choose to become entrepreneurs

What makes entrepreneurs unique is their overwhelming desire to ________.

Franchised businesses account for over 9 million jobs in the United States.

Distinguish between venture capitalists and angel investors.

Obtaining financing for an existing business is easier than it is for most start-up companies.

MATCHING Complete the following using the terms listed. -A _____ outlines the goals,methods,and standards of a company.

Entrepreneurship is comparable to gambling.

Entrepreneurial environments created within companies can help firms retain valuable employees who might otherwise leave to start their own businesses.

The primary reasons people become entrepreneurs include all of the following reasons EXCEPT:

Angel investors seek out new ventures in exchange for equity.

Unlike an entrepreneur who starts a business from scratch,a franchisee is not responsible for:

Information technology can help entrepreneurs in all of the following ways EXCEPT:

Angie wants to be her own boss,but she doesn't have an idea for a profitable business.What could Angie do to help her identify a successful business idea?

Growth in entrepreneurship is a worldwide phenomenon.

MATCHING Complete the following using the terms listed. -_____ helps entrepreneurs work quickly and efficiently,provide attentive customer service,increase sales,and project professional images.

Isaac started his own business because he was tired of worrying about corporate downsizing despite his highly positive annual reviews.This is a common motivation for becoming an entrepreneur.

MATCHING Complete the following using the terms listed. -A(n)_____ recognizes a societal problem and uses business principles to develop innovative solutions.

A successful entrepreneur is visionary.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Small Business and Forms of Business Ownership

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 6: Starting Your Own Business

Describe the importance of developing a business plan.

Lisa is trying to start a new business.A women's business network puts her in touch with an investor who is willing to invest in her company in exchange for an equity stake.This investor is a(n)________.

The desire to work fewer hours is one of the main drivers for those who choose to become entrepreneurs

What makes entrepreneurs unique is their overwhelming desire to ________.

Franchised businesses account for over 9 million jobs in the United States.

Distinguish between venture capitalists and angel investors.

Obtaining financing for an existing business is easier than it is for most start-up companies.

MATCHING Complete the following using the terms listed. -A _____ outlines the goals,methods,and standards of a company.

Entrepreneurship is comparable to gambling.

Entrepreneurial environments created within companies can help firms retain valuable employees who might otherwise leave to start their own businesses.

The primary reasons people become entrepreneurs include all of the following reasons EXCEPT:

Angel investors seek out new ventures in exchange for equity.

Unlike an entrepreneur who starts a business from scratch,a franchisee is not responsible for:

Information technology can help entrepreneurs in all of the following ways EXCEPT:

Angie wants to be her own boss,but she doesn't have an idea for a profitable business.What could Angie do to help her identify a successful business idea?

Growth in entrepreneurship is a worldwide phenomenon.

MATCHING Complete the following using the terms listed. -_____ helps entrepreneurs work quickly and efficiently,provide attentive customer service,increase sales,and project professional images.

Isaac started his own business because he was tired of worrying about corporate downsizing despite his highly positive annual reviews.This is a common motivation for becoming an entrepreneur.

MATCHING Complete the following using the terms listed. -A(n)_____ recognizes a societal problem and uses business principles to develop innovative solutions.

A successful entrepreneur is visionary.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Small Business and Forms of Business Ownership

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