Question 1

Not-for-Profit organizations cannot incorporate in Canada.

Accepted Answer

A) True 
 B)False  False

Question 2

Identify some common threats to a new firm.

Accepted Answer

Some common threats to new firms include: 
The entry of new unexpected competition 
 Increased cost of labour,supplies or raw materials 
Changes to the economic landscape like a recession,increased interest rates,higher taxes,currency fluctuations and inflation 
 Catastrophic events or so-called acts of God like fire,flood and similar events or the sudden death of a partner 
 Criminal acts such as shoplifting,burglary or embezzlement by employees

Question 3

Which of the following is not one of the three broad approaches to managing risk?

Accepted Answer

A) Reduce 
B) Renew 
C) Transfer 
D) Retain 
A) Reduce 
B) Renew 
C) Transfer 
D) Retain B

Question 4

What does a mentor do?

Accepted Answer

A mentor won't tell you what t

Question 5

Which of the following types of insurance covers your liability to customers injured on your premises,or injured off your premises by a product you have sold to them?

Accepted Answer

A) Business interruption or loss-of-income insurance 
B) Credit insurance 
C) Business interruption insurance 
D) General liability insurance 
A) Business interruption or loss-of-income insurance 
B) Credit insurance 
C) Business interruption insurance 
D) General liability insurance

Question 6

Under this business form,the owner has complete control over the conduct and management of the business.

Accepted Answer

A) Limited partnership 
B) General partnership 
C) Sole proprietorship 
D) Corporation 
A) Limited partnership 
B) General partnership 
C) Sole proprietorship 
D) Corporation

Question 7

Which of the following types of insurance will enable you to continue to pay the bills if your business should be closed down by damage due to fire,flood,or other catastrophe?

Accepted Answer

A) Credit insurance 
B) Business interruption or loss-of-income insurance 
C) Key-person insurance 
D) General liability insurance 
A) Credit insurance 
B) Business interruption or loss-of-income insurance 
C) Key-person insurance 
D) General liability insurance

Question 8

Describe the advantages of the co-operative form of business.

Accepted Answer

Money and jobs stay in the local econom

Question 9

Limited partners have one major power-the ability to remove the general partner(s).

Accepted Answer

A) True 
 B)False

Question 10

A co-operative is owned and operated by:

Accepted Answer

A) The public sector 
B) The provincial government 
C) The federal government 
D) Its membership 
A) The public sector 
B) The provincial government 
C) The federal government 
D) Its membership

Question 11

A non disclosure agreement (NDA)allows you to share details of your intellectual property with other people whose input you may be seeking without jeopardizing the information.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is considered to be a disadvantage of the general partnership form of business organization?

Accepted Answer

A) Growth potential 
B) Divided authority 
C) Greater access to capital 
D) Greater talent pool 
A) Growth potential 
B) Divided authority 
C) Greater access to capital 
D) Greater talent pool

Question 13

What makes a trademark valuable?

Accepted Answer

The value of a trademark lies in the goo

Question 14

A ______ is a word,symbol,picture,design,or combination of these that distinguishes your goods and services from those of others in the marketplace.

Accepted Answer

A) Trademark 
B) Patent 
C) Copyright 
D) Registered symbol 
A) Trademark 
B) Patent 
C) Copyright 
D) Registered symbol

Question 15

Credit unions are:

Accepted Answer

A) Agricultural co-operatives 
B) Marketing co-operatives 
C) Financial co-operatives 
D) Manufacturing co-operatives 
A) Agricultural co-operatives 
B) Marketing co-operatives 
C) Financial co-operatives 
D) Manufacturing co-operatives

Question 16

What are the benefits of registering your trademark with a government agency?

Accepted Answer

To register a trademark means to file it

Question 17

Describe the three broad approaches to managing risk.

Accepted Answer

You can reduce it by taking some defens

Question 18

Which of the following company names does not require formal registration for a sole proprietorship?

Accepted Answer

A) Eager Beaver 
B) Fanciful Flowers 
C) Sunlight Spa 
D) Peter Wan's Painting Professionals 
A) Eager Beaver 
B) Fanciful Flowers 
C) Sunlight Spa 
D) Peter Wan's Painting Professionals

Question 19

A general partnership is most similar to a _______,expect for the number of people running the business.

Accepted Answer

A) Corporation 
B) Limited partnership 
C) Multiple partnership 
D) Sole proprietorship 
A) Corporation 
B) Limited partnership 
C) Multiple partnership 
D) Sole proprietorship

Question 20

A limited liability partnership (LLP)is typically only available to manufacturing businesses.

Accepted Answer

A) True 
 B)False

Not-for-Profit organizations cannot incorporate in Canada.

Identify some common threats to a new firm.

Which of the following is not one of the three broad approaches to managing risk?

What does a mentor do?

Which of the following types of insurance covers your liability to customers injured on your premises,or injured off your premises by a product you have sold to them?

Under this business form,the owner has complete control over the conduct and management of the business.

Which of the following types of insurance will enable you to continue to pay the bills if your business should be closed down by damage due to fire,flood,or other catastrophe?

Describe the advantages of the co-operative form of business.

Limited partners have one major power-the ability to remove the general partner(s).

A co-operative is owned and operated by:

A non disclosure agreement (NDA)allows you to share details of your intellectual property with other people whose input you may be seeking without jeopardizing the information.

Which of the following is considered to be a disadvantage of the general partnership form of business organization?

What makes a trademark valuable?

A ______ is a word,symbol,picture,design,or combination of these that distinguishes your goods and services from those of others in the marketplace.

Credit unions are:

What are the benefits of registering your trademark with a government agency?

Describe the three broad approaches to managing risk.

Which of the following company names does not require formal registration for a sole proprietorship?

A general partnership is most similar to a _______,expect for the number of people running the business.

A limited liability partnership (LLP)is typically only available to manufacturing businesses.

Buying a Franchise

Marketing

Financing Your Business and Accounting Practices

Legal Considerations

Business Plans

Market Feasibility Study

Exploring Business Ideas and Opportunities

Assessing Your Potential for an Entrepreneurial Career

Buying a Business

Sales

Filters

Exam 6: Cost and Profitability Assessment

Not-for-Profit organizations cannot incorporate in Canada.

Identify some common threats to a new firm.

Which of the following is not one of the three broad approaches to managing risk?

What does a mentor do?

Which of the following types of insurance covers your liability to customers injured on your premises,or injured off your premises by a product you have sold to them?

Under this business form,the owner has complete control over the conduct and management of the business.

Which of the following types of insurance will enable you to continue to pay the bills if your business should be closed down by damage due to fire,flood,or other catastrophe?

Describe the advantages of the co-operative form of business.

Limited partners have one major power-the ability to remove the general partner(s).

A co-operative is owned and operated by:

A non disclosure agreement (NDA)allows you to share details of your intellectual property with other people whose input you may be seeking without jeopardizing the information.

Which of the following is considered to be a disadvantage of the general partnership form of business organization?

What makes a trademark valuable?

A ______ is a word,symbol,picture,design,or combination of these that distinguishes your goods and services from those of others in the marketplace.

Credit unions are:

What are the benefits of registering your trademark with a government agency?

Describe the three broad approaches to managing risk.

Which of the following company names does not require formal registration for a sole proprietorship?

A general partnership is most similar to a _______,expect for the number of people running the business.

A limited liability partnership (LLP)is typically only available to manufacturing businesses.

Buying a Franchise

Marketing

Financing Your Business and Accounting Practices

Legal Considerations

Business Plans

Market Feasibility Study

Exploring Business Ideas and Opportunities

Assessing Your Potential for an Entrepreneurial Career

Buying a Business

Sales

Filters