Question 1

Research indicates that most service and retail firms typically start out as a

Accepted Answer

A) losing venture. 
B) franchise. 
C) hobby. 
D) self-employment business. 
A) losing venture. 
B) franchise. 
C) hobby. 
D) self-employment business.

Question 2

Primary disadvantages of stand retailing are that it requires a significant amount of capital and time investment.

Accepted Answer

A) True 
 B)False

Question 3

Cannibalizing occurs when people do work for their part-time business while they are at their full-time job,blurring the boundary between them.

Accepted Answer

A) True 
 B)False

Question 4

_____ are often among the most expensive locations in the mall in terms of rent per square foot.

Accepted Answer

A) Large anchor stores 
B) Medium-sized boutique stores 
C) Carts and kiosks 
D) Food court stores 
A) Large anchor stores 
B) Medium-sized boutique stores 
C) Carts and kiosks 
D) Food court stores

Question 5

An approach to selling in which the salesperson recruits customers to become distributors of the products or services to others is called

Accepted Answer

A) consignment shop. 
B) network marketing. 
C) auctioning. 
D) licensing. 
A) consignment shop. 
B) network marketing. 
C) auctioning. 
D) licensing.

Question 6

Research indicates that most retail firms typically start out as a hobby.

Accepted Answer

A) True 
 B)False

Question 7

Government specifications for acceptable use of land and buildings in particular areas are called

Accepted Answer

A) licensing laws. 
B) public utility laws. 
C) environmental laws. 
D) zoning laws. 
A) licensing laws. 
B) public utility laws. 
C) environmental laws. 
D) zoning laws.

Question 8

Identify the correct statement about B2B.

Accepted Answer

A) For most of us,the B2B market is visible. 
B) An example of a B2B transaction would be an individual buying a cell phone. 
C) It involves electronically-facilitated transactions between consumers through a third party. 
D) B2B e-commerce is larger than B2C e-commerce. 
A) For most of us,the B2B market is visible. 
B) An example of a B2B transaction would be an individual buying a cell phone. 
C) It involves electronically-facilitated transactions between consumers through a third party. 
D) B2B e-commerce is larger than B2C e-commerce.

Question 9

All of the following are major concerns of moonlighting EXCEPT

Accepted Answer

A) conflict of interest. 
B) bootstrapping. 
C) cannibalizing sales. 
D) poisoning the well. 
A) conflict of interest. 
B) bootstrapping. 
C) cannibalizing sales. 
D) poisoning the well.

Question 10

In organizing your part-time small business start-up,which of the following is NOT a key consideration?

Accepted Answer

A) Cost to start-up 
B) Competition 
C) Time to start-up 
D) Permanence 
A) Cost to start-up 
B) Competition 
C) Time to start-up 
D) Permanence

Question 11

"Light a Candle"
Working as an accountant in the local government agency, Elizabeth has always had a liking for candles. She collected thousands of candles over the years - different shapes, sizes, occasions, and colors. After talking with a few co-workers, Elizabeth decided to get a kiosk at the flea market for four weeks before Christmas to sell her candles with her business name: "Light a Candle."

-"Light a Candle" can be described as

Accepted Answer

A) stand retailing. 
B) mail ordering. 
C) home retailing. 
D) consignment retailing. 
A) stand retailing. 
B) mail ordering. 
C) home retailing. 
D) consignment retailing.

Question 12

In all of the following situations,it might make better sense to undertake a part-time business EXCEPT when

Accepted Answer

A) there is a narrow window of opportunity. 
B) you lack the resources for a full-scale business. 
C) you want to gain basic experience. 
D) you are buying an existing business. 
A) there is a narrow window of opportunity. 
B) you lack the resources for a full-scale business. 
C) you want to gain basic experience. 
D) you are buying an existing business.

Question 13

The two key groups outside your business with whom you must deal with as part-time business owners are

Accepted Answer

A) the state and federal governments. 
B) the government and customers. 
C) customers and employees. 
D) employees and investors. 
A) the state and federal governments. 
B) the government and customers. 
C) customers and employees. 
D) employees and investors.

Question 14

Attempting to make yourself seem more accomplished than reality refers to

Accepted Answer

A) aggrandizing. 
B) poisoning the well. 
C) moonlighting. 
D) cannibalizing. 
A) aggrandizing. 
B) poisoning the well. 
C) moonlighting. 
D) cannibalizing.

Question 15

Which of the following statements about a business plan is false?

Accepted Answer

A) A business plan enables you to look at every aspect of your business. 
B) Business plans are important if you intend to ask others for expertise or financial investments. 
C) Estimates suggest that a business plan may take anywhere from 10 to 20 hours or more if you are new to business. 
D) If you are new to business and need to gain basic experience,you might want to obtain other types of experience before writing a business plan. 
A) A business plan enables you to look at every aspect of your business. 
B) Business plans are important if you intend to ask others for expertise or financial investments. 
C) Estimates suggest that a business plan may take anywhere from 10 to 20 hours or more if you are new to business. 
D) If you are new to business and need to gain basic experience,you might want to obtain other types of experience before writing a business plan.

Question 16

Identify the correct statement about a hosting package.

Accepted Answer

A) It should include at least 1 terabyte of traffic a month. 
B) It should give you at least five Web pages of space to tell your story. 
C) It should include at least two e-mail accounts using your domain name. 
D) It should include an online Web site editor so you can make changes to your site without buying Web-authoring software. 
A) It should include at least 1 terabyte of traffic a month. 
B) It should give you at least five Web pages of space to tell your story. 
C) It should include at least two e-mail accounts using your domain name. 
D) It should include an online Web site editor so you can make changes to your site without buying Web-authoring software.

Question 17

The advantages of home businesses are the speed and ease of setup and having a highly variable income.

Accepted Answer

A) True 
 B)False

Question 18

The more time and energy you spend preparing for a small-scale part-time business,the longer it takes to make a profit.

Accepted Answer

A) True 
 B)False

Question 19

_____ refers to creating a negative impression among your employers' customers.

Accepted Answer

A) Bootstrapping 
B) Cannibalizing 
C) Aggrandizing 
D) Poisoning the well 
A) Bootstrapping 
B) Cannibalizing 
C) Aggrandizing 
D) Poisoning the well

Question 20

The majority of the part-time businesses are stand retailing.

Accepted Answer

A) True 
 B)False

Research indicates that most service and retail firms typically start out as a

Primary disadvantages of stand retailing are that it requires a significant amount of capital and time investment.

Cannibalizing occurs when people do work for their part-time business while they are at their full-time job,blurring the boundary between them.

_____ are often among the most expensive locations in the mall in terms of rent per square foot.

An approach to selling in which the salesperson recruits customers to become distributors of the products or services to others is called

Research indicates that most retail firms typically start out as a hobby.

Government specifications for acceptable use of land and buildings in particular areas are called

Identify the correct statement about B2B.

All of the following are major concerns of moonlighting EXCEPT

In organizing your part-time small business start-up,which of the following is NOT a key consideration?

In all of the following situations,it might make better sense to undertake a part-time business EXCEPT when

The two key groups outside your business with whom you must deal with as part-time business owners are

Attempting to make yourself seem more accomplished than reality refers to

Which of the following statements about a business plan is false?

Identify the correct statement about a hosting package.

The advantages of home businesses are the speed and ease of setup and having a highly variable income.

The more time and energy you spend preparing for a small-scale part-time business,the longer it takes to make a profit.

_____ refers to creating a negative impression among your employers' customers.

The majority of the part-time businesses are stand retailing.

Small Business: Its Opportunities and Rewards

Small Business Environment: Managing External Relations

Small Business Entrepreneurs: Characteristics and Competencies

Small Business Ideas: Creativity, opportunity, and Feasibility

Small Business Entry: Paths to Full-Time Entrepreneurship

Small Business Strategies: Imitation With a Twist

Business Plans: Seeing Audiences and Your Business Clearly

Small Business Marketing: Product and Pricing Strategies

Small Business Promotion: Capturing the Eyes of Your Market

Small Business Distribution and Location

Marketing Plans: Saying How Youll Get Sales

Small Business Accounting: Projecting and Evaluating Performance

Cash: Lifeblood of the Business

Small Business Finance: Using Equity,debt,and Gifts

Assets: Inventory and Operations Management

Small Business Protection: Risk Management and Insurance

Legal Issues: Recognizing Your Small Business Needs

Human Resource Management: Small Business Considerations

Achieving Success in the Small Business

Filters

Exam 5: Small Business Entry: Paths to Part-Time Entrepreneurship

Research indicates that most service and retail firms typically start out as a

Primary disadvantages of stand retailing are that it requires a significant amount of capital and time investment.

Cannibalizing occurs when people do work for their part-time business while they are at their full-time job,blurring the boundary between them.

_____ are often among the most expensive locations in the mall in terms of rent per square foot.

An approach to selling in which the salesperson recruits customers to become distributors of the products or services to others is called

Research indicates that most retail firms typically start out as a hobby.

Government specifications for acceptable use of land and buildings in particular areas are called

Identify the correct statement about B2B.

All of the following are major concerns of moonlighting EXCEPT

In organizing your part-time small business start-up,which of the following is NOT a key consideration?

In all of the following situations,it might make better sense to undertake a part-time business EXCEPT when

The two key groups outside your business with whom you must deal with as part-time business owners are

Attempting to make yourself seem more accomplished than reality refers to

Which of the following statements about a business plan is false?

Identify the correct statement about a hosting package.

The advantages of home businesses are the speed and ease of setup and having a highly variable income.

The more time and energy you spend preparing for a small-scale part-time business,the longer it takes to make a profit.

_____ refers to creating a negative impression among your employers' customers.

The majority of the part-time businesses are stand retailing.

Small Business: Its Opportunities and Rewards

Small Business Environment: Managing External Relations

Small Business Entrepreneurs: Characteristics and Competencies

Small Business Ideas: Creativity, opportunity, and Feasibility

Small Business Entry: Paths to Full-Time Entrepreneurship

Small Business Strategies: Imitation With a Twist

Business Plans: Seeing Audiences and Your Business Clearly

Small Business Marketing: Product and Pricing Strategies

Small Business Promotion: Capturing the Eyes of Your Market

Small Business Distribution and Location

Marketing Plans: Saying How Youll Get Sales

Small Business Accounting: Projecting and Evaluating Performance

Cash: Lifeblood of the Business

Small Business Finance: Using Equity,debt,and Gifts

Assets: Inventory and Operations Management

Small Business Protection: Risk Management and Insurance

Legal Issues: Recognizing Your Small Business Needs

Human Resource Management: Small Business Considerations

Achieving Success in the Small Business

Filters