Question 1

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. A

Question 2

Most entrepreneurs start their business between the ages of 20 and 29.

Accepted Answer

A) True 
 B)False  False

Question 3

The only people who ________ are those who never do anything or never attempt anything new.

Accepted Answer

A) succeed 
B) prosper 
C) profit 
D) fail 
A) succeed 
B) prosper 
C) profit 
D) fail D

Question 4

Because they have college degrees,a working knowledge of business,and years of management experience,both corporate castoffs and corporate dropouts who become entrepreneurs will most likely increase the small business survival rate.

Accepted Answer

A) True 
 B)False

Question 5

One study conducted by the Global Entrepreneurship Monitor (GEM)reports that nearly one in five people in the United states is working to start a business..

Accepted Answer

A) True 
 B)False

Question 6

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 7

About 75 percent of the businesses in the U.S.can be considered "small" businesses.

Accepted Answer

A) True 
 B)False

Question 8

Most family businesses survive to the second and third generations.

Accepted Answer

A) True 
 B)False

Question 9

The demographic attributes of successful entrepreneurs are:

Accepted Answer

A) limited to specific ages,genders,and ethnic backgrounds. 
B) uncertain and have not been fully studied or analyzed. 
C) are key predictors that determine how long the business will survive. 
D) highly diverse relating to age,gender,and ethnicity. 
A) limited to specific ages,genders,and ethnic backgrounds. 
B) uncertain and have not been fully studied or analyzed. 
C) are key predictors that determine how long the business will survive. 
D) highly diverse relating to age,gender,and ethnicity.

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

An important factor helping to drive the entrepreneurial trend in our economy is the favorable attitude Americans have towards entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 12

The primary cause of small business failure is lack of capital.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is NOT one of the forces driving the entrepreneurial trend in our country?

Accepted Answer

A) Shift away from a service economy 
B) Independent lifestyle 
C) International opportunities 
D) E-commerce and the World Wide Web 
A) Shift away from a service economy 
B) Independent lifestyle 
C) International opportunities 
D) E-commerce and the World Wide Web

Question 14

Small businesses actually create more jobs than do big businesses.

Accepted Answer

A) True 
 B)False

Question 15

It is estimated that ________ percent of new businesses fail within two years,while ________ percent fail within four years.

Accepted Answer

A) 35; 54 
B) 51; 64 
C) 35; 80 
D) 64; 80 
A) 35; 54 
B) 51; 64 
C) 35; 80 
D) 64; 80

Question 16

Ninety-percent of businesses in the United States are family-owned and managed and account for 62 percent of total U.S.employment.

Accepted Answer

A) True 
 B)False

Question 17

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 18

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

Accepted Answer

A) True 
 B)False

Question 19

Discuss the role that the following groups are playing in leading the ongoing surge in entrepreneurial activity:
∙ women
∙ minorities
∙ immigrants
∙ part-time entrepreneurs
∙ home-based entrepreneurs
∙ family businesses
∙ copreneurs
∙ corporate castoffs
∙ corporate dropouts

Accepted Answer

Women often face discrimination in the w

Question 20

The opportunity to reap impressive profits is the primary motivation for most entrepreneurs.

Accepted Answer

A) True 
 B)False

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

Most entrepreneurs start their business between the ages of 20 and 29.

The only people who ________ are those who never do anything or never attempt anything new.

Because they have college degrees,a working knowledge of business,and years of management experience,both corporate castoffs and corporate dropouts who become entrepreneurs will most likely increase the small business survival rate.

One study conducted by the Global Entrepreneurship Monitor (GEM)reports that nearly one in five people in the United states is working to start a business..

The majority of new business owners work:

About 75 percent of the businesses in the U.S.can be considered "small" businesses.

Most family businesses survive to the second and third generations.

The demographic attributes of successful entrepreneurs are:

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

An important factor helping to drive the entrepreneurial trend in our economy is the favorable attitude Americans have towards entrepreneurs.

The primary cause of small business failure is lack of capital.

Which of the following is NOT one of the forces driving the entrepreneurial trend in our country?

Small businesses actually create more jobs than do big businesses.

It is estimated that percent of new businesses fail within two years,while percent fail within four years.

Ninety-percent of businesses in the United States are family-owned and managed and account for 62 percent of total U.S.employment.

Potential drawbacks of entrepreneurship may include:

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

Discuss the role that the following groups are playing in leading the ongoing surge in entrepreneurial activity: ∙ women ∙ minorities ∙ immigrants ∙ part-time entrepreneurs ∙ home-based entrepreneurs ∙ family businesses ∙ copreneurs ∙ corporate castoffs ∙ corporate dropouts

The opportunity to reap impressive profits is the primary motivation for most entrepreneurs.

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Forms of Business Ownership

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Choosing the Right Location and Layout

Global Opportunities

Building a Team and Management Succession

Filters

Exam 1: The Foundations of Entrepreneurship

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

Most entrepreneurs start their business between the ages of 20 and 29.

The only people who ________ are those who never do anything or never attempt anything new.

Because they have college degrees,a working knowledge of business,and years of management experience,both corporate castoffs and corporate dropouts who become entrepreneurs will most likely increase the small business survival rate.

One study conducted by the Global Entrepreneurship Monitor (GEM)reports that nearly one in five people in the United states is working to start a business..

The majority of new business owners work:

About 75 percent of the businesses in the U.S.can be considered "small" businesses.

Most family businesses survive to the second and third generations.

The demographic attributes of successful entrepreneurs are:

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

An important factor helping to drive the entrepreneurial trend in our economy is the favorable attitude Americans have towards entrepreneurs.

The primary cause of small business failure is lack of capital.

Which of the following is NOT one of the forces driving the entrepreneurial trend in our country?

Small businesses actually create more jobs than do big businesses.

It is estimated that ________ percent of new businesses fail within two years,while ________ percent fail within four years.

Ninety-percent of businesses in the United States are family-owned and managed and account for 62 percent of total U.S.employment.

Potential drawbacks of entrepreneurship may include:

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

Discuss the role that the following groups are playing in leading the ongoing surge in entrepreneurial activity: ∙ women ∙ minorities ∙ immigrants ∙ part-time entrepreneurs ∙ home-based entrepreneurs ∙ family businesses ∙ copreneurs ∙ corporate castoffs ∙ corporate dropouts

The opportunity to reap impressive profits is the primary motivation for most entrepreneurs.

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Forms of Business Ownership

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Choosing the Right Location and Layout

Global Opportunities

Building a Team and Management Succession

Filters

It is estimated that percent of new businesses fail within two years,while percent fail within four years.