Question 1

Small companies pay more than ________ percent of total private payroll in the United States.

Accepted Answer

A) 33 
B) 45 
C) 55 
D) 99 
A) 33 
B) 45 
C) 55 
D) 99

Question 2

The majority of new business owners devote more than 40 hours per week to their companies.

Accepted Answer

A) True 
 B)False

Question 3

Diversity may be considered a characteristic of entrepreneurs,as they don't fit any statistical norm.

Accepted Answer

A) True 
 B)False

Question 4

In a large organization,an individual may be stifled and limited by a wide variety of factors.However,by owning one's own business,the only limits are one's own creativity,talent,and determination.In this sense,small business ownership offers the advantage of the:

Accepted Answer

A) opportunity to reach one's full potential. 
B) opportunity to reap unlimited profits. 
C) chance to learn from others' mistakes. 
D) ability to accumulate certain wealth. 
A) opportunity to reach one's full potential. 
B) opportunity to reap unlimited profits. 
C) chance to learn from others' mistakes. 
D) ability to accumulate certain wealth.

Question 5

A recent small business Internet survey shows small businesses that use the Web to market their products and services outperform those that don't.

Accepted Answer

A) True 
 B)False

Question 6

Women own an estimated ________ percent of all privately-held U.S.businesses.

Accepted Answer

A) 18 
B) 28 
C) 41 
D) 51 
A) 18 
B) 28 
C) 41 
D) 51

Question 7

An often fatal error made by many small business owners is to open their businesses on a "shoestring," causing them to be undercapitalized.

Accepted Answer

A) True 
 B)False

Question 8

There is concern over the future of entrepreneurship because so few high school and college students want to start their own companies.

Accepted Answer

A) True 
 B)False

Question 9

David Birch,president of the research firm Cognetics,suggests that three percent of small businesses create approximately ________ percent of new jobs.

Accepted Answer

A) 50 
B) 60 
C) 70 
D) 80 
A) 50 
B) 60 
C) 70 
D) 80

Question 10

If you were Hugo,would you sell Bill the business under the terms discussed in the case? Explain.

Accepted Answer

Yes,if I were Hugo,I would sell Bill the

Question 11

________ percent of all U.S.businesses are family owned and managed.

Accepted Answer

A) Twenty-five 
B) Fifty 
C) Seventy 
D) Ninety 
A) Twenty-five 
B) Fifty 
C) Seventy 
D) Ninety

Question 12

Describe the factors that are driving the current entrepreneurial trend in the U.S.economy.

Accepted Answer

∙ A more positive attitude toward entrep

Question 13

Which of the following is a characteristic of copreneurs?

Accepted Answer

A) Mutual respect 
B) Complementary business skills 
C) A clear division of roles and authority 
D) All of the above 
A) Mutual respect 
B) Complementary business skills 
C) A clear division of roles and authority 
D) All of the above

Question 14

Entrepreneurs may find benefit from the Internet due to its potential:

Accepted Answer

A) if the organization is willing to invest millions of dollars in this effort. 
B) only if the entrepreneur has a high level of technical abilities. 
C) as a relatively low-cost solution to expand its revenue generating abilities. 
D) to take all pressure off other attributes of the business venture. 
A) if the organization is willing to invest millions of dollars in this effort. 
B) only if the entrepreneur has a high level of technical abilities. 
C) as a relatively low-cost solution to expand its revenue generating abilities. 
D) to take all pressure off other attributes of the business venture.

Question 15

Which of the following statements concerning small businesses and international markets is false?

Accepted Answer

A) Although terrorism and global recession have slowed the growth of international trade somewhat,global opportunities for small businesses have a long-term positive outlook. 
B) Although the U.S.is an attractive market,approximately 95 percent of the world's population lives outside its borders. 
C) Because exporting is so complex and requires a company to have so many international experts on staff,exporting is not feasible for small businesses. 
D) Small companies comprise 97 percent of all businesses engaged in exporting,yet they account for only 30 percent of the nation's export sales. 
A) Although terrorism and global recession have slowed the growth of international trade somewhat,global opportunities for small businesses have a long-term positive outlook. 
B) Although the U.S.is an attractive market,approximately 95 percent of the world's population lives outside its borders. 
C) Because exporting is so complex and requires a company to have so many international experts on staff,exporting is not feasible for small businesses. 
D) Small companies comprise 97 percent of all businesses engaged in exporting,yet they account for only 30 percent of the nation's export sales.

Question 16

Entrepreneurs typically possess:

Accepted Answer

A) the ability to easily access capital. 
B) a set of unique skills that is usually accompanied by advanced degrees in several areas. 
C) a high level of commitment,have a tolerance for ambiguity,are flexible and tenacious. 
D) specialized technical abilities. 
A) the ability to easily access capital. 
B) a set of unique skills that is usually accompanied by advanced degrees in several areas. 
C) a high level of commitment,have a tolerance for ambiguity,are flexible and tenacious. 
D) specialized technical abilities.

Question 17

Most entrepreneurs have invested the time to develop a sound business plan.

Accepted Answer

A) True 
 B)False

Question 18

Most entrepreneurs believe that ________ is what matters most,but ________ is the most important financial resource for a small business owner.

Accepted Answer

A) cash; profit 
B) profit; cash 
C) profit; inventory 
D) inventory; cash 
A) cash; profit 
B) profit; cash 
C) profit; inventory 
D) inventory; cash

Question 19

Entrepreneurs are not willing to give up a steady paycheck.

Accepted Answer

A) True 
 B)False

Question 20

Small companies comprise 97 percent of all businesses engaged in exporting,yet they account for only 29 percent of the nation's export sales.

Accepted Answer

A) True 
 B)False

Small companies pay more than ________ percent of total private payroll in the United States.

The majority of new business owners devote more than 40 hours per week to their companies.

Diversity may be considered a characteristic of entrepreneurs,as they don't fit any statistical norm.

In a large organization,an individual may be stifled and limited by a wide variety of factors.However,by owning one's own business,the only limits are one's own creativity,talent,and determination.In this sense,small business ownership offers the advantage of the:

A recent small business Internet survey shows small businesses that use the Web to market their products and services outperform those that don't.

Women own an estimated ________ percent of all privately-held U.S.businesses.

An often fatal error made by many small business owners is to open their businesses on a "shoestring," causing them to be undercapitalized.

There is concern over the future of entrepreneurship because so few high school and college students want to start their own companies.

David Birch,president of the research firm Cognetics,suggests that three percent of small businesses create approximately ________ percent of new jobs.

If you were Hugo,would you sell Bill the business under the terms discussed in the case? Explain.

________ percent of all U.S.businesses are family owned and managed.

Describe the factors that are driving the current entrepreneurial trend in the U.S.economy.

Which of the following is a characteristic of copreneurs?

Entrepreneurs may find benefit from the Internet due to its potential:

Which of the following statements concerning small businesses and international markets is false?

Entrepreneurs typically possess:

Most entrepreneurs have invested the time to develop a sound business plan.

Most entrepreneurs believe that is what matters most,but is the most important financial resource for a small business owner.

Entrepreneurs are not willing to give up a steady paycheck.

Small companies comprise 97 percent of all businesses engaged in exporting,yet they account for only 29 percent of the nation's export sales.

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

Small companies pay more than ________ percent of total private payroll in the United States.

The majority of new business owners devote more than 40 hours per week to their companies.

Diversity may be considered a characteristic of entrepreneurs,as they don't fit any statistical norm.

In a large organization,an individual may be stifled and limited by a wide variety of factors.However,by owning one's own business,the only limits are one's own creativity,talent,and determination.In this sense,small business ownership offers the advantage of the:

A recent small business Internet survey shows small businesses that use the Web to market their products and services outperform those that don't.

Women own an estimated ________ percent of all privately-held U.S.businesses.

An often fatal error made by many small business owners is to open their businesses on a "shoestring," causing them to be undercapitalized.

There is concern over the future of entrepreneurship because so few high school and college students want to start their own companies.

David Birch,president of the research firm Cognetics,suggests that three percent of small businesses create approximately ________ percent of new jobs.

If you were Hugo,would you sell Bill the business under the terms discussed in the case? Explain.

________ percent of all U.S.businesses are family owned and managed.

Describe the factors that are driving the current entrepreneurial trend in the U.S.economy.

Which of the following is a characteristic of copreneurs?

Entrepreneurs may find benefit from the Internet due to its potential:

Which of the following statements concerning small businesses and international markets is false?

Entrepreneurs typically possess:

Most entrepreneurs have invested the time to develop a sound business plan.

Most entrepreneurs believe that ________ is what matters most,but ________ is the most important financial resource for a small business owner.

Entrepreneurs are not willing to give up a steady paycheck.

Small companies comprise 97 percent of all businesses engaged in exporting,yet they account for only 29 percent of the nation's export sales.

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

Most entrepreneurs believe that is what matters most,but is the most important financial resource for a small business owner.