Question 1

Women now own 41 percent of all privately-held businesses in the United States.

Accepted Answer

A) True 
 B)False

Question 2

Nearly two-thirds of entrepreneurs start their businesses between the ages of 25 and 44.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following statements about women-owned businesses is false?

Accepted Answer

A) The businesses women start tend to be smaller than those men start. 
B) Women own about 28 percent of all privately held businesses in the U.S. 
C) The survival rate of women-owned businesses is much lower than that of U.S.businesses overall. 
D) Most women-owned companies are concentrated in retailing and services. 
A) The businesses women start tend to be smaller than those men start. 
B) Women own about 28 percent of all privately held businesses in the U.S. 
C) The survival rate of women-owned businesses is much lower than that of U.S.businesses overall. 
D) Most women-owned companies are concentrated in retailing and services.

Question 4

About 25 percent of new businesses fail within six years.

Accepted Answer

A) True 
 B)False

Question 5

An entrepreneur is one who:

Accepted Answer

A) is willing to attempt to implement a business concept and then give up if it does not meet immediate expectations. 
B) understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept. 
C) knows that the concept they are about to develop will result in a profitable business. 
D) creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities. 
A) is willing to attempt to implement a business concept and then give up if it does not meet immediate expectations. 
B) understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept. 
C) knows that the concept they are about to develop will result in a profitable business. 
D) creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities.

Question 6

According to the U.S.Small Business Administration,a common delineation of a small business is one that employs fewer than:

Accepted Answer

A) 50 people. 
B) 100 people. 
C) 250 people. 
D) 500 people. 
A) 50 people. 
B) 100 people. 
C) 250 people. 
D) 500 people.

Question 7

Successful entrepreneurs recognize that their most valuable asset is their time,and they learn to manage it effectively to make themselves and their companies more productive; having passion about their businesses,products,and customers enables them to stay motivated.

Accepted Answer

A) True 
 B)False

Question 8

Expanding a business usually requires no significant changes in structure or business practices.

Accepted Answer

A) True 
 B)False

Question 9

According to a study conducted by the Center for Women's Business Research,the most common reason women give for starting their own businesses is to:

Accepted Answer

A) seize a market opportunity. 
B) avoid the limitations of the "glass ceiling." 
C) gain control over their schedule. 
D) create the opportunity to leverage their full skill set. 
A) seize a market opportunity. 
B) avoid the limitations of the "glass ceiling." 
C) gain control over their schedule. 
D) create the opportunity to leverage their full skill set.

Question 10

John has come to you for advice on starting a business venture.He wants to know the best way to gain the experience he'll need.You suggest that he:

Accepted Answer

A) read a small business book. 
B) seek experience in the field he wishes to enter by working for another firm. 
C) determine his weaknesses and return to school for a term or two. 
D) just jump in and learn as he goes. 
A) read a small business book. 
B) seek experience in the field he wishes to enter by working for another firm. 
C) determine his weaknesses and return to school for a term or two. 
D) just jump in and learn as he goes.

Question 11

If an entrepreneur has a good enough product or service to sell,a business plan is not really necessary since the product or service will sell itself.

Accepted Answer

A) True 
 B)False

Question 12

Most startup companies can expect to need ________ capital than they anticipate.

Accepted Answer

A) less 
B) the same 
C) more 
D) within 10% of the 
A) less 
B) the same 
C) more 
D) within 10% of the

Question 13

Of the 25 million businesses in the U.S.,about 40 percent are family owned and managed.

Accepted Answer

A) True 
 B)False

Question 14

A major advantage of launching a business part-time is the lower risk it offers in case the business fails.

Accepted Answer

A) True 
 B)False

Question 15

Small companies have created two-thirds to three-fourths of the net new jobs in the U.S.economy.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is a benefit of entrepreneurship?

Accepted Answer

A) The opportunity to gain control over your own destiny 
B) The opportunity to reach your full potential 
C) The opportunity to do what you enjoy 
D) All of the above 
A) The opportunity to gain control over your own destiny 
B) The opportunity to reach your full potential 
C) The opportunity to do what you enjoy 
D) All of the above

Question 17

Which of the following forces is driving the entrepreneurial trend in our nation?

Accepted Answer

A) Increased entrepreneurial educational opportunities 
B) E-commerce and the World Wide Web 
C) Technological advancements and modern business machinery 
D) All of the above 
A) Increased entrepreneurial educational opportunities 
B) E-commerce and the World Wide Web 
C) Technological advancements and modern business machinery 
D) All of the above

Question 18

Corporate downsizing has spawned a generation of entrepreneurs known as "corporate castoffs."

Accepted Answer

A) True 
 B)False

Question 19

Small companies that have expanded successfully into foreign markets tend to rely on all but which of the following strategies?

Accepted Answer

A) Research foreign markets thoroughly. 
B) Focus on many countries initially. 
C) Utilize government resources designed to help small companies establish an international presence. 
D) Forge alliances with local partners. 
A) Research foreign markets thoroughly. 
B) Focus on many countries initially. 
C) Utilize government resources designed to help small companies establish an international presence. 
D) Forge alliances with local partners.

Question 20

The 21st century has seen record numbers of entrepreneurs launching businesses.

Accepted Answer

A) True 
 B)False

Women now own 41 percent of all privately-held businesses in the United States.

Nearly two-thirds of entrepreneurs start their businesses between the ages of 25 and 44.

Which of the following statements about women-owned businesses is false?

About 25 percent of new businesses fail within six years.

An entrepreneur is one who:

According to the U.S.Small Business Administration,a common delineation of a small business is one that employs fewer than:

Successful entrepreneurs recognize that their most valuable asset is their time,and they learn to manage it effectively to make themselves and their companies more productive; having passion about their businesses,products,and customers enables them to stay motivated.

Expanding a business usually requires no significant changes in structure or business practices.

According to a study conducted by the Center for Women's Business Research,the most common reason women give for starting their own businesses is to:

John has come to you for advice on starting a business venture.He wants to know the best way to gain the experience he'll need.You suggest that he:

If an entrepreneur has a good enough product or service to sell,a business plan is not really necessary since the product or service will sell itself.

Most startup companies can expect to need ________ capital than they anticipate.

Of the 25 million businesses in the U.S.,about 40 percent are family owned and managed.

A major advantage of launching a business part-time is the lower risk it offers in case the business fails.

Small companies have created two-thirds to three-fourths of the net new jobs in the U.S.economy.

Which of the following is a benefit of entrepreneurship?

Which of the following forces is driving the entrepreneurial trend in our nation?

Corporate downsizing has spawned a generation of entrepreneurs known as "corporate castoffs."

Small companies that have expanded successfully into foreign markets tend to rely on all but which of the following strategies?

The 21st century has seen record numbers of entrepreneurs launching businesses.

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

Women now own 41 percent of all privately-held businesses in the United States.

Nearly two-thirds of entrepreneurs start their businesses between the ages of 25 and 44.

Which of the following statements about women-owned businesses is false?

About 25 percent of new businesses fail within six years.

An entrepreneur is one who:

According to the U.S.Small Business Administration,a common delineation of a small business is one that employs fewer than:

Successful entrepreneurs recognize that their most valuable asset is their time,and they learn to manage it effectively to make themselves and their companies more productive; having passion about their businesses,products,and customers enables them to stay motivated.

Expanding a business usually requires no significant changes in structure or business practices.

According to a study conducted by the Center for Women's Business Research,the most common reason women give for starting their own businesses is to:

John has come to you for advice on starting a business venture.He wants to know the best way to gain the experience he'll need.You suggest that he:

If an entrepreneur has a good enough product or service to sell,a business plan is not really necessary since the product or service will sell itself.

Most startup companies can expect to need ________ capital than they anticipate.

Of the 25 million businesses in the U.S.,about 40 percent are family owned and managed.

A major advantage of launching a business part-time is the lower risk it offers in case the business fails.

Small companies have created two-thirds to three-fourths of the net new jobs in the U.S.economy.

Which of the following is a benefit of entrepreneurship?

Which of the following forces is driving the entrepreneurial trend in our nation?

Corporate downsizing has spawned a generation of entrepreneurs known as "corporate castoffs."

Small companies that have expanded successfully into foreign markets tend to rely on all but which of the following strategies?

The 21st century has seen record numbers of entrepreneurs launching businesses.

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