Question 1

Which of the following is a potential disadvantage of a home-based business?

Accepted Answer

A)  Frequent interruptions of work 
B)  Feelings of isolation 
C)  Problems with zoning laws from running a business 
D)  All of the above 
A)  Frequent interruptions of work 
B)  Feelings of isolation 
C)  Problems with zoning laws from running a business 
D)  All of the above

Question 2

What is the state's overall attitude toward your kind of business? Has it passed laws that impose restrictions on the way a company can operate? Does the state offer small business support programs of financial assistance to entrepreneurs? These questions help an entrepreneur to assess the overall:

Accepted Answer

A)  population trends. 
B)  proximity to markets 
C)  labor supply. 
D)  business climate. 
A)  population trends. 
B)  proximity to markets 
C)  labor supply. 
D)  business climate.

Question 3

To calculate the IRS, a retailer needs to know the number of customers, the number of competitors, and the total square feet of space allocated to selling his kind of product in the trading area.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following information is available from U.S. Census data?

Accepted Answer

A)  The value of the homes in an area 
B)  The number of rooms in the homes in an area 
C)  Number of vehicles owned 
D)  All of the above 
A)  The value of the homes in an area 
B)  The number of rooms in the homes in an area 
C)  Number of vehicles owned 
D)  All of the above

Question 5

Studies show that complying with the Americans with Disabilities Act (ADA) requires businesses to spend an average of almost $17,000 to bring their buildings up to ADA standards.

Accepted Answer

A) True 
 B)False

Question 6

The decline in value of store space from front to back of the shop is expressed in the 40-30-20-10 rule.

Accepted Answer

A) True 
 B)False

Question 7

An effective retail layout should:

Accepted Answer

A)  pull customers into the store. 
B)  make it easy for customers to locate the merchandise they are looking for. 
C)  take customers past displays of items they might buy on impulse. 
D)  All of the above 
A)  pull customers into the store. 
B)  make it easy for customers to locate the merchandise they are looking for. 
C)  take customers past displays of items they might buy on impulse. 
D)  All of the above

Question 8

Clothing is one of the most popular items sold in regional shopping malls.

Accepted Answer

A) True 
 B)False

Question 9

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners would have made at no cost.

Accepted Answer

A) True 
 B)False

Question 10

Developing a layout plan really is not essential unless an entrepreneur is able to build a new building to house the business.

Accepted Answer

A) True 
 B)False

Question 11

The first phase of determining where to locate a business is:

Accepted Answer

A)  choosing a state in which the business owner wants to live. 
B)  determining which city has the demographics that best fit the business. 
C)  conducting a specific site analysis. 
D)  determining which regions of the country are experiencing growth. 
A)  choosing a state in which the business owner wants to live. 
B)  determining which city has the demographics that best fit the business. 
C)  conducting a specific site analysis. 
D)  determining which regions of the country are experiencing growth.

Question 12

The central business district (CBD):

Accepted Answer

A)  is the traditional center of town. 
B)  in many cities experienced decay in years past as customers began shopping more frequently at malls and shopping centers, but are now going through revitalization programs. 
C)  attracts customers from the entire trading area of the city. 
D)  All of the above 
A)  is the traditional center of town. 
B)  in many cities experienced decay in years past as customers began shopping more frequently at malls and shopping centers, but are now going through revitalization programs. 
C)  attracts customers from the entire trading area of the city. 
D)  All of the above

Question 13

Knowing the type of labor a business needs and preparing job descriptions and job specifications in advance will help a business owner determine whether or not there is a good match with the available labor pool.

Accepted Answer

A) True 
 B)False

Question 14

A type of business that does well when located near competition is:

Accepted Answer

A)  one that has a unique product line, dissimilar to that of its competitors. 
B)  one that carries products for which customers comparison shop. 
C)  one whose location is part of its trademark. 
D)  None of the above 
A)  one that has a unique product line, dissimilar to that of its competitors. 
B)  one that carries products for which customers comparison shop. 
C)  one whose location is part of its trademark. 
D)  None of the above

Question 15

Layout is the logical arrangement of the physical facilities in a business that contribute to efficient operations, increased productivity, and higher sales.

Accepted Answer

A) True 
 B)False

Question 16

Most small companies that invest in making their locations accessible to all customers under the Americans with Disabilities Act qualify for a tax deduction of up to $15,000.

Accepted Answer

A) True 
 B)False

Question 17

Locating close to ________ is critical for manufacturers, service providers and other companies that will be competitive.

Accepted Answer

A)  markets they plan to serve 
B)  suppliers 
C)  transportation routes 
D)  airports and rail transportation 
A)  markets they plan to serve 
B)  suppliers 
C)  transportation routes 
D)  airports and rail transportation

Question 18

When examining a state's available labor force, the potential business owner needs to know:

Accepted Answer

A)  the state's labor relations history. 
B)  the demographics of the target customers. 
C)  both the number and education of the available workforce. 
D)  the proximity of its customers. 
A)  the state's labor relations history. 
B)  the demographics of the target customers. 
C)  both the number and education of the available workforce. 
D)  the proximity of its customers.

Question 19

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners could have made at a cost of:

Accepted Answer

A)  $0. 
B)  $250. 
C)  $1,000. 
D)  $8,000. 
A)  $0. 
B)  $250. 
C)  $1,000. 
D)  $8,000.

Question 20

According to the National Business Incubation Association, graduates from incubators have a success rate of ________ percent.

Accepted Answer

A)  57 
B)  67 
C)  77 
D)  87 
A)  57 
B)  67 
C)  77 
D)  87

Which of the following is a potential disadvantage of a home-based business?

What is the state's overall attitude toward your kind of business? Has it passed laws that impose restrictions on the way a company can operate? Does the state offer small business support programs of financial assistance to entrepreneurs? These questions help an entrepreneur to assess the overall:

To calculate the IRS, a retailer needs to know the number of customers, the number of competitors, and the total square feet of space allocated to selling his kind of product in the trading area.

Which of the following information is available from U.S. Census data?

Studies show that complying with the Americans with Disabilities Act (ADA) requires businesses to spend an average of almost $17,000 to bring their buildings up to ADA standards.

The decline in value of store space from front to back of the shop is expressed in the 40-30-20-10 rule.

An effective retail layout should:

Clothing is one of the most popular items sold in regional shopping malls.

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners would have made at no cost.

Developing a layout plan really is not essential unless an entrepreneur is able to build a new building to house the business.

The first phase of determining where to locate a business is:

The central business district (CBD):

Knowing the type of labor a business needs and preparing job descriptions and job specifications in advance will help a business owner determine whether or not there is a good match with the available labor pool.

A type of business that does well when located near competition is:

Layout is the logical arrangement of the physical facilities in a business that contribute to efficient operations, increased productivity, and higher sales.

Most small companies that invest in making their locations accessible to all customers under the Americans with Disabilities Act qualify for a tax deduction of up to $15,000.

Locating close to ________ is critical for manufacturers, service providers and other companies that will be competitive.

When examining a state's available labor force, the potential business owner needs to know:

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners could have made at a cost of:

According to the National Business Incubation Association, graduates from incubators have a success rate of ________ percent.

The Foundations of Entrepreneurship

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

Global Opportunities

Building a Team and Management Succession

Filters

Exam 14: Choosing the Right Location and Layout

Which of the following is a potential disadvantage of a home-based business?

What is the state's overall attitude toward your kind of business? Has it passed laws that impose restrictions on the way a company can operate? Does the state offer small business support programs of financial assistance to entrepreneurs? These questions help an entrepreneur to assess the overall:

To calculate the IRS, a retailer needs to know the number of customers, the number of competitors, and the total square feet of space allocated to selling his kind of product in the trading area.

Which of the following information is available from U.S. Census data?

Studies show that complying with the Americans with Disabilities Act (ADA) requires businesses to spend an average of almost $17,000 to bring their buildings up to ADA standards.

The decline in value of store space from front to back of the shop is expressed in the 40-30-20-10 rule.

An effective retail layout should:

Clothing is one of the most popular items sold in regional shopping malls.

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners would have made at no cost.

Developing a layout plan really is not essential unless an entrepreneur is able to build a new building to house the business.

The first phase of determining where to locate a business is:

The central business district (CBD):

Knowing the type of labor a business needs and preparing job descriptions and job specifications in advance will help a business owner determine whether or not there is a good match with the available labor pool.

A type of business that does well when located near competition is:

Layout is the logical arrangement of the physical facilities in a business that contribute to efficient operations, increased productivity, and higher sales.

Most small companies that invest in making their locations accessible to all customers under the Americans with Disabilities Act qualify for a tax deduction of up to $15,000.

Locating close to ________ is critical for manufacturers, service providers and other companies that will be competitive.

When examining a state's available labor force, the potential business owner needs to know:

The Justice Department estimates that more than 20 percent of the cases customers have filed under the Americans with Disabilities Act involved changes the business owners could have made at a cost of:

According to the National Business Incubation Association, graduates from incubators have a success rate of ________ percent.

The Foundations of Entrepreneurship

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

Global Opportunities

Building a Team and Management Succession

Filters