Question 1

About 20 percent of downsized corporate managers have become entrepreneurs.

Accepted Answer

A) True 
 B)False

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

About 51 percent of new businesses fail within five years.

Accepted Answer

A) True 
 B)False

Question 4

The majority of small companies are concentrated in the ________ and ________ industries.

Accepted Answer

A)  manufacturing; retail 
B)  manufacturing; service 
C)  retail; service 
D)  wholesale; retail 
A)  manufacturing; retail 
B)  manufacturing; service 
C)  retail; service 
D)  wholesale; retail

Question 5

Cloud computing allows businesses to use a variety of applications and has reduced costs and added flexibility.

Accepted Answer

A) True 
 B)False

Question 6

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 7

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 8

Factors that feed the economic boom behind entrepreneurship include:

Accepted Answer

A)  demographic and economic factors. 
B)  technology and cloud computing. 
C)  the shift to a service-based economy and international opportunities. 
D)  All of the above 
A)  demographic and economic factors. 
B)  technology and cloud computing. 
C)  the shift to a service-based economy and international opportunities. 
D)  All of the above

Question 9

Entrepreneurial couples who work together as co-owners of their business are referred to as:

Accepted Answer

A)  dual entrepreneurs. 
B)  corporate dropouts. 
C)  corporate cast-offs. 
D)  copreneurs. 
A)  dual entrepreneurs. 
B)  corporate dropouts. 
C)  corporate cast-offs. 
D)  copreneurs.

Question 10

As an entrepreneur, you are always working for someone else-your customers.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Women now own 28.7 percent of all privately-held businesses in the United States.

Accepted Answer

A) True 
 B)False

Question 13

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 14

Which of the following statements is not true regarding the diversity of entrepreneurs?

Accepted Answer

A)  Minority-owned businesses have come a long way in the past decade, and their success rate is climbing. 
B)  Minority-owned businesses now account for approximately 22 percent of all businesses in the U.S. 
C)  Immigrants with more education and experience than those of the past are coming to the U.S. and succeeding in entrepreneurial ventures. 
D)  The numbers of part-time and home-based entrepreneurs are rising. 
A)  Minority-owned businesses have come a long way in the past decade, and their success rate is climbing. 
B)  Minority-owned businesses now account for approximately 22 percent of all businesses in the U.S. 
C)  Immigrants with more education and experience than those of the past are coming to the U.S. and succeeding in entrepreneurial ventures. 
D)  The numbers of part-time and home-based entrepreneurs are rising.

Question 15

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 16

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

Accepted Answer

A) True 
 B)False

Question 17

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

About 20 percent of downsized corporate managers have become entrepreneurs.

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

About 51 percent of new businesses fail within five years.

The majority of small companies are concentrated in the and industries.

Cloud computing allows businesses to use a variety of applications and has reduced costs and added flexibility.

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

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

Factors that feed the economic boom behind entrepreneurship include:

Entrepreneurial couples who work together as co-owners of their business are referred to as:

As an entrepreneur, you are always working for someone else-your customers.

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

Women now own 28.7 percent of all privately-held businesses in the United States.

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

Which of the following statements is not true regarding the diversity of entrepreneurs?

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

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

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

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

About 20 percent of downsized corporate managers have become entrepreneurs.

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

About 51 percent of new businesses fail within five years.

The majority of small companies are concentrated in the ________ and ________ industries.

Cloud computing allows businesses to use a variety of applications and has reduced costs and added flexibility.

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

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

Factors that feed the economic boom behind entrepreneurship include:

Entrepreneurial couples who work together as co-owners of their business are referred to as:

As an entrepreneur, you are always working for someone else-your customers.

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

Women now own 28.7 percent of all privately-held businesses in the United States.

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

Which of the following statements is not true regarding the diversity of entrepreneurs?

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

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

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

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

The majority of small companies are concentrated in the and industries.