Question 1

When deciding on a bank or lender,it is better for entrepreneurs to choose an excellent financial institution with just an OK banker or lender than an OK financial institution with an excellent banker or lender.

Accepted Answer

A) True 
 B)False

Question 2

If an entrepreneur of a high-potential firm will be seeking venture capital,she should give first consideration to which of the following solutions for accounting expertise?

Accepted Answer

A)  A smaller,local firm 
B)  A regional firm 
C)  A major firm 
D)  She needs to hire a full-time accountant

Question 3

How can new venture entrepreneurs without law degrees save money on legal work?

Accepted Answer

The answer of How can new venture entrepreneurs without law...

Question 4

People who could be potential board members are increasingly cautious about getting involved for all the following reasons except:

Accepted Answer

A)  Liability 
B)  Compensation 
C)  Time 
D)  Risk

Question 5

Effective entrepreneurs set aside time for purely random activities-things done with no specific problem in mind.

Accepted Answer

A) True 
 B)False

Question 6

One price of resource ownership is an inherent ________.

Accepted Answer

The answer of One price of resource ownership is an...

Question 7

A financing strategy will probably encompass a combination of both ________ and ________ capital.

Accepted Answer

The answer of A financing strategy will probably encompass a...

Question 8

Building a company by minimizing resources is referred to in colloquial terms as ________.

Accepted Answer

The answer of Building a company by minimizing resources is...

Question 9

A board of advisors is an especially good alternative to a board of directors because they are authorized to make legal decisions.

Accepted Answer

A) True 
 B)False

Question 10

A board of advisors is not exposed to personal liability stemming from decisions made at the company.

Accepted Answer

A) True 
 B)False

Question 11

If a new venture is organized as a corporation,it must have a board of directors elected by ________.

Accepted Answer

The answer of If a new venture is organized as...

Question 12

Directors are expected to pay for their own expenses that they incur in preparing for and attending meetings.

Accepted Answer

A) True 
 B)False

Question 13

What is the best referral system for locating consultants?

Accepted Answer

The answer of What is the best referral system for...

Question 14

The best place to start in selecting an attorney is with acquaintances of the lead entrepreneur,of members of the management team,or the directors.

Accepted Answer

A) True 
 B)False

Question 15

As is the case with legal and accounting professionals,the fees that consultants charge correlate closely with the quality of their services.

Accepted Answer

A) True 
 B)False

Question 16

One advantage of owning resources during the start-up is that it puts the team in a better position to commit and decommit quickly.

Accepted Answer

A) True 
 B)False

Question 17

Entrepreneurs in high-potential start-ups should secure resources enough for the task at hand plus a cushion against adversity.

Accepted Answer

A) True 
 B)False

Question 18

Courts have held that even if a director can prove that he or she acted in good faith,that director can still be held personally responsible for the actions of officers.

Accepted Answer

A) True 
 B)False

Question 19

Effective entrepreneurs are more like than others to systematically do what?

Accepted Answer

The answer of Effective entrepreneurs are more like than others...

Exam 11: Resource Requirements

When deciding on a bank or lender,it is better for entrepreneurs to choose an excellent financial institution with just an OK banker or lender than an OK financial institution with an excellent banker or lender.

If an entrepreneur of a high-potential firm will be seeking venture capital,she should give first consideration to which of the following solutions for accounting expertise?

How can new venture entrepreneurs without law degrees save money on legal work?

People who could be potential board members are increasingly cautious about getting involved for all the following reasons except:

Effective entrepreneurs set aside time for purely random activities-things done with no specific problem in mind.

One price of resource ownership is an inherent ________.

A financing strategy will probably encompass a combination of both and capital.

Building a company by minimizing resources is referred to in colloquial terms as ________.

A board of advisors is an especially good alternative to a board of directors because they are authorized to make legal decisions.

A board of advisors is not exposed to personal liability stemming from decisions made at the company.

If a new venture is organized as a corporation,it must have a board of directors elected by ________.

Directors are expected to pay for their own expenses that they incur in preparing for and attending meetings.

What is the best referral system for locating consultants?

The best place to start in selecting an attorney is with acquaintances of the lead entrepreneur,of members of the management team,or the directors.

As is the case with legal and accounting professionals,the fees that consultants charge correlate closely with the quality of their services.

One advantage of owning resources during the start-up is that it puts the team in a better position to commit and decommit quickly.

Entrepreneurs in high-potential start-ups should secure resources enough for the task at hand plus a cushion against adversity.

Courts have held that even if a director can prove that he or she acted in good faith,that director can still be held personally responsible for the actions of officers.

Effective entrepreneurs are more like than others to systematically do what?