Question 1

Small businesses can provide more personalized service than a large corporation when looking at selling internationally.

Accepted Answer

A) True 
 B)False

Question 2

Most small businesses do not think internationally.

Accepted Answer

A) True 
 B)False

Question 3

Commercial loan officers serve as a resource for small business owners for information regarding risk management.

Accepted Answer

A) True 
 B)False

Question 4

Entrepreneurs avoid risk and place a high priority on security.

Accepted Answer

A) True 
 B)False

Question 5

Give an idea for a potentially successful home-based business.What important criteria should the business meet?

Accepted Answer

you can identify a m...

Question 6

Intrapreneurs make use of ________to develop and launch new products and generate new profits.

Accepted Answer

A)  government supplied physical and financial resources
B)  old ideas abandoned by entrepreneurs
C)  their employer's existing human,financial,and physical resources
D)  their own personal financial resourcesE) None of the above
F) B) and C)

Question 7

A great way to learn about small business operations is to work for a small business owner.

Accepted Answer

A) True 
 B)False

Question 8

Within the small business sector,there is some debate about what in terms of small-business success and failure?

Accepted Answer

A)  the skills needed to be an entrepreneur
B)  the role of government
C)  how to make a profit
D)  how many new small businesses fail each yearE) C) and D)
F) All of the above

Question 9

Entrepreneurs are well advised to avoid buying an existing business.

Accepted Answer

A) True 
 B)False

Question 10

Provincial and local governments offer financing for a business.

Accepted Answer

A) True 
 B)False

Question 11

Among established businesses,the percentage of female entrepreneurs rose from the early 1990s to 2012.

Accepted Answer

A) True 
 B)False

Question 12

Carlos hopes to start his own business.One good way is through the purchase of a franchise.

Accepted Answer

A) True 
 B)False

Question 13

Name three potential sources of capital for small and medium-sized enterprises.

Accepted Answer

Supplier credit,personal savin...

Question 14

All of the following are important to creditors as they consider making a small-business loan  except :

Accepted Answer

A)  the character of the small-business owner.
B)  financial statements prepared by an accountant.
C)  the number of elderly in the community.
D)  the business plan.E) A) and B)
F) A) and C)

Question 15

An entrepreneurial team consists of:

Accepted Answer

A)  experienced managers from different areas of business.
B)  managers with similar skills,abilities,and interests.
C)  a group of wealthy investors who share a vision for a product.
D)  representatives from management,labour,and the government who work together to solve a company's problems in a creative way.E) All of the above
F) None of the above

Question 16

When preparing the executive summary section of a business plan,it is important to remember:

Accepted Answer

A)  to list all the qualifications,experience,and education of the entrepreneur.
B)  that computer software programs provide the information needed to complete this section.
C)  that the goal is to capture the attention of bankers and other investors who receive many business plans every day.
D)  that a perfect business plan starts in this section.E) B) and C)
F) A) and C)

Question 17

Entrepreneurial teams combine the creative marketing and production ideas of a group of experienced people.

Accepted Answer

A) True 
 B)False

Question 18

Questions about how much authority to delegate,and to whom,are easier issues for a family-run businesses since they "can't fire family."

Accepted Answer

A) True 
 B)False

Question 19

Sharaf decided to work for the family business.She will find that this is a waste of time as her work is used to make someone else successful.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following best describes the opportunities available to small businesses in international markets?

Accepted Answer

A)  Higher business costs eliminate the profit opportunities in global markets.
B)  Most foreign buyers prefer to deal with large,well-known corporations rather than small businesses.
C)  The threat of terrorist activities prevents small businesses from competing internationally.
D)  The world market is a much larger,and potentially more lucrative,market than the Canadian domestic market.E) None of the above
F) All of the above

Exam 7: Entrepreneurship and Starting a Small Business

Intrapreneurs make use of ________to develop and launch new products and generate new profits.

Correct AnswerverifiedShow Answer

Commercial loan officers serve as a resource for small business owners for information regarding risk management.

Correct AnswerverifiedShow Answer

Entrepreneurs are well advised to avoid buying an existing business.

Correct AnswerverifiedShow Answer

All of the following are important to creditors as they consider making a small-business loan except :

Correct AnswerverifiedShow Answer

A great way to learn about small business operations is to work for a small business owner.

Correct AnswerverifiedShow Answer

Which of the following best describes the opportunities available to small businesses in international markets?

Correct AnswerverifiedShow Answer

Within the small business sector,there is some debate about what in terms of small-business success and failure?

Correct AnswerverifiedShow Answer

Most small businesses do not think internationally.

Correct AnswerverifiedShow Answer

Small businesses can provide more personalized service than a large corporation when looking at selling internationally.

Correct AnswerverifiedShow Answer

An entrepreneurial team consists of:

Correct AnswerverifiedShow Answer

Give an idea for a potentially successful home-based business.What important criteria should the business meet?

Correct Answerverifiedyou can identify a m...View AnswerShow Answer

Entrepreneurs avoid risk and place a high priority on security.

Correct AnswerverifiedShow Answer

Name three potential sources of capital for small and medium-sized enterprises.

Correct AnswerverifiedSupplier credit,personal savin...View AnswerShow Answer

Sharaf decided to work for the family business.She will find that this is a waste of time as her work is used to make someone else successful.

Correct AnswerverifiedShow Answer

Provincial and local governments offer financing for a business.

Correct AnswerverifiedShow Answer

Questions about how much authority to delegate,and to whom,are easier issues for a family-run businesses since they "can't fire family."

Correct AnswerverifiedShow Answer

Entrepreneurial teams combine the creative marketing and production ideas of a group of experienced people.

Correct AnswerverifiedShow Answer

Among established businesses,the percentage of female entrepreneurs rose from the early 1990s to 2012.

Correct AnswerverifiedShow Answer

Carlos hopes to start his own business.One good way is through the purchase of a franchise.

Correct AnswerverifiedShow Answer

When preparing the executive summary section of a business plan,it is important to remember:

Correct AnswerverifiedShow Answer

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you can identify a m...
View Answer

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Supplier credit,personal savin...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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