Question 1

Eaton is writing the location plan for his business plan. He should be sure to identify the company's major equipment because

Accepted Answer

A)  this is the largest expense he will have for his startup. 
B)  he does not plan to work from home. 
C)  it is important to present the proper image to his clients. 
D)  this can ensure that the financial section of the plan will include funds for their purchase. 
A)  this is the largest expense he will have for his startup. 
B)  he does not plan to work from home. 
C)  it is important to present the proper image to his clients. 
D)  this can ensure that the financial section of the plan will include funds for their purchase.

Question 2

Which of the following statements concerning business environment conditions for a new business is true?

Accepted Answer

A)  State governments will help new business by levying taxes. 
B)  Determining the zoning is important because it may limit a company's operations. 
C)  Many states offer location incentives to attract jobs to very stable areas. 
D)  Finding an area that has a low cost of living means a low standard of living for employees. 
A)  State governments will help new business by levying taxes. 
B)  Determining the zoning is important because it may limit a company's operations. 
C)  Many states offer location incentives to attract jobs to very stable areas. 
D)  Finding an area that has a low cost of living means a low standard of living for employees.

Question 3

Blogs and podcasts are among the emerging options for an online presence.

Accepted Answer

A) True 
 B)False

Question 4

Because business-to-business (B2B) model success stories generally receive more publicity than business-to-consumer (B2C) model ventures do, the potential for B2C opportunities are overlooked.

Accepted Answer

A) True 
 B)False

Question 5

Genevieve just completed her residency and is ready to open her medical office as a general practitioner. The image her office should convey is

Accepted Answer

A)  trendy, minimalist, and futuristic with bold colors and modern art. 
B)  old-fashioned, dark, and somber with dark colors and heavy furniture. 
C)  solid, trustworthy, and confident with neutral colors and comfortable furniture. 
D)  light-hearted and whimsical with pastel colors and playful art. 
A)  trendy, minimalist, and futuristic with bold colors and modern art. 
B)  old-fashioned, dark, and somber with dark colors and heavy furniture. 
C)  solid, trustworthy, and confident with neutral colors and comfortable furniture. 
D)  light-hearted and whimsical with pastel colors and playful art.

Question 6

Auction sites generate most of their revenue through listing fees and commissions.

Accepted Answer

A) True 
 B)False

Question 7

Zoning ordinances often apply to factors related to

Accepted Answer

A)  nonrelated employees working in a home. 
B)  commercial signage. 
C)  the storage of hazardous materials. 
D)  All of these are correct. 
A)  nonrelated employees working in a home. 
B)  commercial signage. 
C)  the storage of hazardous materials. 
D)  All of these are correct.

Question 8

What are some emerging options for online businesses?

Accepted Answer

Emerging platforms for online ventures i

Question 9

Match the term with its definition.
-Machines designed to serve specialized functions in the production process

Accepted Answer

A) auction sites 
B) brick-and-mortar facility 
C) business incubator 
D) business-to-business (B2
B)  model 
E) business-to-customer (B2
C)  model
F)consumer-to-consumer (C2
C)  model
G)content-based model
H)disintermediation
I)e-commerce
J)general-purpose equipment
K)home-based business
L)information-based model
M)special-purpose equipment
N)transaction-based model
O)zoning ordinances 
A) auction sites 
B) brick-and-mortar facility 
C) business incubator 
D) business-to-business (B2
B)  model 
E) business-to-customer (B2
C)  model
F)consumer-to-consumer (C2
C)  model
G)content-based model
H)disintermediation
I)e-commerce
J)general-purpose equipment
K)home-based business
L)information-based model
M)special-purpose equipment
N)transaction-based model
O)zoning ordinances

Question 10

The major difference between the information-based model and the content-based model is the

Accepted Answer

A)  presence of ads in the content-based model. 
B)  ability to contact the site developer in the information-based model. 
C)  presence of an order-processing feature in the information-based model. 
D)  the ability for the visitor to post comments on the content-based model. 
A)  presence of ads in the content-based model. 
B)  ability to contact the site developer in the information-based model. 
C)  presence of an order-processing feature in the information-based model. 
D)  the ability for the visitor to post comments on the content-based model.

Question 11

Which of the following is a challenge for a B2C e-commerce business?

Accepted Answer

A)  The amount of time involved in modifying the appearance of the website 
B)  The inability to change prices quickly 
C)  The inability to change merchandise mixes quickly 
D)  Customers who refuse to purchase a product without first seeing it 
A)  The amount of time involved in modifying the appearance of the website 
B)  The inability to change prices quickly 
C)  The inability to change merchandise mixes quickly 
D)  Customers who refuse to purchase a product without first seeing it

Question 12

To maximize sales and profits, a discount shoe store should create an atmosphere similar to higher price point shoe stores because the customers will expect the same atmosphere.

Accepted Answer

A) True 
 B)False

Question 13

Juanita is considering locating her consulting business in her home. Which of the following might be her greatest challenge?

Accepted Answer

A)  An increase in the amount of time needed to get the business running 
B)  Maintaining a professional image 
C)  An increase in the amount of taxes owed to the IRS 
D)  A decrease in the amount of time spent with friends 
A)  An increase in the amount of time needed to get the business running 
B)  Maintaining a professional image 
C)  An increase in the amount of taxes owed to the IRS 
D)  A decrease in the amount of time spent with friends

Question 14

Arthur's business needs a physical building. Arthur's most important decision will be

Accepted Answer

A)  where to locate. 
B)  how much to spend. 
C)  whether to rent or own. 
D)  whether to build or purchase an existing structure. 
A)  where to locate. 
B)  how much to spend. 
C)  whether to rent or own. 
D)  whether to build or purchase an existing structure.

Question 15

Helen is planning to open a high-fashion clothing store for young professional women. Which of the following descriptors is the most important consideration for the fixtures?

Accepted Answer

A)  Economical 
B)  Elegant 
C)  Feminine 
D)  Practical 
A)  Economical 
B)  Elegant 
C)  Feminine 
D)  Practical

Question 16

Reliable Construction created a website to post photos of some of their completed projects and display their address and phone number, along with a list of the types of projects they can complete. Reliable has used the _____ model.

Accepted Answer

A)  transaction-based 
B)  content-based 
C)  information-based 
D)  customer-relationship-based 
A)  transaction-based 
B)  content-based 
C)  information-based 
D)  customer-relationship-based

Question 17

According to government surveys, about _____ of all U.S. business owners choose to run their businesses primarily out of their home.

Accepted Answer

A)  10 percent 
B)  half 
C)  25 percent 
D)  35 percent 
A)  10 percent 
B)  half 
C)  25 percent 
D)  35 percent

Question 18

For a hair stylist, the top priority in the location decision would be

Accepted Answer

A)  his or her personal preference. 
B)  the availability of resources. 
C)  customer accessibility. 
D)  business environment conditions. 
A)  his or her personal preference. 
B)  the availability of resources. 
C)  customer accessibility. 
D)  business environment conditions.

Question 19

ShoeBiz produces shoes that until recently have been available only at the most exclusive stores. ShoeBiz decided to create its own website and sell directly to the consumer. This strategy is known as

Accepted Answer

A)  intermediation. 
B)  disintermediation. 
C)  disinterment. 
D)  dismantling the distribution chain. 
A)  intermediation. 
B)  disintermediation. 
C)  disinterment. 
D)  dismantling the distribution chain.

Question 20

Many e-commerce companies generate a lot of sales by merging the content- and transaction-based models into one website.

Accepted Answer

A) True 
 B)False

Exam 9: The Location Plan

Eaton is writing the location plan for his business plan. He should be sure to identify the company's major equipment because

Which of the following statements concerning business environment conditions for a new business is true?

Blogs and podcasts are among the emerging options for an online presence.

Because business-to-business (B2B) model success stories generally receive more publicity than business-to-consumer (B2C) model ventures do, the potential for B2C opportunities are overlooked.

Genevieve just completed her residency and is ready to open her medical office as a general practitioner. The image her office should convey is

Auction sites generate most of their revenue through listing fees and commissions.

Zoning ordinances often apply to factors related to

What are some emerging options for online businesses?

Match the term with its definition. -Machines designed to serve specialized functions in the production process

The major difference between the information-based model and the content-based model is the

Which of the following is a challenge for a B2C e-commerce business?

To maximize sales and profits, a discount shoe store should create an atmosphere similar to higher price point shoe stores because the customers will expect the same atmosphere.

Juanita is considering locating her consulting business in her home. Which of the following might be her greatest challenge?

Arthur's business needs a physical building. Arthur's most important decision will be

Helen is planning to open a high-fashion clothing store for young professional women. Which of the following descriptors is the most important consideration for the fixtures?

Reliable Construction created a website to post photos of some of their completed projects and display their address and phone number, along with a list of the types of projects they can complete. Reliable has used the _____ model.

According to government surveys, about _____ of all U.S. business owners choose to run their businesses primarily out of their home.

For a hair stylist, the top priority in the location decision would be

ShoeBiz produces shoes that until recently have been available only at the most exclusive stores. ShoeBiz decided to create its own website and sell directly to the consumer. This strategy is known as

Many e-commerce companies generate a lot of sales by merging the content- and transaction-based models into one website.

The Entrepreneurial Lifethe Entrepreneurial Life

Integrity, Ethics, and Social Entrepreneurship

Starting a Small Business

Franchises and Buyouts

The Family Business

The Business Plan: Visualizing the Dream

The Marketing Plan

The Organizational Plan: Teams, Legal Structures, Alliances, and Directors

Understanding a Firms Financial Statements

Forecasting Financial Requirements

A Firms Sources of Financing

Planning for the Harvest

Building Customer Relationships

Product Development and Supply Chain Management

Pricing and Credit Decisions

Promotional Planning

Global Opportunities for Small Businesses

Professional Management and the Small Business

Managing Human Resources

Managing Small Business Operations

Managing the Firms Assets

Managing Risk

Filters