Question 1

What is the main reason why women start new businesses?

Accepted Answer

A)  need to earn more money 
B)  preference for working alone 
C)  opportunities for family members 
D)  control in organizing their time 
E)  desire to employ other women 
A)  need to earn more money 
B)  preference for working alone 
C)  opportunities for family members 
D)  control in organizing their time 
E)  desire to employ other women

Question 2

Why might an entrepreneur wish to purchase an existing business rather than start one from scratch?

Accepted Answer

An entrepreneur may wish to purchase an

Question 3

Assuming the farm is organized as a general partnership,what are the disadvantages?

Accepted Answer

The disadvantages of a general partnersh

Question 4

What is the MOST important advantage of general partnerships?

Accepted Answer

A)  the unlimited liability of the partnership 
B)  the ability to grow with the addition of new talent and money 
C)  the ease of implementing an effective control system 
D)  the increased role of luck 
E)  the need for minority partners 
A)  the unlimited liability of the partnership 
B)  the ability to grow with the addition of new talent and money 
C)  the ease of implementing an effective control system 
D)  the increased role of luck 
E)  the need for minority partners

Question 5

Which of the following,if true about the owners' plan for the new business,would strengthen the case that it should be registered as an S corporation?

Accepted Answer

A)  They want their shareholders to be personally liable for the corporation's debts. 
B)  They want to have an unlimited number of shareholders. 
C)  They do not want the company to have to pay a corporate income tax. 
D)  They do not want to have to meet any start-up requirements. 
E)  They don't want to have a board of directors. 
A)  They want their shareholders to be personally liable for the corporation's debts. 
B)  They want to have an unlimited number of shareholders. 
C)  They do not want the company to have to pay a corporate income tax. 
D)  They do not want to have to meet any start-up requirements. 
E)  They don't want to have a board of directors.

Question 6

Which of the following is the MOST significant recent trend in small-business start-ups?

Accepted Answer

A)  entrepreneurs who cross over from big business 
B)  increased opportunities for minorities 
C)  increased opportunities for women 
D)  emergence of e-commerce 
E)  global economic downturn 
A)  entrepreneurs who cross over from big business 
B)  increased opportunities for minorities 
C)  increased opportunities for women 
D)  emergence of e-commerce 
E)  global economic downturn

Question 7

Which of the following,if true,would strengthen the case for Short and Shearer's starting a new business of their own?

Accepted Answer

A)  Starting a new business would put a lot of demands on their time. 
B)  Starting a new business involves more risk than purchasing an existing one. 
C)  Starting a new business would give them a lot of freedom and independence. 
D)  Starting a new business would mean hiring many new employees right away. 
E)  Starting a new business involves a lot of stress for the proprietors. 
A)  Starting a new business would put a lot of demands on their time. 
B)  Starting a new business involves more risk than purchasing an existing one. 
C)  Starting a new business would give them a lot of freedom and independence. 
D)  Starting a new business would mean hiring many new employees right away. 
E)  Starting a new business involves a lot of stress for the proprietors.

Question 8

Explain a tender offer.

Accepted Answer

A tender offer is an offer to buy shares

Question 9

Which of the following,if true,would strengthen the case for Short and Shearer buying an existing business?

Accepted Answer

A)  Short and Shearer have a lot of ideas as to the kind of business they would like to own. 
B)  An existing business would have an existing customer base that Short and Shearer would inherit. 
C)  An existing business for sale might have difficulties that Short and Shearer would inherit. 
D)  Short and Shearer greatly value independence. 
E)  Existing small businesses are usually carrying debts. 
A)  Short and Shearer have a lot of ideas as to the kind of business they would like to own. 
B)  An existing business would have an existing customer base that Short and Shearer would inherit. 
C)  An existing business for sale might have difficulties that Short and Shearer would inherit. 
D)  Short and Shearer greatly value independence. 
E)  Existing small businesses are usually carrying debts.

Question 10

Which of the following,if true,would NOT strengthen the case that Christina has personal characteristics necessary for her new business to succeed?

Accepted Answer

A)  She is willing to take risks. 
B)  She is motivated. 
C)  She works well with others. 
D)  She is a "big picture" thinker. 
E)  She follows directions carefully. 
A)  She is willing to take risks. 
B)  She is motivated. 
C)  She works well with others. 
D)  She is a "big picture" thinker. 
E)  She follows directions carefully.

Question 11

Who invests all of the funds needed for a business but plays no role in its management?

Accepted Answer

A)  silent partner 
B)  sole proprietor 
C)  general partner 
D)  principal 
E)  director 
A)  silent partner 
B)  sole proprietor 
C)  general partner 
D)  principal 
E)  director

Question 12

Explain entrepreneurship and describe key entrepreneurial characteristics.

Accepted Answer

Entrepreneurs are people who assume the

Question 13

Explain the role of a corporation's board of directors.

Accepted Answer

The board of directors is responsible fo

Question 14

What are specific locations of Ramada,McDonald's,and Subway examples of?

Accepted Answer

A)  government entities 
B)  university sponsored businesses 
C)  franchises 
D)  networking businesses 
E)  cooperatives 
A)  government entities 
B)  university sponsored businesses 
C)  franchises 
D)  networking businesses 
E)  cooperatives

Question 15

How is the U.S.economy affected by small businesses?

Accepted Answer

Small businesses affect the U.S.economy

Question 16

Low start-up costs and tax benefits are advantages of sole proprietorships.

Accepted Answer

A) True 
 B)False

Question 17

Entrepreneurs often have more than one goal for starting a business and becoming self-employed.Which of the following reasons is the LEAST common goal of entrepreneurs?

Accepted Answer

A)  to seek independence and be their own boss 
B)  to earn a comfortable living for a period of time 
C)  to grow and expand a current business 
D)  to meet community or social obligations 
E)  to provide for their financial needs 
A)  to seek independence and be their own boss 
B)  to earn a comfortable living for a period of time 
C)  to grow and expand a current business 
D)  to meet community or social obligations 
E)  to provide for their financial needs

Question 18

Lucy has organized her craft shop as a sole proprietorship.Her sister has warned Lucy about the legal principle holding her responsible for paying off all of the debts of the business.What is the name of this principle?

Accepted Answer

A)  unlimited liability 
B)  limited liability 
C)  privity 
D)  unrestricted debt 
E)  accountability 
A)  unlimited liability 
B)  limited liability 
C)  privity 
D)  unrestricted debt 
E)  accountability

Question 19

People who assume the risk of business ownership with a primary goal of growth and expansion are called entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 20

Explain the basic issues involved in managing a corporation.

Accepted Answer

Corporations sell shares,called stock,to

What is the main reason why women start new businesses?

Why might an entrepreneur wish to purchase an existing business rather than start one from scratch?

Assuming the farm is organized as a general partnership,what are the disadvantages?

What is the MOST important advantage of general partnerships?

Which of the following,if true about the owners' plan for the new business,would strengthen the case that it should be registered as an S corporation?

Which of the following is the MOST significant recent trend in small-business start-ups?

Which of the following,if true,would strengthen the case for Short and Shearer's starting a new business of their own?

Explain a tender offer.

Which of the following,if true,would strengthen the case for Short and Shearer buying an existing business?

Which of the following,if true,would NOT strengthen the case that Christina has personal characteristics necessary for her new business to succeed?

Who invests all of the funds needed for a business but plays no role in its management?

Explain entrepreneurship and describe key entrepreneurial characteristics.

Explain the role of a corporation's board of directors.

What are specific locations of Ramada,McDonald's,and Subway examples of?

How is the U.S.economy affected by small businesses?

Low start-up costs and tax benefits are advantages of sole proprietorships.

Entrepreneurs often have more than one goal for starting a business and becoming self-employed.Which of the following reasons is the LEAST common goal of entrepreneurs?

Lucy has organized her craft shop as a sole proprietorship.Her sister has warned Lucy about the legal principle holding her responsible for paying off all of the debts of the business.What is the name of this principle?

People who assume the risk of business ownership with a primary goal of growth and expansion are called entrepreneurs.

Explain the basic issues involved in managing a corporation.

The U.S.Business Environment

Understanding Business Ethics and Social Responsibility

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality for Producing Goods and Services

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 3: Entrepreneurship, New Ventures, and Business Ownership

What is the main reason why women start new businesses?

Why might an entrepreneur wish to purchase an existing business rather than start one from scratch?

Assuming the farm is organized as a general partnership,what are the disadvantages?

What is the MOST important advantage of general partnerships?

Which of the following,if true about the owners' plan for the new business,would strengthen the case that it should be registered as an S corporation?

Which of the following is the MOST significant recent trend in small-business start-ups?

Which of the following,if true,would strengthen the case for Short and Shearer's starting a new business of their own?

Explain a tender offer.

Which of the following,if true,would strengthen the case for Short and Shearer buying an existing business?

Which of the following,if true,would NOT strengthen the case that Christina has personal characteristics necessary for her new business to succeed?

Who invests all of the funds needed for a business but plays no role in its management?

Explain entrepreneurship and describe key entrepreneurial characteristics.

Explain the role of a corporation's board of directors.

What are specific locations of Ramada,McDonald's,and Subway examples of?

How is the U.S.economy affected by small businesses?

Low start-up costs and tax benefits are advantages of sole proprietorships.

Entrepreneurs often have more than one goal for starting a business and becoming self-employed.Which of the following reasons is the LEAST common goal of entrepreneurs?

Lucy has organized her craft shop as a sole proprietorship.Her sister has warned Lucy about the legal principle holding her responsible for paying off all of the debts of the business.What is the name of this principle?

People who assume the risk of business ownership with a primary goal of growth and expansion are called entrepreneurs.

Explain the basic issues involved in managing a corporation.

The U.S.Business Environment

Understanding Business Ethics and Social Responsibility

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality for Producing Goods and Services

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters