Question 1

Entrepreneurs start a business with the hope that they will be compensated for their investment of time,expertise,and money with profits.

Accepted Answer

A) True 
 B)False

Question 2

List three advantages that small businesses have over larger,more complex companies.

Accepted Answer

The text lists the following f

Question 3

Which of the following is financing obtained from investment companies that specialize in financing small,high-growth companies and receive an ownership interest and a voice in management in return for their money?

Accepted Answer

A)  equity financing 
B)  entrepreneurial capital 
C)  venture capital 
D)  debt financing 
A)  equity financing 
B)  entrepreneurial capital 
C)  venture capital 
D)  debt financing

Question 4

Which of the following does the Business Development Bank of Canada offer?

Accepted Answer

A)  the elimination of sales and employee taxation for the first three years of operation 
B)  employee recruiting, hiring, and firing 
C)  bank loans 
D)  entrepreneurial ideas 
A)  the elimination of sales and employee taxation for the first three years of operation 
B)  employee recruiting, hiring, and firing 
C)  bank loans 
D)  entrepreneurial ideas

Question 5

Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following two forms of business financing describe borrowed funds and ownership funds,respectively?

Accepted Answer

A)  debt; equity 
B)  credit; leverage 
C)  equity; debt 
D)  equity; leverage 
A)  debt; equity 
B)  credit; leverage 
C)  equity; debt 
D)  equity; leverage

Question 7

Once Keeler Monroe had decided he wanted to quit working as a tax preparer and go into some kind of business for himself,he did a self-assessment.What will his next step be?

Accepted Answer

A)  to create a business plan 
B)  to determine where the funding will come from 
C)  to find the idea for his business 
D)  to look for customers 
A)  to create a business plan 
B)  to determine where the funding will come from 
C)  to find the idea for his business 
D)  to look for customers

Question 8

Michael Bronner made a killing in the direct marketing business as the cofounder and CEO of Bronner Slosberg Humphrey.His newest venture,Upromise Inc.,enlists some of America's largest corporations to help families pay for postsecondary education.The 40-year-old Bronner will more than likely start at least one more new company before he retires.What type of entrepreneur is Bonner?

Accepted Answer

A)  a multipreneur 
B)  an intrapreneur 
C)  a growth entrepreneur 
D)  an interpreneur 
A)  a multipreneur 
B)  an intrapreneur 
C)  a growth entrepreneur 
D)  an interpreneur

Question 9

Which of the following best describes intrapreneurs?

Accepted Answer

A)  They have the characteristics of creativity and vision, but are not risk takers. 
B)  They receive higher salaries and better employee benefits. 
C)  They have a low degree of autonomy because they work for a large corporation. 
D)  They run mini-companies within large corporations. 
A)  They have the characteristics of creativity and vision, but are not risk takers. 
B)  They receive higher salaries and better employee benefits. 
C)  They have a low degree of autonomy because they work for a large corporation. 
D)  They run mini-companies within large corporations.

Question 10

David Dworkin is the founder and owner of Swoozie's,a chain of stores that carry eclectic lines of wrapping paper,stationery,invitations,and gifts for affluent women.He is a classic entrepreneur who envisions having stores across the United States and Canada.Which of the following type of entrepreneurs best describes David?

Accepted Answer

A)  growth-oriented entrepreneur 
B)  intrapreneur 
C)  multipreneur 
D)  interpreneur 
A)  growth-oriented entrepreneur 
B)  intrapreneur 
C)  multipreneur 
D)  interpreneur

Question 11

Gord Larose and his friend David Allan worked at Oracle,a giant company.They dreamed up a scheme for renting software over the Internet.Instead of quitting their jobs,they reported to work on Monday,explained their plan to their boss,and began working to make their idea a reality.Larose and Allan are examples of which of the following type of entrepreneur?

Accepted Answer

A)  growth-oriented entrepreneurs 
B)  interpreneurs 
C)  multipreneurs 
D)  intrapreneurs 
A)  growth-oriented entrepreneurs 
B)  interpreneurs 
C)  multipreneurs 
D)  intrapreneurs

Question 12

Pim Bouwman quit his lucrative job as a consultant to start a retail website that specializes in Dutch tulip bulbs.To fund his website,he borrowed money from his friends and relatives.In other words,he used which type of financing?

Accepted Answer

A)  venture 
B)  liquid 
C)  debt 
D)  equity 
A)  venture 
B)  liquid 
C)  debt 
D)  equity

Question 13

What is one way to ease the burden of managing a business?

Accepted Answer

A)  Operate the business 20 hours a week. 
B)  Hire outside consultants. 
C)  Do all the work yourself and hire no employees. 
D)  Keep minimal inventory on hand. 
A)  Operate the business 20 hours a week. 
B)  Hire outside consultants. 
C)  Do all the work yourself and hire no employees. 
D)  Keep minimal inventory on hand.

Question 14

What is the difference between the small business owner and the entrepreneur?

Accepted Answer

A)  The entrepreneur is responsible for the profits of the business. 
B)  The entrepreneur assumes the risk of the business. 
C)  The entrepreneur files taxes for the business. 
D)  The entrepreneur manages the business. 
A)  The entrepreneur is responsible for the profits of the business. 
B)  The entrepreneur assumes the risk of the business. 
C)  The entrepreneur files taxes for the business. 
D)  The entrepreneur manages the business.

Question 15

Entrepreneurs are less likely to accept the status quo and generally take a longer-term view than small-business owners.

Accepted Answer

A) True 
 B)False

Question 16

List the three most common causes for business failure.

Accepted Answer

economic factors,fin

Question 17

Many classic entrepreneurs who start small and plan to keep their business small are described as which of the following?

Accepted Answer

A)  intrapreneurs 
B)  multipreneurs 
C)  micropreneurs 
D)  interpreneurs 
A)  intrapreneurs 
B)  multipreneurs 
C)  micropreneurs 
D)  interpreneurs

Question 18

What is the first step in starting a new business?

Accepted Answer

a self-assessment to determine

Question 19

What is one of the main reasons the number of people starting businesses has decreased?

Accepted Answer

A)  a desire for more security 
B)  difficulty obtaining financing 
C)  a desire to avoid the stress of business ownership 
D)  a desire for corporate benefits such as extended health insurance, vacation, etc. 
A)  a desire for more security 
B)  difficulty obtaining financing 
C)  a desire to avoid the stress of business ownership 
D)  a desire for corporate benefits such as extended health insurance, vacation, etc.

Question 20

One of the biggest advantages that a small business has is a greater ability to serve specialized markets.

Accepted Answer

A) True 
 B)False

Entrepreneurs start a business with the hope that they will be compensated for their investment of time,expertise,and money with profits.

List three advantages that small businesses have over larger,more complex companies.

Which of the following is financing obtained from investment companies that specialize in financing small,high-growth companies and receive an ownership interest and a voice in management in return for their money?

Which of the following does the Business Development Bank of Canada offer?

Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

Which of the following two forms of business financing describe borrowed funds and ownership funds,respectively?

Once Keeler Monroe had decided he wanted to quit working as a tax preparer and go into some kind of business for himself,he did a self-assessment.What will his next step be?

Which of the following best describes intrapreneurs?

Pim Bouwman quit his lucrative job as a consultant to start a retail website that specializes in Dutch tulip bulbs.To fund his website,he borrowed money from his friends and relatives.In other words,he used which type of financing?

What is one way to ease the burden of managing a business?

What is the difference between the small business owner and the entrepreneur?

Entrepreneurs are less likely to accept the status quo and generally take a longer-term view than small-business owners.

List the three most common causes for business failure.

Many classic entrepreneurs who start small and plan to keep their business small are described as which of the following?

What is the first step in starting a new business?

What is one of the main reasons the number of people starting businesses has decreased?

One of the biggest advantages that a small business has is a greater ability to serve specialized markets.

Politics Governments’ Roles

Economics Evolving Systems

Social Society, Corporate Responsibility, and Making Ethical Decisions

Technology Managing Information for Business Success

International The Global Marketplace

Analyzing the Business

Forms of Business Ownership

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Marketing The Customer Focus

Creating Marketing Strategies

Achieving World-Class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance Maximizing the Value

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Exam 6: Entrepreneurship and Small Business

Entrepreneurs start a business with the hope that they will be compensated for their investment of time,expertise,and money with profits.

List three advantages that small businesses have over larger,more complex companies.

Which of the following is financing obtained from investment companies that specialize in financing small,high-growth companies and receive an ownership interest and a voice in management in return for their money?

Which of the following does the Business Development Bank of Canada offer?

Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

Which of the following two forms of business financing describe borrowed funds and ownership funds,respectively?

Once Keeler Monroe had decided he wanted to quit working as a tax preparer and go into some kind of business for himself,he did a self-assessment.What will his next step be?

Which of the following best describes intrapreneurs?

Pim Bouwman quit his lucrative job as a consultant to start a retail website that specializes in Dutch tulip bulbs.To fund his website,he borrowed money from his friends and relatives.In other words,he used which type of financing?

What is one way to ease the burden of managing a business?

What is the difference between the small business owner and the entrepreneur?

Entrepreneurs are less likely to accept the status quo and generally take a longer-term view than small-business owners.

List the three most common causes for business failure.

Many classic entrepreneurs who start small and plan to keep their business small are described as which of the following?

What is the first step in starting a new business?

What is one of the main reasons the number of people starting businesses has decreased?

One of the biggest advantages that a small business has is a greater ability to serve specialized markets.

Politics Governments’ Roles

Economics Evolving Systems

Social Society, Corporate Responsibility, and Making Ethical Decisions

Technology Managing Information for Business Success

International The Global Marketplace

Analyzing the Business

Forms of Business Ownership

Management and Leadership in Today’s Organizations

Designing Organizational Structures

Motivating Employees

Managing Human Resources and Labour Relations

Marketing The Customer Focus

Creating Marketing Strategies

Achieving World-Class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance Maximizing the Value

Filters