Question 1

Which of the following BEST describes a business plan?

Accepted Answer

A)  a first operating plan for a new business 
B)  a focus on the product or service 
C)  a document for the bankers 
D)  a detailed description of the competition 
A)  a first operating plan for a new business 
B)  a focus on the product or service 
C)  a document for the bankers 
D)  a detailed description of the competition

Question 2

Which of the following describes the trend in entrepreneurship in recent years?

Accepted Answer

A)  The number of people starting businesses has remained the same. 
B)  The number of people starting businesses has increased. 
C)  The number of people starting businesses has slowed. 
D)  The number of people starting businesses has decreased. 
A)  The number of people starting businesses has remained the same. 
B)  The number of people starting businesses has increased. 
C)  The number of people starting businesses has slowed. 
D)  The number of people starting businesses has decreased.

Question 3

Which of the following is an agency of the federal government that offers both managerial and financial assistance to small businesses?

Accepted Answer

A)  Business Development Bank of Canada 
B)  Business Incubator Agency 
C)  Business Welfare Administration 
D)  Federal Aid Program 
A)  Business Development Bank of Canada 
B)  Business Incubator Agency 
C)  Business Welfare Administration 
D)  Federal Aid Program

Question 4

Jeff Arnold and Reggie Bradford created WebMD,an Internet provider of health care information.Early in the development of this high-growth company,Arnold and Bradford attracted a group of investors who provided them with money needed to acquire other Internet companies with similar missions.What is the investment group called?

Accepted Answer

A)  angel investors 
B)  entrepreneurial capitalists 
C)  equity entrepreneurs 
D)  investment counsellors 
A)  angel investors 
B)  entrepreneurial capitalists 
C)  equity entrepreneurs 
D)  investment counsellors

Question 5

Lachlan Stuart is employed by International Paper,a company that values his vision and creativity.To stay ahead in a very competitive industry,International Paper gives Stuart and his division almost complete autonomy to develop innovative and effective communications.Stuart is an example of which of the following type of entrepreneur?

Accepted Answer

A)  insourced entrepreneur 
B)  multipreneur 
C)  intrapreneur 
D)  corporate entrepreneur 
A)  insourced entrepreneur 
B)  multipreneur 
C)  intrapreneur 
D)  corporate entrepreneur

Question 6

What is the difference between small business owners and entrepreneurs?

Accepted Answer

A)  Small business owners started the business to pursue their idea for a new product or service. 
B)  Small business owners are risk takers. 
C)  Small business owners are innovators. 
D)  Small business owners accept the status quo and take a short-term view of the future. 
A)  Small business owners started the business to pursue their idea for a new product or service. 
B)  Small business owners are risk takers. 
C)  Small business owners are innovators. 
D)  Small business owners accept the status quo and take a short-term view of the future.

Question 7

Which of the following are individual investors or groups of experienced investors who provide funding for start-up businesses?

Accepted Answer

A)  angel investors 
B)  equity entrepreneurs 
C)  opportunity entrepreneurs 
D)  entrepreneurial capitalists 
A)  angel investors 
B)  equity entrepreneurs 
C)  opportunity entrepreneurs 
D)  entrepreneurial capitalists

Question 8

What does the hopeful entrepreneur do once he or she has finished the business plan?

Accepted Answer

The answer of What does the hopeful entrepreneur do once...

Question 9

What is one advantage of owning a small business?

Accepted Answer

A)  depending on other locations for assistance 
B)  the ability to serve specialized markets 
C)  having more financial resources 
D)  the avoidance of taxes 
A)  depending on other locations for assistance 
B)  the ability to serve specialized markets 
C)  having more financial resources 
D)  the avoidance of taxes

Question 10

Which of the following is the most common motive for becoming an entrepreneur?

Accepted Answer

A)  challenge of building a business 
B)  less risk because you are the boss 
C)  financial dependence 
D)  dissatisfaction with your current job 
A)  challenge of building a business 
B)  less risk because you are the boss 
C)  financial dependence 
D)  dissatisfaction with your current job

Question 11

Which of the following best describes the profile of web-driven entrepreneurs?

Accepted Answer

A)  female with high university education 
B)  female with high school education 
C)  male with high school education 
D)  male with high university education 
A)  female with high university education 
B)  female with high school education 
C)  male with high school education 
D)  male with high university education

Question 12

List three disadvantages that small businesses experience compared to larger,more complex companies.

Accepted Answer

Your text lists the following

Question 13

Once the business plan is finished,what is the next step?

Accepted Answer

A)  to find financing for the business 
B)  to locate customers 
C)  to create a promotional campaign 
D)  to choose a business format 
A)  to find financing for the business 
B)  to locate customers 
C)  to create a promotional campaign 
D)  to choose a business format

Question 14

Direct Business Development Bank of Canada (BDC)loans are made from funds set aside each year by Parliament.

Accepted Answer

A) True 
 B)False

Question 15

What is the first step in starting your own business?

Accepted Answer

A)  to make a business plan 
B)  to find an idea for a new product or service 
C)  to determine where the funding will come from 
D)  to do a self-assessment 
A)  to make a business plan 
B)  to find an idea for a new product or service 
C)  to determine where the funding will come from 
D)  to do a self-assessment

Question 16

Due to better advancement opportunities in Fortune 500 corporations,the number of women entrepreneurs is diminishing.

Accepted Answer

A) True 
 B)False

Question 17

An entrepreneur is the same as a small-business owner.

Accepted Answer

A) True 
 B)False

Question 18

List the four characteristics common to all small businesses.

Accepted Answer

independently managed,owned by

Question 19

It is not advisable for small businesses to use the services of CPAs and lawyers because most businesses are too small to afford the expense.

Accepted Answer

A) True 
 B)False

Question 20

Entrepreneurs,as a general group,dislike risk taking.

Accepted Answer

A) True 
 B)False

Which of the following BEST describes a business plan?

Which of the following describes the trend in entrepreneurship in recent years?

Which of the following is an agency of the federal government that offers both managerial and financial assistance to small businesses?

What is the difference between small business owners and entrepreneurs?

Which of the following are individual investors or groups of experienced investors who provide funding for start-up businesses?

What does the hopeful entrepreneur do once he or she has finished the business plan?

What is one advantage of owning a small business?

Which of the following is the most common motive for becoming an entrepreneur?

Which of the following best describes the profile of web-driven entrepreneurs?

List three disadvantages that small businesses experience compared to larger,more complex companies.

Once the business plan is finished,what is the next step?

Direct Business Development Bank of Canada (BDC)loans are made from funds set aside each year by Parliament.

What is the first step in starting your own business?

Due to better advancement opportunities in Fortune 500 corporations,the number of women entrepreneurs is diminishing.

An entrepreneur is the same as a small-business owner.

List the four characteristics common to all small businesses.

It is not advisable for small businesses to use the services of CPAs and lawyers because most businesses are too small to afford the expense.

Entrepreneurs,as a general group,dislike risk taking.

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

Which of the following BEST describes a business plan?

Which of the following describes the trend in entrepreneurship in recent years?

Which of the following is an agency of the federal government that offers both managerial and financial assistance to small businesses?

What is the difference between small business owners and entrepreneurs?

Which of the following are individual investors or groups of experienced investors who provide funding for start-up businesses?

What does the hopeful entrepreneur do once he or she has finished the business plan?

What is one advantage of owning a small business?

Which of the following is the most common motive for becoming an entrepreneur?

Which of the following best describes the profile of web-driven entrepreneurs?

List three disadvantages that small businesses experience compared to larger,more complex companies.

Once the business plan is finished,what is the next step?

Direct Business Development Bank of Canada (BDC)loans are made from funds set aside each year by Parliament.

What is the first step in starting your own business?

Due to better advancement opportunities in Fortune 500 corporations,the number of women entrepreneurs is diminishing.

An entrepreneur is the same as a small-business owner.

List the four characteristics common to all small businesses.

It is not advisable for small businesses to use the services of CPAs and lawyers because most businesses are too small to afford the expense.

Entrepreneurs,as a general group,dislike risk taking.

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