Question 1

Which of the following costs add to the cost of franchising pertaining to principal and interest payments?

Accepted Answer

A) insurance 
B) payroll 
C) legal and professional fees 
D) debt services 
A) insurance 
B) payroll 
C) legal and professional fees 
D) debt services

Question 2

The individual who buys the franchise is the

Accepted Answer

A) franchisee. 
B) franchisor. 
C) shareholder. 
D) partner. 
A) franchisee. 
B) franchisor. 
C) shareholder. 
D) partner.

Question 3

Which of the following is an example of an intangible asset?

Accepted Answer

A) reputation 
B) inventory 
C) plant facility 
D) machinery 
A) reputation 
B) inventory 
C) plant facility 
D) machinery

Question 4

Evaluating franchise opportunities include finding out more about all of the following except the

Accepted Answer

A) franchisor. 
B) franchise. 
C) franchisee. 
D) franchise location. 
A) franchisor. 
B) franchise. 
C) franchisee. 
D) franchise location.

Question 5

A franchise is any arrangement where the owner has licensed others to sell goods or services by which of the following?

Accepted Answer

A) trademark 
B) contact 
C) license 
D) patent 
A) trademark 
B) contact 
C) license 
D) patent

Question 6

Which of the following is not a disadvantage of a major franchise?

Accepted Answer

A) franchise fees 
B) control exercised by the franchisor 
C) track record of the franchisor 
D) awareness of unfilled promises from franchisors 
A) franchise fees 
B) control exercised by the franchisor 
C) track record of the franchisor 
D) awareness of unfilled promises from franchisors

Question 7

The Franchise Disclosure Document (FDD) contains how many categories?

Accepted Answer

A) 41 
B) 23 
C) 9 
D) 100 
A) 41 
B) 23 
C) 9 
D) 100

Question 8

Uniqueness in a product or service can be demonstrated through a new-new approach or a new-old approach.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is a question that should not be sidestepped when buying a business?

Accepted Answer

A) Where should the business be located? 
B) What types of customers does this store attract? 
C) What pricing strategy should the firm use? 
D) Are there hidden problems that exist in the operation? 
A) Where should the business be located? 
B) What types of customers does this store attract? 
C) What pricing strategy should the firm use? 
D) Are there hidden problems that exist in the operation?

Question 10

The term risk versus loss refers to the amount of return for funds invested.

Accepted Answer

A) True 
 B)False

Question 11

The extra value a business can command in a sale is known as

Accepted Answer

A) goodwill. 
B) saleable value. 
C) market value. 
D) asset value. 
A) goodwill. 
B) saleable value. 
C) market value. 
D) asset value.

Question 12

The way to approach a new business venture is to design a good or service that is unique.

Accepted Answer

A) True 
 B)False

Question 13

The _____ approach indicates the importance of people's awareness of their daily lives for developing new business ideas.

Accepted Answer

A) new-new 
B) old-old 
C) old-new 
D) new-old 
A) new-new 
B) old-old 
C) old-new 
D) new-old

Question 14

An agreement not to compete is also known as a

Accepted Answer

A) trade restriction clause. 
B) legal restraint of trade. 
C) waiver of competition clause. 
D) deferential sale of business clause. 
A) trade restriction clause. 
B) legal restraint of trade. 
C) waiver of competition clause. 
D) deferential sale of business clause.

Question 15

The franchisor's responsibility does not include providing

Accepted Answer

A) a company name. 
B) symbols and logos. 
C) management and training. 
D) a business relationship. 
A) a company name. 
B) symbols and logos. 
C) management and training. 
D) a business relationship.

Which of the following costs add to the cost of franchising pertaining to principal and interest payments?

The individual who buys the franchise is the

Which of the following is an example of an intangible asset?

Evaluating franchise opportunities include finding out more about all of the following except the

A franchise is any arrangement where the owner has licensed others to sell goods or services by which of the following?

Which of the following is not a disadvantage of a major franchise?

The Franchise Disclosure Document (FDD) contains how many categories?

Uniqueness in a product or service can be demonstrated through a new-new approach or a new-old approach.

Which of the following is a question that should not be sidestepped when buying a business?

The term risk versus loss refers to the amount of return for funds invested.

The extra value a business can command in a sale is known as

The way to approach a new business venture is to design a good or service that is unique.

The _____ approach indicates the importance of people's awareness of their daily lives for developing new business ideas.

An agreement not to compete is also known as a

The franchisor's responsibility does not include providing

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: the Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Marketing Research for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters

Exam 7: Pathways to Entrepreneurial Ventures

Which of the following costs add to the cost of franchising pertaining to principal and interest payments?

The individual who buys the franchise is the

Which of the following is an example of an intangible asset?

Evaluating franchise opportunities include finding out more about all of the following except the

A franchise is any arrangement where the owner has licensed others to sell goods or services by which of the following?

Which of the following is not a disadvantage of a major franchise?

The Franchise Disclosure Document (FDD) contains how many categories?

Uniqueness in a product or service can be demonstrated through a new-new approach or a new-old approach.

Which of the following is a question that should not be sidestepped when buying a business?

The term risk versus loss refers to the amount of return for funds invested.

The extra value a business can command in a sale is known as

The way to approach a new business venture is to design a good or service that is unique.

The _____ approach indicates the importance of people's awareness of their daily lives for developing new business ideas.

An agreement not to compete is also known as a

The franchisor's responsibility does not include providing

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: the Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Marketing Research for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Developing an Effective Business Plan

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters