Question 1

Many entrepreneurs are finding new opportunities in foreign markets.

Accepted Answer

A) True 
 B)False

Question 2

Explain sole proprietorships and partnerships.Discuss the advantages and disadvantages of each.

Accepted Answer

The sole proprietor is owned and usually

Question 3

Lending institutions are more likely to help finance the purchase of an existing business rather than the startup of a business from scratch.

Accepted Answer

A) True 
 B)False

Question 4

The most common type of partnership is a ________.

Accepted Answer

A)  limited partnership 
B)  corporate partnership 
C)  general partnership 
D)  sole partnership 
A)  limited partnership 
B)  corporate partnership 
C)  general partnership 
D)  sole partnership

Question 5

SCORE members are ________.

Accepted Answer

A)  retired executives 
B)  venture capitalists 
C)  paid by the SBA 
D)  commercial lenders 
A)  retired executives 
B)  venture capitalists 
C)  paid by the SBA 
D)  commercial lenders

Question 6

The most common type of partnership is the limited partnership.

Accepted Answer

A) True 
 B)False

Question 7

Discuss the advantages and disadvantages of corporations.

Accepted Answer

The advantages include limited liability

Question 8

An offer to buy shares made by a prospective buyer directly to the target corporation's shareholders,who then make individual decisions about whether to sell,is called a(n)________.

Accepted Answer

A)  merger 
B)  acquisition 
C)  partnership 
D)  tender offer 
A)  merger 
B)  acquisition 
C)  partnership 
D)  tender offer

Question 9

The least common type of partnership is the general partnership.

Accepted Answer

A) True 
 B)False

Question 10

The number of small businesses being started by minorities and women is declining.

Accepted Answer

A) True 
 B)False

Question 11

A(n)________ is organized to operate like a corporation but is taxed like a partnership.

Accepted Answer

A)  private corporation 
B)  public corporation 
C)  S-corporation 
D)  professional corporation 
A)  private corporation 
B)  public corporation 
C)  S-corporation 
D)  professional corporation

Question 12

Short Case Scenario 3-1
The Miller brothers (Jack, Bill, and Evan) are about to fulfill a life-long dream. They are buying a thousand-acre farm and plan to grow cotton. Seeking independence, they are not interested in bringing in any outside owners. They have obtained financing from the Farm Credit Bureau that will allow them to finance the purchase of the farm and some equipment. The brothers are realistic and expect to work very long hours. However, they have a few critical decisions left to make.
-Should the Miller brothers' farm be considered a small business?

Accepted Answer

The Miller brothers' farm should be cons

Question 13

Which of the following is the most significant recent trend in new-business startups?

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

Question 14

Company A purchased Company B.This is an example of a(n)________.

Accepted Answer

A)  merger 
B)  spin-off 
C)  divestiture 
D)  acquisition 
A)  merger 
B)  spin-off 
C)  divestiture 
D)  acquisition

Question 15

The most common type of small business is manufacturing.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following represents the most businesses in the United States?

Accepted Answer

A)  sole proprietorships 
B)  partnerships 
C)  cooperatives 
D)  corporations 
A)  sole proprietorships 
B)  partnerships 
C)  cooperatives 
D)  corporations

Question 17

Approximately ________ of all U.S.businesses employ 20 or fewer people.

Accepted Answer

A)  86 percent 
B)  66 percent 
C)  46 percent 
D)  16 percent 
A)  86 percent 
B)  66 percent 
C)  46 percent 
D)  16 percent

Question 18

About what percent of all new businesses will not last six years?

Accepted Answer

A)  16 percent 
B)  36 percent 
C)  66 percent 
D)  76 percent 
A)  16 percent 
B)  36 percent 
C)  66 percent 
D)  76 percent

Question 19

What is a private corporation?

Accepted Answer

A private corporation is one i

Question 20

Limited liability is a major advantage of sole proprietorships.

Accepted Answer

A) True 
 B)False

Many entrepreneurs are finding new opportunities in foreign markets.

Explain sole proprietorships and partnerships.Discuss the advantages and disadvantages of each.

Lending institutions are more likely to help finance the purchase of an existing business rather than the startup of a business from scratch.

The most common type of partnership is a ________.

SCORE members are ________.

The most common type of partnership is the limited partnership.

Discuss the advantages and disadvantages of corporations.

An offer to buy shares made by a prospective buyer directly to the target corporation's shareholders,who then make individual decisions about whether to sell,is called a(n)________.

The least common type of partnership is the general partnership.

The number of small businesses being started by minorities and women is declining.

A(n)________ is organized to operate like a corporation but is taxed like a partnership.

Which of the following is the most significant recent trend in new-business startups?

Company A purchased Company B.This is an example of a(n)________.

The most common type of small business is manufacturing.

Which of the following represents the most businesses in the United States?

Approximately ________ of all U.S.businesses employ 20 or fewer people.

About what percent of all new businesses will not last six years?

What is a private corporation?

Limited liability is a major advantage of sole proprietorships.

The U.S.Business Environment

Business Ethics and Social Responsibility

The Global Context of Business

Business Management

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters

Exam 3: Entrepreneurship, New Ventures, and Business Ownership

Many entrepreneurs are finding new opportunities in foreign markets.

Explain sole proprietorships and partnerships.Discuss the advantages and disadvantages of each.

Lending institutions are more likely to help finance the purchase of an existing business rather than the startup of a business from scratch.

The most common type of partnership is a ________.

SCORE members are ________.

The most common type of partnership is the limited partnership.

Discuss the advantages and disadvantages of corporations.

An offer to buy shares made by a prospective buyer directly to the target corporation's shareholders,who then make individual decisions about whether to sell,is called a(n)________.

The least common type of partnership is the general partnership.

The number of small businesses being started by minorities and women is declining.

A(n)________ is organized to operate like a corporation but is taxed like a partnership.

Which of the following is the most significant recent trend in new-business startups?

Company A purchased Company B.This is an example of a(n)________.

The most common type of small business is manufacturing.

Which of the following represents the most businesses in the United States?

Approximately ________ of all U.S.businesses employ 20 or fewer people.

About what percent of all new businesses will not last six years?

What is a private corporation?

Limited liability is a major advantage of sole proprietorships.

The U.S.Business Environment

Business Ethics and Social Responsibility

The Global Context of Business

Business Management

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters