Question 1

You don't usually need a business plan to attract potential investors.

Accepted Answer

A) True 
 B)False

Question 2

It is smarter to focus on the big picture instead of business details.

Accepted Answer

A) True 
 B)False

Question 3

The main disadvantage of franchising affects

Accepted Answer

A)  the consumer. 
B)  the franchisor. 
C)  the franchisee. 
D)  both b and c. 
E)  the grantor. 
A)  the consumer. 
B)  the franchisor. 
C)  the franchisee. 
D)  both b and c. 
E)  the grantor.

Question 4

The majority of small businesses are found in the production industry.

Accepted Answer

A) True 
 B)False

Question 5

Because of their small size, small businesses affect the U.S. economy very little.

Accepted Answer

A) True 
 B)False

Question 6

Businesses seem to cluster in which of the following industries?

Accepted Answer

A)  Service industries 
B)  Distribution industries 
C)  Production industries 
D)  Financial industries 
E)  All of the above 
A)  Service industries 
B)  Distribution industries 
C)  Production industries 
D)  Financial industries 
E)  All of the above

Question 7

Successful entrepreneurs are born to have their own business.

Accepted Answer

A) True 
 B)False

Question 8

An advantage for the franchisee is the opportunity to start a business with limited capital.

Accepted Answer

A) True 
 B)False

You don't usually need a business plan to attract potential investors.

It is smarter to focus on the big picture instead of business details.

The main disadvantage of franchising affects

The majority of small businesses are found in the production industry.

Because of their small size, small businesses affect the U.S. economy very little.

Businesses seem to cluster in which of the following industries?

Successful entrepreneurs are born to have their own business.

An advantage for the franchisee is the opportunity to start a business with limited capital.

Exploring the World of Business and Economics

Ethics and Social Responsibility in Business

Global Business

Choosing a Form of Business Ownership

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Building Customer Relationships Through Effective Marketing

Creating and Pricing Products That Satisfy Customers

Distributing and Promoting Products

Exploring Social Media and E-Business

Using Management and Accounting Information

Mastering Financial Management

Filters

Exam 5: Small Business, Entrepreneurship, and Franchises

You don't usually need a business plan to attract potential investors.

It is smarter to focus on the big picture instead of business details.

The main disadvantage of franchising affects

The majority of small businesses are found in the production industry.

Because of their small size, small businesses affect the U.S. economy very little.

Businesses seem to cluster in which of the following industries?

Successful entrepreneurs are born to have their own business.

An advantage for the franchisee is the opportunity to start a business with limited capital.

Exploring the World of Business and Economics

Ethics and Social Responsibility in Business

Global Business

Choosing a Form of Business Ownership

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Building Customer Relationships Through Effective Marketing

Creating and Pricing Products That Satisfy Customers

Distributing and Promoting Products

Exploring Social Media and E-Business

Using Management and Accounting Information

Mastering Financial Management

Filters