Question 1

What is one way for the owner of a small business to keep in touch with all areas of the business?

Accepted Answer

A)  hire assistant managers to report to him 
B)  work in each area one day a week 
C)  do all the work himself and hire no employees. 
D)  have a solid business plan 
A)  hire assistant managers to report to him 
B)  work in each area one day a week 
C)  do all the work himself and hire no employees. 
D)  have a solid business plan B

Question 2

Retail stores are the most popular category of small businesses.

Accepted Answer

A) True 
 B)False  False

Question 3

According to the text, which of the following is a characteristic of the entrepreneurial personality?

Accepted Answer

A)  ambivalent 
B)  inclusive 
C)  talkative 
D)  visionary 
A)  ambivalent 
B)  inclusive 
C)  talkative 
D)  visionary D

Question 4

What should a small business owner do on a constant basis that will help identify strengths and weaknesses and explore possible opportunities for expansion?

Accepted Answer

A)  have strategic meetings 
B)  review the business plan 
C)  do audits 
D)  read industry magazines 
A)  have strategic meetings 
B)  review the business plan 
C)  do audits 
D)  read industry magazines

Question 5

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 oneself 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 oneself and hire no employees 
D)  keep minimal inventory on hand

Question 6

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 7

In 1984, Suzanne Pogell wanted to learn to sail, but she could find no one to teach her. She finally convinced someone to teach her to sail, and after mastering sailing, she started an all-woman sailing school called Womanship. Pogell started small and plans to stay small. Which type of entrepreneur is Pogell?

Accepted Answer

A)  a micropreneur 
B)  an interpreneur 
C)  an intrapreneur 
D)  a multipreneur 
A)  a micropreneur 
B)  an interpreneur 
C)  an intrapreneur 
D)  a multipreneur

Question 8

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 9

An advantage of a small manufacturer over a large manufacturer is the speed with which new products can be introduced to the marketplace.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

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

Question 11

What is the most common use for a business plan?

Accepted Answer

to persuade lenders

Question 12

List the four characteristics common to all small businesses.

Accepted Answer

independently managed, owned b

Question 13

What is the most popular type of small business?

Accepted Answer

The answer of What is the most popular type of...

Question 14

According to the text, if you want to start your own business, what is a good way to get ideas about business types?

Accepted Answer

A)  Read magazines. 
B)  Brainstorm with friends and family. 
C)  Go to conferences. 
D)  Watch Dragon's Den. 
A)  Read magazines. 
B)  Brainstorm with friends and family. 
C)  Go to conferences. 
D)  Watch Dragon's Den.

Question 15

Marc Adler is the owner of Macquarium, a multimillion-dollar communications company that does everything from video productions to creating websites to public relations campaigns. Adler began this company when he could not find anyone in Hollywood who was willing to let him get into the movie making business. Adler is an example of which of the following?

Accepted Answer

A)  venture capitalist 
B)  entrepreneur 
C)  franchiser 
D)  capitalistic adventurer 
A)  venture capitalist 
B)  entrepreneur 
C)  franchiser 
D)  capitalistic adventurer

Question 16

Small business refers to which of the following?

Accepted Answer

A)  only the bottom 10 percent of all businesses 
B)  the size and impact of a company in the industry 
C)  companies with fewer than 30 employees 
D)  firms with less than $100,000 in sales 
A)  only the bottom 10 percent of all businesses 
B)  the size and impact of a company in the industry 
C)  companies with fewer than 30 employees 
D)  firms with less than $100,000 in sales

Question 17

Edie Lopez is opening a catering business because, as an entrepreneur, she will enjoy which of the following?

Accepted Answer

A)  guaranteed profits 
B)  being her own boss 
C)  shorter work hours 
D)  interest-free loans 
A)  guaranteed profits 
B)  being her own boss 
C)  shorter work hours 
D)  interest-free loans

Question 18

The first step in starting your own business is the creation of a unique marketable idea.

Accepted Answer

A) True 
 B)False

Question 19

The two sources for debt financing are angel investors and venture capitalists.

Accepted Answer

A) True 
 B)False

Question 20

Many of Canada's financial institutions offer advice on starting, operating, planning, and selling a business.

Accepted Answer

A) True 
 B)False

What is one way for the owner of a small business to keep in touch with all areas of the business?

Retail stores are the most popular category of small businesses.

According to the text, which of the following is a characteristic of the entrepreneurial personality?

What should a small business owner do on a constant basis that will help identify strengths and weaknesses and explore possible opportunities for expansion?

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

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

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.

An advantage of a small manufacturer over a large manufacturer is the speed with which new products can be introduced to the marketplace.

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

What is the most common use for a business plan?

List the four characteristics common to all small businesses.

What is the most popular type of small business?

According to the text, if you want to start your own business, what is a good way to get ideas about business types?

Small business refers to which of the following?

Edie Lopez is opening a catering business because, as an entrepreneur, she will enjoy which of the following?

The first step in starting your own business is the creation of a unique marketable idea.

The two sources for debt financing are angel investors and venture capitalists.

Many of Canada's financial institutions offer advice on starting, operating, planning, and selling a business.

Political Environment

Economic Environment

Social Environment

Technological Environment

International Environment

Understanding 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

Creating Marketing Strategies

Achieving World-class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance

Filters

Exam 6: Entrepreneurship and Small Business

What is one way for the owner of a small business to keep in touch with all areas of the business?

Retail stores are the most popular category of small businesses.

According to the text, which of the following is a characteristic of the entrepreneurial personality?

What should a small business owner do on a constant basis that will help identify strengths and weaknesses and explore possible opportunities for expansion?

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

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

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.

An advantage of a small manufacturer over a large manufacturer is the speed with which new products can be introduced to the marketplace.

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

What is the most common use for a business plan?

List the four characteristics common to all small businesses.

What is the most popular type of small business?

According to the text, if you want to start your own business, what is a good way to get ideas about business types?

Small business refers to which of the following?

Edie Lopez is opening a catering business because, as an entrepreneur, she will enjoy which of the following?

The first step in starting your own business is the creation of a unique marketable idea.

The two sources for debt financing are angel investors and venture capitalists.

Many of Canada's financial institutions offer advice on starting, operating, planning, and selling a business.

Political Environment

Economic Environment

Social Environment

Technological Environment

International Environment

Understanding 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

Creating Marketing Strategies

Achieving World-class Operations Management

Accounting for Financial Success

Understanding Money and the Canadian Financial System

Finance

Filters