Question 1

The Business Development Bank of Canada (BDC) assists small businesses by providing advice in management and financial matters.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is a characteristic of small businesses?

Accepted Answer

A)  Small businesses pay very little tax. 
B)  Small businesses are owned by an individual or small group. 
C)  Small businesses are very influential in their industries. 
D)  Small businesses can be based nationally. 
A)  Small businesses pay very little tax. 
B)  Small businesses are owned by an individual or small group. 
C)  Small businesses are very influential in their industries. 
D)  Small businesses can be based nationally.

Question 3

Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

The text lists the following f

Question 5

What is the first step in starting one's 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 6

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 7

Which of the following is a disadvantage associated with the ownership of a small business?

Accepted Answer

A)  harder to obtain financing 
B)  difficult to hire good employees 
C)  more laws to obey 
D)  complex tax codes 
A)  harder to obtain financing 
B)  difficult to hire good employees 
C)  more laws to obey 
D)  complex tax codes

Question 8

What are the two leading reasons that women start their own companies?

Accepted Answer

the inspiration of t

Question 9

Once Keeler Monroe had decided he wanted to quit working as a tax preparer and go into some kind of business for himself, he did a self-assessment. What will be his next step?

Accepted Answer

A)  to create a business plan 
B)  to determine where the funding will come from 
C)  to find the idea for his business 
D)  to look for customers 
A)  to create a business plan 
B)  to determine where the funding will come from 
C)  to find the idea for his business 
D)  to look for customers

Question 10

Entrepreneurs start a business with the hope that they will be compensated with profits for their investment of time, expertise, and money.

Accepted Answer

A) True 
 B)False

Question 11

David Dworkin is the founder and owner of Swoozie's, a chain of stores that carry diverse lines of wrapping paper, stationery, invitations, and gifts for affluent women. He opened the business with his own money and that of investors who saw profit potential in his idea. Dworkin is an example of which of the following?

Accepted Answer

A)  franchisor 
B)  venture capitalist 
C)  franchisee 
D)  entrepreneur 
A)  franchisor 
B)  venture capitalist 
C)  franchisee 
D)  entrepreneur

Question 12

Because large businesses are more efficient than small ones, they can keep total costs down and make larger profits.

Accepted Answer

A) True 
 B)False

Question 13

List the three most common causes for business failure.

Accepted Answer

economic factors, fi

Question 14

The first step in starting your own business is to do a self-assessment.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following best describes the activity of an entrepreneur?

Accepted Answer

A)  financing the business 
B)  locating the business 
C)  managing the business 
D)  owning and operating the business 
A)  financing the business 
B)  locating the business 
C)  managing the business 
D)  owning and operating the business

Question 16

About 80 percent of executives got their ideas for their businesses from working in which of the following?

Accepted Answer

A)  another small business 
B)  a part-time job 
C)  a brand new start-up 
D)  the same or a related industry 
A)  another small business 
B)  a part-time job 
C)  a brand new start-up 
D)  the same or a related industry

Question 17

Businesspeople who apply their creativity, vision, and passion within a business rather than starting their own are called intrapreneurs.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is a disadvantage associated with the ownership of a small business?

Accepted Answer

A)  easier fundraising 
B)  unlimited management skill 
C)  fewer government regulations 
D)  extreme personal commitment 
A)  easier fundraising 
B)  unlimited management skill 
C)  fewer government regulations 
D)  extreme personal commitment

Question 19

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

Accepted Answer

A)  wanting to be rich and powerful 
B)  to impress friends and family 
C)  control one's own destiny 
D)  dissatisfaction with one's current job 
A)  wanting to be rich and powerful 
B)  to impress friends and family 
C)  control one's own destiny 
D)  dissatisfaction with one's current job

Question 20

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

The Business Development Bank of Canada (BDC) assists small businesses by providing advice in management and financial matters.

Which of the following is a characteristic of small businesses?

Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

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

What is the first step in starting one's own business?

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

Which of the following is a disadvantage associated with the ownership of a small business?

What are the two leading reasons that women start their own companies?

Once Keeler Monroe had decided he wanted to quit working as a tax preparer and go into some kind of business for himself, he did a self-assessment. What will be his next step?

Entrepreneurs start a business with the hope that they will be compensated with profits for their investment of time, expertise, and money.

Because large businesses are more efficient than small ones, they can keep total costs down and make larger profits.

List the three most common causes for business failure.

The first step in starting your own business is to do a self-assessment.

Which of the following best describes the activity of an entrepreneur?

About 80 percent of executives got their ideas for their businesses from working in which of the following?

Businesspeople who apply their creativity, vision, and passion within a business rather than starting their own are called intrapreneurs.

Which of the following is a disadvantage associated with the ownership of a small business?

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

Which of the following best describes a business plan?

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

The Business Development Bank of Canada (BDC) assists small businesses by providing advice in management and financial matters.

Which of the following is a characteristic of small businesses?

Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

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

What is the first step in starting one's own business?

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

Which of the following is a disadvantage associated with the ownership of a small business?

What are the two leading reasons that women start their own companies?

Once Keeler Monroe had decided he wanted to quit working as a tax preparer and go into some kind of business for himself, he did a self-assessment. What will be his next step?

Entrepreneurs start a business with the hope that they will be compensated with profits for their investment of time, expertise, and money.

Because large businesses are more efficient than small ones, they can keep total costs down and make larger profits.

List the three most common causes for business failure.

The first step in starting your own business is to do a self-assessment.

Which of the following best describes the activity of an entrepreneur?

About 80 percent of executives got their ideas for their businesses from working in which of the following?

Businesspeople who apply their creativity, vision, and passion within a business rather than starting their own are called intrapreneurs.

Which of the following is a disadvantage associated with the ownership of a small business?

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

Which of the following best describes a business plan?

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