Question 1

What does the hopeful entrepreneur do once he or she has finished the business plan?

Accepted Answer

The answer of What does the hopeful entrepreneur do once...

Question 2

How are baby boomers expected to affect the economy in the future?

Accepted Answer

A)  They will have no noticeable effect. 
B)  They will spend money to make their lives more comfortable. 
C)  They will create a drag on the economy. 
D)  They will spend less and contribute to an economic decline. 
A)  They will have no noticeable effect. 
B)  They will spend money to make their lives more comfortable. 
C)  They will create a drag on the economy. 
D)  They will spend less and contribute to an economic decline.

Question 3

Jeff Arnold and Reggie Bradford created WebMD, an Internet provider of health care information. Early in the development of this high-growth company, Arnold and Bradford attracted a group of investors who provided them with money needed to acquire other Internet companies with similar missions. What is the investment group called?

Accepted Answer

A)  angel investors 
B)  entrepreneurial capitalists 
C)  equity entrepreneurs 
D)  investment counsellors 
A)  angel investors 
B)  entrepreneurial capitalists 
C)  equity entrepreneurs 
D)  investment counsellors

Question 4

When buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be an inappropriate question to ask?

Accepted Answer

A)  Why are you selling? 
B)  Are there any problems with the business? 
C)  Is the business operating at a profit? 
D)  What are you going to do with the down payment? 
A)  Why are you selling? 
B)  Are there any problems with the business? 
C)  Is the business operating at a profit? 
D)  What are you going to do with the down payment?

Question 5

One way for the owner of a small business to keep in touch with all aspects of the business is to have a solid business plan.

Accepted Answer

A) True 
 B)False

Question 6

According to Industry Canada small businesses employ what percentage of the workforce?

Accepted Answer

A)  33 
B)  40 
C)  48 
D)  61 
A)  33 
B)  40 
C)  48 
D)  61

Question 7

Which of the following two forms of business financing describe borrowed funds and ownership funds, respectively?

Accepted Answer

A)  debt; equity 
B)  credit; leverage 
C)  equity; debt 
D)  equity; leverage 
A)  debt; equity 
B)  credit; leverage 
C)  equity; debt 
D)  equity; leverage

Question 8

What does the Business Development Bank of Canada offer?

Accepted Answer

A)  the elimination of sales and employee taxation for the first three years of operation 
B)  employee recruiting, hiring, and firing 
C)  bank loans 
D)  entrepreneurial ideas 
A)  the elimination of sales and employee taxation for the first three years of operation 
B)  employee recruiting, hiring, and firing 
C)  bank loans 
D)  entrepreneurial ideas

Question 9

Which of the following best describes venture capital?

Accepted Answer

A)  It includes all the money the owner of the business invests in his or her new enterprise. 
B)  It is financing obtained from investment companies that specialize in financing small, high-growth companies. 
C)  It is another name for the principal that a business borrows from a bank. 
D)  It is borrowed money invested in start-up businesses and provided by the Business Development Bank of Canada. 
A)  It includes all the money the owner of the business invests in his or her new enterprise. 
B)  It is financing obtained from investment companies that specialize in financing small, high-growth companies. 
C)  It is another name for the principal that a business borrows from a bank. 
D)  It is borrowed money invested in start-up businesses and provided by the Business Development Bank of Canada.

Question 10

What are the two types of financing available to entrepreneurs?

Accepted Answer

equity and

Question 11

Entrepreneurs are less likely to accept the status quo and generally take a longer-term view than small-business owners.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following are entrepreneurs who start a series of companies?

Accepted Answer

A)  multiventurists 
B)  multifaceted venturists 
C)  multipreneurs 
D)  intrapreneurs 
A)  multiventurists 
B)  multifaceted venturists 
C)  multipreneurs 
D)  intrapreneurs

Question 13

Which of the following is at the core of most business failures?

Accepted Answer

A)  too much inventory 
B)  poor cash flow 
C)  low interest rate 
D)  inadequate planning 
A)  too much inventory 
B)  poor cash flow 
C)  low interest rate 
D)  inadequate planning

Question 14

List the three categories of entrepreneurs.

Accepted Answer

classic entrepreneur

Question 15

In buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be the most appropriate question to ask?

Accepted Answer

A)  How are you going to use the money you receive for the business? 
B)  Are any of the employees creating problems? 
C)  Who loaned you the initial investment? 
D)  Are there any problems with the business? 
A)  How are you going to use the money you receive for the business? 
B)  Are any of the employees creating problems? 
C)  Who loaned you the initial investment? 
D)  Are there any problems with the business?

Question 16

Which of the following describes the trend in entrepreneurship in recent years?

Accepted Answer

A)  The number of people starting businesses has remained the same. 
B)  The number of people starting businesses has increased. 
C)  The number of people starting businesses has slowed. 
D)  The number of people starting businesses has decreased. 
A)  The number of people starting businesses has remained the same. 
B)  The number of people starting businesses has increased. 
C)  The number of people starting businesses has slowed. 
D)  The number of people starting businesses has decreased.

Question 17

List reasons that small businesses thrive in Canada.

Accepted Answer

(1) Independence and the opportunity for

Question 18

Which of the following is a one-to-three page summary of the business plan?

Accepted Answer

A)  executive summary 
B)  corporate summary 
C)  shareholders summary 
D)  directors summary 
A)  executive summary 
B)  corporate summary 
C)  shareholders summary 
D)  directors summary

Question 19

How are export management companies characterized?

Accepted Answer

A)  They handle all aspects of exporting, for a percentage fee of the business. 
B)  They form joint ventures with small exporting businesses. 
C)  They work on flat fees per month. 
D)  They do only consulting work. 
A)  They handle all aspects of exporting, for a percentage fee of the business. 
B)  They form joint ventures with small exporting businesses. 
C)  They work on flat fees per month. 
D)  They do only consulting work.

Question 20

Which of the following is NOT a common cause of most business failures?

Accepted Answer

A)  economic factors 
B)  financial causes 
C)  personnel problems 
D)  owner's lack of experience 
A)  economic factors 
B)  financial causes 
C)  personnel problems 
D)  owner's lack of experience

What does the hopeful entrepreneur do once he or she has finished the business plan?

How are baby boomers expected to affect the economy in the future?

When buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be an inappropriate question to ask?

One way for the owner of a small business to keep in touch with all aspects of the business is to have a solid business plan.

According to Industry Canada small businesses employ what percentage of the workforce?

Which of the following two forms of business financing describe borrowed funds and ownership funds, respectively?

What does the Business Development Bank of Canada offer?

Which of the following best describes venture capital?

What are the two types of financing available to entrepreneurs?

Entrepreneurs are less likely to accept the status quo and generally take a longer-term view than small-business owners.

Which of the following are entrepreneurs who start a series of companies?

Which of the following is at the core of most business failures?

List the three categories of entrepreneurs.

In buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be the most appropriate question to ask?

Which of the following describes the trend in entrepreneurship in recent years?

List reasons that small businesses thrive in Canada.

Which of the following is a one-to-three page summary of the business plan?

How are export management companies characterized?

Which of the following is NOT a common cause of most business failures?

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 does the hopeful entrepreneur do once he or she has finished the business plan?

How are baby boomers expected to affect the economy in the future?

When buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be an inappropriate question to ask?

One way for the owner of a small business to keep in touch with all aspects of the business is to have a solid business plan.

According to Industry Canada small businesses employ what percentage of the workforce?

Which of the following two forms of business financing describe borrowed funds and ownership funds, respectively?

What does the Business Development Bank of Canada offer?

Which of the following best describes venture capital?

What are the two types of financing available to entrepreneurs?

Entrepreneurs are less likely to accept the status quo and generally take a longer-term view than small-business owners.

Which of the following are entrepreneurs who start a series of companies?

Which of the following is at the core of most business failures?

List the three categories of entrepreneurs.

In buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be the most appropriate question to ask?

Which of the following describes the trend in entrepreneurship in recent years?

List reasons that small businesses thrive in Canada.

Which of the following is a one-to-three page summary of the business plan?

How are export management companies characterized?

Which of the following is NOT a common cause of most business failures?

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