Question 1

The proprietor is only personally liable for all aspects of the business when gross negligence occurs.

Accepted Answer

A) True 
 B)False

Question 2

The limited partners in a venture share control of day-to-day operations with the general partners.

Accepted Answer

A) True 
 B)False

Question 3

The hiring process is one area of business operation that the entrepreneur should not cut back on to save time.

Accepted Answer

A) True 
 B)False

Question 4

Once the board of advisors have been hired,the entrepreneur should not question their advice.

Accepted Answer

A) True 
 B)False

Question 5

Stockholders in a corporation share day-to-day control of the entrepreneur.

Accepted Answer

A) True 
 B)False

Question 6

A board of directors should not:

Accepted Answer

A) have members with unlimited terms. 
B) have an odd number of members. 
C) be comprised of external advisors. 
D) be compensated with anything other than stock. 
A) have members with unlimited terms. 
B) have an odd number of members. 
C) be comprised of external advisors. 
D) be compensated with anything other than stock.

Question 7

A board of advisors has less decision making authority than a board of directors does.

Accepted Answer

A) True 
 B)False

Question 8

In order for a corporation to be legally formed the owners have to register the name and articles of incorporation and meet statutory requirements.

Accepted Answer

A) True 
 B)False

Question 9

Income from the partnership is taxed twice: once at the business level and once as personal income.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is not one of the main functions of the management team according to text?

Accepted Answer

A) Execute the business plan. 
B) Identify fundamental changes in the business plan as they occur. 
C) Make adjustments based on changes in the environment and market that will maintain profitability. 
D) Help the entrepreneur write the business plan. 
A) Execute the business plan. 
B) Identify fundamental changes in the business plan as they occur. 
C) Make adjustments based on changes in the environment and market that will maintain profitability. 
D) Help the entrepreneur write the business plan.

The proprietor is only personally liable for all aspects of the business when gross negligence occurs.

The limited partners in a venture share control of day-to-day operations with the general partners.

The hiring process is one area of business operation that the entrepreneur should not cut back on to save time.

Once the board of advisors have been hired,the entrepreneur should not question their advice.

Stockholders in a corporation share day-to-day control of the entrepreneur.

A board of directors should not:

A board of advisors has less decision making authority than a board of directors does.

In order for a corporation to be legally formed the owners have to register the name and articles of incorporation and meet statutory requirements.

Income from the partnership is taxed twice: once at the business level and once as personal income.

Which of the following is not one of the main functions of the management team according to text?

Entrepreneurship and the Entrepreneurial Mind-Set

Entrepreneurial Intentions and Corporate Entrepreneurship

Entrepreneurial Strategy: Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Intellectual Property and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters

Exam 9: The Organizational Plan

The proprietor is only personally liable for all aspects of the business when gross negligence occurs.

The limited partners in a venture share control of day-to-day operations with the general partners.

The hiring process is one area of business operation that the entrepreneur should not cut back on to save time.

Once the board of advisors have been hired,the entrepreneur should not question their advice.

Stockholders in a corporation share day-to-day control of the entrepreneur.

A board of directors should not:

A board of advisors has less decision making authority than a board of directors does.

In order for a corporation to be legally formed the owners have to register the name and articles of incorporation and meet statutory requirements.

Income from the partnership is taxed twice: once at the business level and once as personal income.

Which of the following is not one of the main functions of the management team according to text?

Entrepreneurship and the Entrepreneurial Mind-Set

Entrepreneurial Intentions and Corporate Entrepreneurship

Entrepreneurial Strategy: Generating and Exploiting New Entries

Creativity and the Business Idea

Identifying and Analyzing Domestic and International Opportunities

Intellectual Property and Other Legal Issues for the Entrepreneur

The Business Plan: Creating and Starting the Venture

The Marketing Plan

The Financial Plan

Sources of Capital

Informal Risk Capital, Venture Capital, and Going Public

Strategies for Growth and Managing the Implication of Growth

Accessing Resources for Growth From External Sources

Succession Planning and Strategies for Harvesting and Ending the Venture

Filters