Question 1

Entrepreneurs generally begin with a vision.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Accepted Answer

A)  Stagnating wages 
B)  Steady interest rates 
C)  Aging population 
D)  Increase in wages 
A)  Stagnating wages 
B)  Steady interest rates 
C)  Aging population 
D)  Increase in wages

Question 3

Overall, in the United States the current outlook for becoming an entrepreneur is positive.

Accepted Answer

A) True 
 B)False

Question 4

Information technology can help entrepreneurs in all of the following ways EXCEPT:

Accepted Answer

A)  provide improved customer service. 
B)  guarantee financial success. 
C)  work quickly and efficiently. 
D)  increase sales. 
A)  provide improved customer service. 
B)  guarantee financial success. 
C)  work quickly and efficiently. 
D)  increase sales.

Question 5

MATCHING
Complete the following using the terms listed.
-A(n) _____ is a business organization or group of private individuals who invest early-stage, high-potential growth companies.

Accepted Answer

A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)targeted employment area
J)skunkworks
K)Intrapreneurship
L)Internal locus of control 
A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)targeted employment area
J)skunkworks
K)Intrapreneurship
L)Internal locus of control

Question 6

Which of the following is an example of a country with a factor-driven economy?

Accepted Answer

A)  Thailand 
B)  The United States 
C)  Zambia 
D)  The United Kingdom 
A)  Thailand 
B)  The United States 
C)  Zambia 
D)  The United Kingdom

Question 7

_____ percent of large firms allocate funds toward intrapreneurship.

Accepted Answer

A)  Twenty 
B)  Five 
C)  Fifteen 
D)  Thirty 
A)  Twenty 
B)  Five 
C)  Fifteen 
D)  Thirty

Question 8

Which of the following statements best describes how entrepreneurs view failure?

Accepted Answer

A)  They enjoy risk and gambling. 
B)  They are easily discouraged when things don't go as planned.. 
C)  They view failure as a learning experience. 
D)  They worry that if they fail they'll never get another opportunity. 
A)  They enjoy risk and gambling. 
B)  They are easily discouraged when things don't go as planned.. 
C)  They view failure as a learning experience. 
D)  They worry that if they fail they'll never get another opportunity.

Question 9

Which of the following instances best represents a skunkworks project?

Accepted Answer

A)  Fathima obtains funding from a venture capitalist to start her new venture. 
B)  Frank obtains funding from an angel investor who also helps him with launching his business. 
C)  Laila obtains funding from the company she works for to turn her idea into a commercial project. 
D)  Janet obtains funding through bank loans and finance companies that she must repay. 
A)  Fathima obtains funding from a venture capitalist to start her new venture. 
B)  Frank obtains funding from an angel investor who also helps him with launching his business. 
C)  Laila obtains funding from the company she works for to turn her idea into a commercial project. 
D)  Janet obtains funding through bank loans and finance companies that she must repay.

Question 10

MATCHING
Complete the following using the terms listed.
-_____ is the process of promoting innovation within the structure of an existing organization.

Accepted Answer

A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)targeted employment area
J)skunkworks
K)Intrapreneurship
L)Internal locus of control 
A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)targeted employment area
J)skunkworks
K)Intrapreneurship
L)Internal locus of control

Question 11

Bella works as an artist for a major textile company and created an instrument for producing designs. The company will implement Bella's idea as part of its _____ strategy.

Accepted Answer

A)  skunkworks 
B)  angel investment 
C)  seed capital 
D)  entrepreneurship 
A)  skunkworks 
B)  angel investment 
C)  seed capital 
D)  entrepreneurship

Question 12

Gary is in the process of using debt financing to fund his new venture. In this case, he is most likely to:

Accepted Answer

A)  borrow loans from banks. 
B)  obtain funding from venture capitalists. 
C)  secure funding from angel investors. 
D)  exchange a share of ownership in his company for money. 
A)  borrow loans from banks. 
B)  obtain funding from venture capitalists. 
C)  secure funding from angel investors. 
D)  exchange a share of ownership in his company for money.

Question 13

Financial success _____.

Accepted Answer

A)  rarely results from starting a business 
B)  is part of the appeal of becoming an entrepreneur 
C)  plays little role in motivating people to become entrepreneurs 
D)  is virtually guaranteed if people work hard enough starting their own businesses 
A)  rarely results from starting a business 
B)  is part of the appeal of becoming an entrepreneur 
C)  plays little role in motivating people to become entrepreneurs 
D)  is virtually guaranteed if people work hard enough starting their own businesses

Question 14

MATCHING
Complete the following using the terms listed.
-Loans from banks are a source of _____.

Accepted Answer

A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)targeted employment area
J)skunkworks
K)Intrapreneurship
L)Internal locus of control 
A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)targeted employment area
J)skunkworks
K)Intrapreneurship
L)Internal locus of control

Question 15

The Small Business Administration (SBA) recommends avoiding the use of personal credit cards for business expenses.

Accepted Answer

A) True 
 B)False

Question 16

MATCHING
Complete the following using the terms listed.
-A(n) _____ starts a business to gain flexibility in work hours and control over his or her life.

Accepted Answer

A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)targeted employment area
J)skunkworks
K)Intrapreneurship
L)Internal locus of control 
A) Seed capital 
B) angel investor 
C) venture capitalist 
D) debt financing 
E) Information technology
F)social entrepreneur
G)classic entrepreneur
H)lifestyle entrepreneur
I)targeted employment area
J)skunkworks
K)Intrapreneurship
L)Internal locus of control

Question 17

Describe the differences between entrepreneurs and small-business owners and managers.

Accepted Answer

Entrepreneurs seek a profitable opportun

Question 18

Entrepreneurs may also perform a managerial role, but their overriding responsibility is to use the resources of their organizations to accomplish their goals.

Accepted Answer

A) True 
 B)False

Question 19

Buying a franchise offers a less risky way to begin a business than starting an entirely new firm.

Accepted Answer

A) True 
 B)False

Question 20

Zainab is opening her own bakery. Zainab is most likely to be categorized as a(n) ________.

Accepted Answer

A)  manager 
B)  entrepreneur 
C)  angel broker 
D)  venture capitalist 
A)  manager 
B)  entrepreneur 
C)  angel broker 
D)  venture capitalist

Entrepreneurs generally begin with a vision.

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Overall, in the United States the current outlook for becoming an entrepreneur is positive.

Information technology can help entrepreneurs in all of the following ways EXCEPT:

MATCHING Complete the following using the terms listed. -A(n) _____ is a business organization or group of private individuals who invest early-stage, high-potential growth companies.

Which of the following is an example of a country with a factor-driven economy?

_____ percent of large firms allocate funds toward intrapreneurship.

Which of the following statements best describes how entrepreneurs view failure?

Which of the following instances best represents a skunkworks project?

MATCHING Complete the following using the terms listed. -_____ is the process of promoting innovation within the structure of an existing organization.

Bella works as an artist for a major textile company and created an instrument for producing designs. The company will implement Bella's idea as part of its _____ strategy.

Gary is in the process of using debt financing to fund his new venture. In this case, he is most likely to:

Financial success _____.

MATCHING Complete the following using the terms listed. -Loans from banks are a source of _____.

The Small Business Administration (SBA) recommends avoiding the use of personal credit cards for business expenses.

MATCHING Complete the following using the terms listed. -A(n) _____ starts a business to gain flexibility in work hours and control over his or her life.

Describe the differences between entrepreneurs and small-business owners and managers.

Entrepreneurs may also perform a managerial role, but their overriding responsibility is to use the resources of their organizations to accomplish their goals.

Buying a franchise offers a less risky way to begin a business than starting an entirely new firm.

Zainab is opening her own bakery. Zainab is most likely to be categorized as a(n) ________.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 6: Starting Your Own Business: the Entrepreneurship Alternative

Entrepreneurs generally begin with a vision.

Which of the following demographic/economic trends has increased the opportunities for entrepreneurs?

Overall, in the United States the current outlook for becoming an entrepreneur is positive.

Information technology can help entrepreneurs in all of the following ways EXCEPT:

MATCHING Complete the following using the terms listed. -A(n) _____ is a business organization or group of private individuals who invest early-stage, high-potential growth companies.

Which of the following is an example of a country with a factor-driven economy?

_____ percent of large firms allocate funds toward intrapreneurship.

Which of the following statements best describes how entrepreneurs view failure?

Which of the following instances best represents a skunkworks project?

MATCHING Complete the following using the terms listed. -_____ is the process of promoting innovation within the structure of an existing organization.

Bella works as an artist for a major textile company and created an instrument for producing designs. The company will implement Bella's idea as part of its _____ strategy.

Gary is in the process of using debt financing to fund his new venture. In this case, he is most likely to:

Financial success _____.

MATCHING Complete the following using the terms listed. -Loans from banks are a source of _____.

The Small Business Administration (SBA) recommends avoiding the use of personal credit cards for business expenses.

MATCHING Complete the following using the terms listed. -A(n) _____ starts a business to gain flexibility in work hours and control over his or her life.

Describe the differences between entrepreneurs and small-business owners and managers.

Entrepreneurs may also perform a managerial role, but their overriding responsibility is to use the resources of their organizations to accomplish their goals.

Buying a franchise offers a less risky way to begin a business than starting an entirely new firm.

Zainab is opening her own bakery. Zainab is most likely to be categorized as a(n) ________.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters