Question 1

Small retailers who specialize in ethnic products and small service providers who have bi- or multilingual employees will be able to tap the business potential of which of the following demographic segments?

Accepted Answer

A)  Immigrants 
B)  Echo boomers 
C)  Baby boomers 
D)  Generation X 
E)  Generation Y

Question 2

Small business success

Accepted Answer

A)  rarely lasts more than two years. 
B)  is not guaranteed. 
C)  is not really attainable. 
D)  happens only in the United States. 
E)  is a sure thing.

Question 3

The ability to develop a reputation for quality and service is an advantage of a small business.

Accepted Answer

A) True 
 B)False

Question 4

What are intrapreneurs and what role do they play in corporations?

Accepted Answer

The answer of What are intrapreneurs and what role do...

Question 5

What is one thing Jack and Bruce know that a good startup company does not need?

Accepted Answer

A)  Undercapitalization 
B)  A quality product 
C)  A written business plan 
D)  Outside financial support 
E)  A good promotion program

Question 6

Individuals who "champion" the development of innovations of any kind within larger organizations are called

Accepted Answer

A)  disruptors. 
B)  entrepreneurs. 
C)  inventors. 
D)  intrapreneurs. 
E)  engineers.

Question 7

A number of very successful high technology businesses began as small entrepreneurial ventures.

Accepted Answer

A) True 
 B)False

Question 8

Small businesses typically are not vulnerable to turbulence and change in the marketplace.

Accepted Answer

A) True 
 B)False

Question 9

Small business principles cannot be transferred to larger organizations.

Accepted Answer

A) True 
 B)False

Question 10

Since Eva Chang has decided to use her capital to purchase the rights to own and operate a McDonald's fast-food restaurant rather than start her own operation from scratch,she is probably a(n)

Accepted Answer

A)  trade creditor. 
B)  franchisee. 
C)  industrialist. 
D)  franchiser. 
E)  venture capitalist.

Question 11

How important is small business to the U.S.economy?

Accepted Answer

The answer of How important is small business to the...

Question 12

What is undercapitalization,and why would it contribute to the failure of a small business?

Accepted Answer

The answer of What is undercapitalization,and why would it contribute...

Question 13

Downsizing helps firms to become

Accepted Answer

A)  more flexible. 
B)  larger. 
C)  less innovative. 
D)  less resourceful. 
E)  independent.

Question 14

Which of the following is not a source of equity financing?

Accepted Answer

A)  Reinvested profits 
B)  Personal computer 
C)  Personal vehicle 
D)  Loan from a family member 
E)  Venture capitalists

Question 15

In the context of starting a new business,a retailer differs from a manufacturer in that the retailer is less likely to make a heavy investment in

Accepted Answer

A)  equipment and distribution systems. 
B)  space and storage. 
C)  bookkeeping. 
D)  stationery. 
E)  advertising.

Question 16

The shortest path to small-business failure is undercapitalization.

Accepted Answer

A) True 
 B)False

Question 17

The lack of funds to operate a business normally is called

Accepted Answer

A)  discounting. 
B)  creative financing. 
C)  financial pessimism. 
D)  undercapitalization. 
E)  overcapitalization.

Question 18

Millennials number around 75 million and represent a huge business opportunity in the US.Who are they?

Accepted Answer

A)  It is another term for baby boomer 
B)  First generation immigrants 
C)  People born at the turn of the millennium between 1999-2001 
D)  People born between 1977 and 1994 
E)  It is a synonym for Generation X

Question 19

What is a small business?

Accepted Answer

The answer of What is a small business?...

Question 20

Why are minority-owned and women-owned small businesses growing so rapidly in the United States?

Accepted Answer

The answer of Why are minority-owned and women-owned small businesses...

Exam 5: Small Business, entrepreneurship, and Franchising

Small retailers who specialize in ethnic products and small service providers who have bi- or multilingual employees will be able to tap the business potential of which of the following demographic segments?

Small business success

The ability to develop a reputation for quality and service is an advantage of a small business.

What are intrapreneurs and what role do they play in corporations?

What is one thing Jack and Bruce know that a good startup company does not need?

Individuals who "champion" the development of innovations of any kind within larger organizations are called

A number of very successful high technology businesses began as small entrepreneurial ventures.

Small businesses typically are not vulnerable to turbulence and change in the marketplace.

Small business principles cannot be transferred to larger organizations.

Since Eva Chang has decided to use her capital to purchase the rights to own and operate a McDonald's fast-food restaurant rather than start her own operation from scratch,she is probably a(n)

How important is small business to the U.S.economy?

What is undercapitalization,and why would it contribute to the failure of a small business?

Downsizing helps firms to become

Which of the following is not a source of equity financing?

In the context of starting a new business,a retailer differs from a manufacturer in that the retailer is less likely to make a heavy investment in

The shortest path to small-business failure is undercapitalization.

The lack of funds to operate a business normally is called

Millennials number around 75 million and represent a huge business opportunity in the US.Who are they?

What is a small business?

Why are minority-owned and women-owned small businesses growing so rapidly in the United States?