Navigation » List of Schools » Saddleback College » Business » Business 1 – Introduction to Business » Spring 2020 » Chapter 6 Quiz
Below are the questions for the exam with the choices of answers:
Question #1
A the Small Business Administration.
B friends and family.
C state and local governments.
D large multinational banks.
Question #2
A Owners will not often listen to ideas suggested by the workers.
B Employee relations are especially poor in small firms.
C Managers in small firms tend to be disrespectful to the workers.
D Many jobs in small firms have low pay and few benefits.
Question #3
A market
B buyer’s cooperative
C consumer cooperative
D consumer collective
Question #4
A He is expected to recruit new managerial talent for his firm.
B He will use the firm’s existing resources to develop new products.
C He will concentrate on creating new ventures that can be spun off to become independent firms.
D He is concerned mainly with improving the firm’s public image.
Question #5
A enterprise zone participant
B micropreneur
C intrapreneur
D small business affiliate
Question #6
A an increase in business risk.
B burdensome tax laws.
C keeping work and family tasks separate.
D managing the extra time on your hands.
Question #7
A agency set up by state governments to provide managerial advice and support to small businesses.
B agency of the federal government that loans money to high-tech firms.
C private investment company that is licensed by the SBA to make loans to small businesses.
D private firm that offers loans to small businesses in return for a share of ownership in the firm.
Question #8
A similar to incubator facilities but strictly run by city and state governments
B blighted areas that contain toxic materials making them unsuitable for business operations.
C government-owned properties that are available for entrepreneurial ventures at a reduced cost.
D specific locations across the U.S. where entrepreneurs can set up shop and receive tax breaks for operating in these areas.
Question #9
A demand that the money be repaid within 90 days or less.
B charge an interest rate that is much higher than any other lender.
C not be interested in the management of the business.
D expect an ownership stake in the company in exchange for financial backing.
Question #10
A the plan will meet federal reporting requirements of the Internal Revenue Service.
B the plan will protect DeMarcus from failure.
C the plan enables DeMarcus to think carefully about all aspects of his business idea.
D the plan ensures financing will be available from the Small Business Administration.
Question #11
A create a partnership contract.
B develop a business plan.
C read a book on entrepreneurship.
D hire a public relations firm to develop promotional materials.
Question #12
A they develop mental games to see themselves through the risk game, especially.
B they always protect themselves from failure by taking out lots of insurance.
C they strive to take calculated risks.
D they seldom start another business after a failure.
Question #13
A political constituents who have made inroads abroad.
B technological advances such as the Internet and PayPal for safely fulfilling orders.
C partnerships that small businesses have formed with large businesses.
D large events such as the Olympics that have brought attention to the potential in world markets.
Question #14
A restaurant industry offers the least risk for entrepreneurs.
B businesses that are easiest to start offer the greatest potential for long-term growth and profits.
C businesses with the potential for high profit levels tend to be difficult to start and hard to keep going.
D reason the service sector is rapidly growing is that these firms are easy to start and keep going, and offer high levels of security and growth potential.
Question #15
A some of the easiest businesses to start have the least growth prospects and greatest failure rates.
B borrowing money without planning just how and when to pay it back.
C carrying habits of personal extravagance into the business
D underestimating how much time it will take to build a market.
Question #16
A import/export information
B names of employees
C an analysis of the competition
D names of banks the owner plans to visit
Question #17
A concern themselves with state-of-the-art information and accounting technology but not employee relations due to their challenge to financially support employee benefits programs.
B deal with very different management issues due to the very different management challenges experienced by small businesses.
C do not seek government funding due to the fact that the federal government has made it very clear that it must support large operations before small operations.
D deal with similar management issues that large companies face.
Question #18
A They have the ability to visualize a clear path.
B They look at problems and see opportunities.
C They like certainty.
D They prefer to be inventive rather than worry about whether the invention solves a customer need.
Question #19
A managerial task force
B joint venture
C entrepreneurial team
D self-directed functional team
Question #20
A one firm must dominate in sales and product development.
B the business requires wholesalers and retailers.
C people must have unsatisfied wants and needs as well as a willingness and ability to buy.
D the product must be laboratory tested and approved by the Food and Drug Administration (FDA).