MGMT 340 Cheek Final

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The one-person-band syndrome is a. failure to delegate. b. effective time management. c. following a competitor's lead. d. an invention.

failure to delegate

The dynamic states approach is a more of a process-oriented view that incorporates an array of the group, the environment, and the organization.

false

The first step in the preparation of the cash-flow budget is the identification and timing of cash outflows

false

The freemium model requires new and exciting content each month to build a long-term relationship with fee-paying customers.

false

The price/earnings ratio is determined by dividing the market price of common stock by retained earnings

false

Vesting on founders' stock refers to holders of preferred stock having the right to purchase additional shares when issued by the company.

false

There are _____ steps for an entrepreneur to consider when creating a structured approach to a market plan.

five

One of the advantages of public offerings is a. product price. c. company's market share. b. company's size. d. size of the company's capital amount.

size of the company's capital amount.

The two parts to a patent application are claims and

specification

Frugality is deemed a bootstrapping technique.

true

Informal risk capitalists are often referred to as business angels.

true

Patents eventually expire.

true

The displacement school of thought focuses on the negative side of group phenomena.

true

Which of the following does a post-money valuation include that a pre-money valuation does not? a. venture capital investment b. replacement value c. market value d. excess earnings

venture capital investment

Which of the following statements about conventional marketing is not true?Select one: a. In terms of risk perspective, conventional marketers seek risk minimization. b. In conventional marketing, marketing is seen as an objective, dispassionate science. c. In conventional marketing, customers are viewed as sources of intelligence and feedback. d. In conventional marketing, the role of a marketer is that of internal and external change agent.

In conventional marketing, the role of a marketer is that of internal and external change agent.

Research on family firms demonstrates which of the following facts? a. Many family firms cease to exist after one month. b. Only 9 out of 10 make it to a second generation. c. Only 16 percent make it to a third generation. d. Only 3 percent make it to the next generation.

Only 16 percent make it to a third generation.

_____ bank loans are made on a discounted value of the receivables pledged.Select one: a. Trade lending b. Convertible stock c. Peer-to-peer d. Accounts receivable financing

d. Accounts receivable financing

The owner of a copyright may do all of the following except

deduct the intrinsic value of the rights from one's taxes.

Which of the following are the two major variables needed to identify specific market segments?

demographic and benefit

Break-even analysis is used to assess a. revenue. b. expected product profitability. c. expected capital expenditures. d. future sales.

expected product profitability

Because of how they are structured, traditional industries such as textiles, furniture manufacturing, and clothing manufacturing commonly use which of the following debt financing sources?a. trade credit b. leasing c. factoring d. investing

factoring

A consumer-driven marketing philosophy often relies on direct selling.

false

A marketing information system compiles and organizes data according to a customer's sex, age, and geographic location.

false

Business owners normally prefer Chapter 7 bankruptcy over any other form of bankruptcy.

false

Chapter 13 bankruptcy involves a reorganization of the enterprise.

false

Chapter 7, Chapter 9, and Chapter 11 are the most common forms of bankruptcy.

false

Public offering is a term used to refer to corporations taking public donations to raise capital.

false

In handling questionable costs, the cost in question is substituted first as a _____ cost and then as a _____ cost. a. variable; total b. fixed; variable c. mixed; fixed d. total; fixed

fixed;variable

A trademark may be invalidated in all of the following ways except

generic words

Which of the following pricing models is not indicative of pricing in the social media age? a. subscription model b. growth stage model c. freemium model d. affiliate model

growth stage model

Venture capital in the United States has been highest in which of the following? a. data mining b. nanotechnology c. health care d. food services

health care

Which of the following is not one of the eight critical factors that venture capitalists use in the evaluation of new ventures?a. managerial structure b. timing of entry c. lead time d. scope

managerial structure

When considering management, the entrepreneur should be concerned about a. employee benefits. b. pension and profit sharing. c. ownership positions. d. the total number of employees.

ownership positions

Which of the following hidden costs are involved when establishing the value of a firm? a. travel expenses b. personal expenses c. divergent expenses d. insufficient controls and costs

personal expenses

It is important for the entrepreneur to have a harvest strategy segment in a business plan in order to

plan for a liquidity event as an exit strategy.

Under U.S. law, which of the following is the first step in the initial public offering (IPO) process? a. Draft a prospectus. b. Perform a road show. c. Select a financial printer. d. Present the proposal to the board.

present the proposal to the board

Which of the following is the contribution margin approach formula? a. FC = (SP - VC) b. (FC - VC)S - SP c. (SP - VC)S - FC d. SP(FC - VC)S

(SP - VC)S - FC

Research shows that many privately held firms go out of business within _____ year(s).

10

The registration of a trademark has a lifetime of a. 25 years. b. the lifetime of the owner. c. 20 years plus 5-year renewable periods. d. 10 years plus 10-year renewable periods.

10 years plus 10-year renewable periods.

In shaping the ultimate success or failure of a new venture, which of the following statements is most applicable?

A single strategic variable is seldom responsible.

In the context of buying a business, a known commodity may command a higher price for which of the following reasons? a. The value of a founder's stock decreases over time. b. Avoiding start-up costs has value. c. Historical projections have intrinsic value. d. Property values are variable.

Avoiding start-up costs has value

In order to obtain a patent, an application should be filed with the a. Office of Government Publications. b. Patent and Trademark Office of the Department of Commerce. c. Government Accounting Office. d. United States Small Business Association.

Patent and Trademark Office of the Department of Commerce.

The Regulation D exemptions include all of the following excepta. Rule 503-placements of less than $500,000. b. Rule 506-placements in excess of $5 million. c. Rule 505-placements of up to $5 million. d. Rule 504-placements up to $1 million.

Rule 503-placements of less than $500,000.

_____ gives investors some protection against founders selling their interest to a third party. a. Right of first refusal b. A voting right c. A co-sale right d. A registration right

a co-sale right

Which of the followings venture valuation methods is the most effective if the business being valued needs to generate a return greater than investment? a. adjusted tangible assets b. replacement value c. price/earnings d. discounted future earnings

discounted future earnings

The price/earnings ratio is determined by a. dividing the average product price by overall earnings. b. multiplying market price of common stock by earnings per share. c. dividing market price of common stock by earnings per share. d. dividing market price of bonds by earnings per share.

dividing market price of common stock by earnings per share.

When calculating the total amount needed to buy a business venture, which of the following would not be included? a. employee retention b. new inventory c. three months' operating expenses d. professional services

employee retention

Financing includes all of the following except a. the owner's money. b. seed capital. c. equitable payback. d. angels

equitable payback

Which of the following is not a distinct form of tolerance for failure? a. uncontrollable failure b. moral failure c. personal failure d. experimental failure

experimental failure

Copyrights have to be registered with the Copyright Office.

false

Effective marketing is based on three key elements: marketing philosophy, market segmentation, and consumer philosophy.

false

Emotional bias is not an underlying issue in valuing a business.

false

In the marketing shift from the 4Ps to the 4Cs, price shifts to choice and promotion shifts to communities.

false

Sales-to-assets measures the efficiency of total assets in generating net profit: the number of dollars in net profit produced for every $1 invested in net assets.

false

Capital budgeting is designed to show a. which project is most profitable. b. how to evaluate projects based on rates of return. c. how many projects, in total, should be selected. d. which of several mutually exclusive projects should be selected.

how many projects, in total, should be selected.

Which of the following is not associated with entrepreneurial tactics in market research? a. guerrilla marketing b. lead user research c. blog monitoring d. in-person interviews

in-person interviews

From an entrepreneur's standpoint, financial statement analysis is useful because it a. is helpful in creating the R&D budget. b. only displays a series of various ratios. c. is a way to anticipate conditions. d. is good for predicting the future.

is a way to anticipate conditions

An infringement budget deals with a. claims. b. advertising expenditures. c. legal battles. d. government bribes.

legal battles

Which of the following can provide a structure that facilitates investments in socially beneficial, for-profit ventures?

low-profit, limited liability company (L3C)

Under design-centered entrepreneurship, moving from one particular action stage back to a previous stage for further development is a _____ methodology.

macroiterations

The main objective of Regulation D is to a. reduce debt financing by small enterprises. b. make it easier and less expensive for small ventures to sell stock. c. regulate new small-business investment. d. increase investment in private placement.

make it easier and less expensive for small ventures to sell stock.

When comparing and contrasting major competitors along core competitive dimensions, you should include a. employees, suppliers, and competitors. b. product, technology, and distribution. c. profits, price, and product. d. profits, sales, and operating ratios.

product, technology, and distribution

A patent infringer can be liable for all _____ resulting from the infringement as well as for legal fees.

profits

Which of the following management principles emanated from Steve Jobs? a. Sell products, not dreams. b. Say yes to 1,000 things. c. Put a dent in the universe d. Strive to reach practical milestones.

put a dent in the universe

Which of the following is not a key factor affecting a marketing information system? a. usefulness or understandability of data b. data relevancy c. size of the system d. system cost

size of the system

Which of the following is not a major trend that has occurred in venture capital over the last few years?a. stronger small start-up investments b. more innovation c. more specialized funding d. emerging syndicated deals

stronger small start-up investments

For the author of creative material to obtain a copyright, the material must be in _____ form. a. tangible b. commercial c. technical d. nontangible

tangible

Which of the following does not represent a category of angel investors?a. entrepreneurial angels b. corporate angels c. technology angels d. micromanagement angels

technology angels

Goodwill, patents, deferred financing costs, and other intangible assets are considered when computing a. capitalized earnings. b. the fixed price value. c. the adjusted tangible book value. d. inventory value.

the adjusted tangible book value

Which of the following is not an underlying issue when determining proper valuation of the venture set to be acquired? a. the amount of risk involved in an acquisition b. the reasons for the acquisition c. the differing goals of a buyer and seller d. the emotional bias of the seller

the amount of risk involved in an acquisition

The second section of a business plan is a. the summary. b. a statement of purpose and goals. c. a statement of financing goals. d. the business description

the business description

A financial source that reads a business plan derives which of the following beneficial information?

the venture's ability to service debt or provide an adequate return on equity

Which of the following would be most commonly used for short-term financing?a. leasing companies b. trade credit c. insurance companies d. finance companies

trade credit

Innovation has become more global and is no longer the exclusive domain of Silicon Valley and Route 128 in Boston.

true

Sources of debt financing include trade credit, accounts receivable financing, factoring, and finance companies

true

Which of the following is not one of the most common questions typically required to be answered by entrepreneurs seeking funding?Select one: a. What do you plan to do with the money? b. What exact date will you repay the money? c. How much money do you need? d. When do you need the money?

What exact date will you repay the money?

The recommended length of a business plan is a. 10 pages, at the maximum. b. no more than 150 pages. c. about 100 pages. d. about 25 pages.

about 25 pages

Patents that are not design patents have _____ years of protection.

20

The average life expectancy of a privately held business is _____ years.

24

According to the U.S. Patent and Trademark Office, the process of obtaining a patent takes about _____ years. a. 2 b. 4 c. 6 d. 3

3

According to Forbes, the net worth of the richest _____ Americans was $2.29 trillion ($5.73 billion per person). a. 5,000 b. 100 c. 400 d. 1,000

400

Closely held ventures usually suffer from which of the following shortcomings? a. a lack of management depth b. overcapitalization c. insufficient controls d. internal conflict

a lack of management depth

More established ventures will use a sales forecast model where the estimation of current sales will increase a certain percentage over the prior period's sales. This percentage is based upon Select one: a. an inventory analysis. b. newly established sales only. c. past experience. d. a trend line analysis.

a trend line analysis

Which of the following was a significant contributor to job growth, with the creation of 263,950 new jobs in the United States in 2016?a. crowdfunding b. angel investments c. venture capital d. factoring

angel investments

Investments in which returns are expected to extend beyond one year are referred to asSelect one: a. capital investments. = b. stocks. c. mutual funds. d. bonds.

capital investments

The part of a patent application that defines and limits the patented invention is known as the a. claim. b. illustration. c. concept. d. specification.

claim

The adjusted tangible book value includes all of the following except a. patents. b. goodwill. c. deferred financing costs. d. common price.

common price

Which of the following is a type of equity financing?a. loan with warrants b. convertible debentures c. common stock d. loan without warrants

common stock

The net present value method is a capital budgeting technique that helps to minimize some of the shortcomings of the payback method by a. recognizing future cash flows beyond the payback period. b. recognizing past cash flows of projects. c. recognizing the payback dollars over again. d. discounting all future projects.

recognizing future cash flows beyond the payback period.

Advantages of debt financing include all of the following excepta. regular interest payments. b. no relinquishment of ownership. c. potential greater return on equity. d. low interest rates that justify the opportunity cost.

regular interest payments

The textbook discusses all of the following aspects that distinguish social media marketing from traditional marketing except a. relevancy. b. two-way communication. c. control versus contributions. d. trust building.

relevancy

Which of the following is not used in balance sheet ratios? a. current assets b. sales c. current liabilities d. cash

sales

Which of the following steps should be carried out second when deciding to sell a business? a. Segregate the assets. b. Publicize the offer to sell. c. Value the business. d. Finalize the prospective buyers.

segregate the assets

A harvest plan defines when and how owners and investors will realize an actual cash return on their investment

t

Promotion links to which of the 4Cs of marketing?a. communities b. cost c. convenience d. collaboration

communities

The rate used to adjust future cash flows to determine their value in present period terms is theSelect one: a. current interest rate. b. rate determined by the ratio of assets to liabilities. c. present value. d. cost of capital

cost of capital

The textbook recommends that social media marketers consider which of the following three aspects of social media when using those tools for marketing purposes? a. resource management, context, and content b. cost, complexity, and relevancy c. creating, enabling, and encouraging d. control, contribution, and distribution

creating, enabling, and encouraging

In the initial public offering (IPO) process, which of the following discloses all of the company's pertinent information and presents a fair representation of the firm's true prospects? a. proposal b. audits c. prospectus d. underwriting arrangement

prospectus

The Lean Start-Up methodology is hypothesis-driven.

true

The average size of social loans is around $17,000.

true


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