Intro To business #1 Part 1
Which of the following is an advantage of a home-based business?
B) Lower Costs
When a government unit owns and operates an organization, the arrangement is known as ________.
C) Public ownership
Compared to large businesses, which of the following statements regarding small business is correct?
C) Small businesses are more likely to be eligible for government loans or for government put programs
A business plan for a small business typically contains all of the following EXCEPT ____________.
D) A time frame for selling stock to investors
Which of the following is a reason for Krispy Kreme's near failure?
D) Consumers preferred its competitors' products
Owners of small businesses can increase their chances of success if they:
D) Understand their customers
Which of the following is most likely an example of public ownership?
The city sewer system
How do small business contribute to the U.S economy?
A) By creating job opportunities
The largest lenders to small business are ________.
A) Commercial Banks
Serial entrepreneurship involves:
A) Launching and running a business, and then starting and running additional businesses in succession.
Which of the following statements regarding family-owned businesses is true?
A) Only a small percentage of family-owned businesses survive into the second or third generation
Alternatives to private ownership include ________.
A) Public ownership and collective ownership
Syed and Mica come up with an idea for making sugar-free ice cream. They open their own small business to cater to the needs of those who are health conscious. Their products are distributed nationwide and their sales continue to increase Syed and Mica are examples of _______.
B) Classic entrepreneurs
Small-business owners want to determine whether their companies meet the standards for small-business designation because:
B) Government agencies offer benefits designed to help small businesses compete with larger
Many businesses fail during the early years because of _______.
B) Inadequate financing
Traditionally, small businesses tended to be connected in the ___________ industry.
B) Retailing
Mariana wants to start an event management firm with two of her friends. She decides to create a business plan that will help her in securing financing for her firm. Which of the following should she include in the business plan?
C) An introduction that includes the objectives of her business
Almost 90% of U.S. farms are owned by ________
C) Individual farmers
Paul decides to start a trust-run hospital to help the poor get expensive treatments for free. Which of the following is most likely to be true of the hospital?
C) It pays dividends to owners
After starting a web design company while still in college, Ricardo sold the company after graduation. He then opened a computer repair shop; and most recently, he has started a marketing firm that specializes in social media. Ricardo is an example of a(n):
A) Serial entrepreneur