ENT 396 Final Review

Which of the following can help speed up the idea process?

taking breaks while working

One of the easiest capital budgeting methods to understand is

the payback method

In the production budget for a manufacturing firm, the number of units needed in inventory is determined by

the sum of the desired ending inventory and the number of units to be sold

20. The "corridor principle" is best described by which of the following statements? a. If at first you don't succeed, try, try, again. b. Being in the right place at the right time. c. With every new venture launched, new and unintended opportunities arise. d. Luck happens when preparation meets opportunity.

C

The Executive Summary should be the first part of the business plan that is written.

False

The pro forma balance sheet is used in the critical risk segment of the business plan.

False

It is reported that ________ new firms have emerged in the United States every year since 2010 a. 400,000 b. 100,000 c. 22,000 d. 230,000

a. 400,000

A(n) _______ approach indicated the importance of people's awareness of their daily lives for developing new business ideas. a. new-new b. old-old c. old-new d. new-old

a. new-new

Entrepreneurial persistence is related to

avoiding counter influences to entrepreneurship

19. Throughout the years, many myths have arisen about entrepreneurship as a result of? a. a lack of research about entrepreneurship b. a lack of interest in the field c. a total disregard for the truth d. a destructive attitude by government

A

6. Which of the following statements best describes a "gazelle?" a. a business with at least 20 percent growth every year b. a business with no sales growth c. a business that has acquired numerous firms d. an inventor who turned business person

A

How does death affect the duration of a corporation

A corporation is unaffected by the death of a shareholder

What if the significance of a harvest strategy segment in a business plan?

It is important for the entrepreneur to plan for a liquidity event as an exit strategy.

Which of the following economists wrote about entrepreneurship and its impact on economic development?

Joseph Schumpeter

Which of the following terms would not be associated with the right hemisphere of the brain? a. synthesizing b. linear c. spatial d. intuitive

Liner

In the lean start-up context, the acronym MVP stands for:

Minimum viable product

The Regulation D exemptions include all of the following except

Rule 503 - placements of less than $500,000

To avoid the pitfall of "no market niche" (segment), do what?

clearly target a niche

The rate used to adjust future cash flows to determine their value in present period terms is the:

cost of capital

The cash flow does not come from

goods purchased on account