Entrepreneurship final

If standards are not being met a manager may need to

All of these

Inventory control involves

All of these

Many downtown areas have lost businesses to shopping centers due to

All of these

Short term goals can be states in terms of

All of these

Which of the following is an ecample of intellectual property

All of these

Your marketing strategy should address

All of these

emloyee training should

All of these

If u decide to purchase a franchise, you will have to pay

All pf these

The family and Medical leave Act of 1993 requires businesses with more than 50 employees to provide up to 12 weeks unpaid leave if an employee has

All pf these

Small businesses may have difficulty competing with large retailers because large retailers

Are able to keep larger quantities of products in stock

Depreciation is included on a balance sheet to show that some

Assets have value pver time

The management style most appropriate to use with a new group of employees who do not have previous experience in the type of work being performed is

Authoritative management

Who reports to whom in a company is called the

Chain of command

Product characteristics that will satisfy customer needs are called

Featureu

Students who work for little or no pay in order to gain experience in a particular field are

Interns

A reorder point

Is a predetermined level of inventory ghat signals when new stock must be purchased

A business is a sole proprietorship if it

Is owned exclusively by one person

A product mix

Is the different products and servicea that a business sells

The amount of inventory you need can be calculated from the

Sales forecast

A market segment is made up of people who share common characteristics

True

A pure risk presents the chance of loss but no opportunity for gain

True

A scale drawing of your floor plan will help identify potential problem in your lay out

True

A startup business should tie up too much cash inventory

True

An organizational structure is a plan that shows how the various jobs in a company relate to each other

True

Deductions from employee's earnings include federal state and local taxes and contributions for Social Security and Medicare

True

Entrepreneurs are legally required to inform customers of possible dangers of the products that sell

True

Entrepreneurs estimate demand for their products or service by identifying their target market

True

In a partnership , any losses the business incurs will be shared by all of the partners

True

Natural risks are caused by acts of nature

True

Neighborhood shopping centers are often called strip malls

True

Point of sale software updates inventory records as each sale happens

True

Retail stores can distribute their products to consumers by having convenient hours for customers, shipping directly to consumers, and being accessible through the internet

True

Superior service and frequent-buyer programs are strategies you can use to maintain customer loyalty

True

The North American Free Trade Agreement removed most barriers to trade and investment between Mexico, Canada, and the US

True

The break even point is the volume of sales that must be made to cover all of the expenses of a business

True

The goal of social media marketing is to product content that users will share with their social network to help a company reach more customers

True

The people who work for your business are your Human Resources

True

online advertising is a more cost-effective way than traditional advertising mafia for businesses to reach potential customers

True

A copyright lasts

for the life of the author plus 70 years

Before you can approach a lender or investor about financing your business, you must prepare all of the following except

A personal cash flow statement

The asserts, liabilities, and owners equity of a business are shown on a

Balance sheet

A description of the characteristics of the person or company that is likely to purchase a product or service is a

Customer profile

Federal laws concerning clean air and water are enforced by the

Environmental Protection Agency

The fair labor standards act of 1938

Established the maximum number pf hours emloyees can work

A lease in which the landlord pays all property expenses is a

Gross lease

To be successful at selling a product or service, a salesperson must

Have thirough knowledge of the features and benefits pf the product or service

An employment specialist who seeks out highly qualified professionals to fill positions is called

Headhunter

MediumTerm goals describe what you want your business to acheave

In the next two to five years

When buying a business, you should do all of the following except

Inspect a list of all cusyomers

All of the following are characteristics of individuals who have a strong work ethic except

Intelligence

Venture capitalists are individuals or companies that

Make a living by investing in startup companies

For a retail business, inventory consists of

Merchandise to be resold to customers

A lease in which the landlord receives a percentage of the revenue each month in addition to rent is a

Persentage lease

A limit on the amount of a product that can be imported that can be imported into a country over a particular period of time is

Quota

Which of the following recruiting methods has beef shown to garner the highest number of most qualified hires

Referrals

An advantage of buying an existing business is that

Suppliers are lined up

Distribution is an important component of

Supply chaim management

The customers you would most like to attract are referred to as your

Target market

A tax on imports is a

Tariff

If there is a risk that a loss will occur and the amount of the loss cannot be predicted, the risk is

Uninsurable

Unsecured loans are

Usually short-term loans ghat have to be repaid within a year