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