Question 1

According to the Making the Green Connection box,locavores are people who choose to eat only food grown within their local communities.

Accepted Answer

A) True 
 B)False

Question 2

Most entrepreneurs are more interested in personal achievement than in power.

Accepted Answer

A) True 
 B)False

Question 3

Because of the stress of being in business for yourself,it's important that entrepreneurs have people around them to help replenish their enthusiasm.

Accepted Answer

A) True 
 B)False

Question 4

A National Business Incubator Association study indicates that over 80 percent of incubator graduates remain in business.

Accepted Answer

A) True 
 B)False

Question 5

One reason why many U.S.small businesses are not involved in exporting is:

Accepted Answer

A)   there is a limited market for their products.
B)   the government's new homeland security programs limit opportunities for small businesses.
C)   many of these firms do not know how to get started.
D)   U.S.products are perceived as inferior.E) All of the above
F) A) and B)

Question 6

Bankers and investors require entrepreneurs to present a well-conceived business plan.

Accepted Answer

A) True 
 B)False

Question 7

Historically entrepreneurs in the U.S.

Accepted Answer

A)   created wealth for themselves,but have had a minor impact on the economy as a whole.
B)   started many small firms that later became major corporations employing thousands of workers.
C)   experienced success only when they worked in partnership with the federal government.
D)   played an important role,but are less important now in creating jobs and wealth.E) All of the above
F) B) and D)

Question 8

Due in part to government support,the majority of U.S.small businesses are involved in exporting.

Accepted Answer

A) True 
 B)False

Question 9

The small business sector that has the best chance of significant growth is legal services.

Accepted Answer

A) True 
 B)False

Question 10

The Small Business Administration sponsors volunteers from industry,trade associations,and education who offer advice to small business owners.These volunteers are called:

Accepted Answer

A)   the Small Business Council of Volunteers.
B)   Partners in Service and Economic Progress.
C)   Small Business Counselors Incorporated.
D)   the Service Corps of Retired Executives.E) B) and D)
F) A) and B)

Question 11

Small businesses can often provide more personalized customer service than bigger rivals.

Accepted Answer

A) True 
 B)False

Question 12

A business is considered small by comparing its size to others in the same industry.

Accepted Answer

A) True 
 B)False

Question 13

Many micropreneurs are home-based business owners.

Accepted Answer

A) True 
 B)False

Question 14

Micropreneurs are exempt from the local ordinances that restrict home-based businesses from operating in residential areas.

Accepted Answer

A) True 
 B)False

Question 15

With fewer employees and less revenue,small businesses have less need for detailed records than do larger business organizations.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following sources of investment is the least likely type available to entrepreneurs?

Accepted Answer

A)   Angel investors
B)   Small Business Administration loans
C)   Venture capitalists
D)   Family and friendsE) None of the above
F) A) and D)

Question 17

Increased participation in small business exporting owes credit to ________.

Accepted Answer

A)   political constituents who have made in-roads abroad
B)   large events such as the Olympics that have brought attention to the potential in world markets
C)   technological advances such as the Internet and PayPal for safely fulfilling orders
D)   partnerships that small businesses have formed with large businessesE) A) and B)
F) A) and D)

Question 18

Carlos hopes to start his own business.He needs to avoid talking to other small business owners about his plans because they might steal his ideas.

Accepted Answer

A) True 
 B)False

Question 19

Compared to employees of large businesses,small business employees are less satisfied with their work because they see their jobs as less challenging.

Accepted Answer

A) True 
 B)False

Question 20

If you plan to meet face-to-face with a banker or venture capitalist,it is not necessary to submit a business plan.

Accepted Answer

A) True 
 B)False

Exam 6: Entrepreneurship and Starting a Small Business

Small businesses can often provide more personalized customer service than bigger rivals.

Correct AnswerverifiedShow Answer

With fewer employees and less revenue,small businesses have less need for detailed records than do larger business organizations.

Correct AnswerverifiedShow Answer

Many micropreneurs are home-based business owners.

Correct AnswerverifiedShow Answer

Bankers and investors require entrepreneurs to present a well-conceived business plan.

Correct AnswerverifiedShow Answer

Increased participation in small business exporting owes credit to ________.

Correct AnswerverifiedShow Answer

Compared to employees of large businesses,small business employees are less satisfied with their work because they see their jobs as less challenging.

Correct AnswerverifiedShow Answer

Due in part to government support,the majority of U.S.small businesses are involved in exporting.

Correct AnswerverifiedShow Answer

A business is considered small by comparing its size to others in the same industry.

Correct AnswerverifiedShow Answer

If you plan to meet face-to-face with a banker or venture capitalist,it is not necessary to submit a business plan.

Correct AnswerverifiedShow Answer

According to the Making the Green Connection box,locavores are people who choose to eat only food grown within their local communities.

Correct AnswerverifiedShow Answer

A National Business Incubator Association study indicates that over 80 percent of incubator graduates remain in business.

Correct AnswerverifiedShow Answer

Because of the stress of being in business for yourself,it's important that entrepreneurs have people around them to help replenish their enthusiasm.

Correct AnswerverifiedShow Answer

Micropreneurs are exempt from the local ordinances that restrict home-based businesses from operating in residential areas.

Correct AnswerverifiedShow Answer

One reason why many U.S.small businesses are not involved in exporting is:

Correct AnswerverifiedShow Answer

The small business sector that has the best chance of significant growth is legal services.

Correct AnswerverifiedShow Answer

Most entrepreneurs are more interested in personal achievement than in power.

Correct AnswerverifiedShow Answer

Carlos hopes to start his own business.He needs to avoid talking to other small business owners about his plans because they might steal his ideas.

Correct AnswerverifiedShow Answer

Which of the following sources of investment is the least likely type available to entrepreneurs?

Correct AnswerverifiedShow Answer

Historically entrepreneurs in the U.S.

Correct AnswerverifiedShow Answer

The Small Business Administration sponsors volunteers from industry,trade associations,and education who offer advice to small business owners.These volunteers are called:

Correct AnswerverifiedShow Answer

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