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Entrepreneurship and Small Business Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Which of the the following is not a component of marketing for a small business?

Question 2 2. Which one of the following is not a typical characteristic of an entrepreneur?

Question 3 3. What is the best explanation of a microenterprise?

Question 4 4. What type of accounting method recognizes income when earned and expenses when incurred?

Question 5 5. What financial statement shows business assets and liabilities?

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Question 6 6. A group of people that help spread out the risk of the new venture and also bring in different talents and skill sets to it:

Question 7 7. Which one of the following is the best explanation of an entrepreneur?

Question 8 8. How does the global market work?

Question 9 9. What is the biggest advantage big business has over small business in the global marketplace?

Question 10 10. The willingness of an entrepreneur to work for herself and use her own money knowing there's a chance that she will lose it all demonstrates what type of characteristic?

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Question 11 11. How many employees can manufacturing companies have and still be considered a small business in the United States?

Question 12 12. Small businesses can leverage to enable it to accomplish many of the same things as a bigger business.

Question 13 13. What method of financing is available to small business owners?

Question 14 14. Which one of the following is not an important person to which an entrepreneur must engage in communication?

Question 15 15. Name a well-known entrepreneur:

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Question 16 16. Small businesses can have of employees and in revenue and still be considered small.

Question 17 17. Which of the following is true about a small business in the global marketplace?

Question 18 18. What is outsourcing?

Question 19 19. What is the typical way a small business is funded?

Question 20 20. You can think of risk-taking as pursuing an activity even if there is a chance of a consequence.

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Question 21 21. What limits an owner's liability arising from the business?

Question 22 22. Big businesses will usually have an _ over small businesses.

Question 23 23. The rewards for companies doing business globally can be high, as the potential customer base rises from roughly to around .

Question 24 24. The _ considers any manufacturer with no more than 500 employees as a small business.

Question 25 25. Which one of the following is part of starting and running a small business?

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Question 26 26. Which of the following helps a small business compete with big business in the global market?

Question 27 27. Which of the following is not part of human resources management?

Question 28 28. Tina, a new small business owner, has robust revenue that are paid six months after the sale. Her business plan does not have an exit strategy. Which of the following is a reason that her business may fail?

Question 29 29. In the United States, how is the size of a business defined?

Question 30 30. The raw materials are late for delivery, shutting down production. How would an entrepreneur most likely deal with the situation?

Entrepreneurship and Small Business Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Business 100: Intro to Business  /  Business Courses
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