Copyright

PLACE Business Education: Entrepreneurship 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!

Page 1

Question 1 1. Which one of the following is not an important person to which an entrepreneur must engage in communication?

Question 2 2. Which of the following helps a small business compete with big business in the global market?

Question 3 3. What type of accounting method recognizes income when earned and expenses when incurred?

Question 4 4. Which of the following factors of production is most relevant to entrepreneurship?

Question 5 5. In the United States, how is the size of a business defined?

Page 2

Question 6 6. 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 7 7. What is the best explanation of a microenterprise?

Question 8 8. What is the typical way a small business is funded?

Question 9 9. What is outsourcing?

Question 10 10. What's the best explanation of entrepreneurship?

Page 3

Question 11 11. Which of the the following is not a component of marketing for a small business?

Question 12 12. Which type of entrepreneur is focused on getting a new business off the ground and then moving on to start a new one?

Question 13 13. Which one of the following is not a typical characteristic of an entrepreneur?

Question 14 14. What method of financing is available to small business owners?

Question 15 15. What type of entrepreneur is required to invest all profits back into the enterprise?

Page 4

Question 16 16. 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?

Question 17 17. The raw materials are late for delivery, shutting down production. How would an entrepreneur most likely deal with the situation?

Question 18 18. What is the biggest advantage big business has over small business in the global marketplace?

Question 19 19. Which of the following is true about a small business in the global marketplace?

Question 20 20. Which of the following is not part of human resources management?

Page 5

Question 21 21. How does the global market work?

Question 22 22. Which one of the following is part of starting and running a small business?

Question 23 23. What type of entrepreneur may be involved with skunk works?

Question 24 24. How many employees can manufacturing companies have and still be considered a small business in the United States?

Question 25 25. Which one of the following is the best explanation of an entrepreneur?

PLACE Business Education: Entrepreneurship 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!

PLACE Business Education: Practice & Study Guide  /  Business Courses
Support