Intro to Biz Chapter-6 Review

Front

Most of the money needed to start a new business comes from: the sale of stock, credit given by businesses, personal and business loans, the entrepreneur and his/her family.

Back

the entrepreneur and his/her family.

Front

In the U.S., nearly as many small businesses close as begin each year. True or False?

Back

True

Front

Which part of the business plan discusses short and long term goals? Options: financial plans, description of business, description of competition, customer analysis

Back

description of business

Front

Successful entrepreneurs tend to have all the following characteristics EXCEPT: energetic, goal-oriented, creative, hesitant

Back

hesitant

Front

What is the LEAST important factor in becoming an entrepreneur? Options: living in a major U.S. city, having special skills & abilities, desire to be your own boss, developing a good business plan

Back

living in a major U.S. city

Front

A ______ business should locate in an area with access to raw materials and transportation.

Back

manufacturing

Front

Which of the following is not a common reason for the failure of small businesses? lack of sufficient start-up money., failure to manage credit offered to customers, shortage of workers, lack of management experience

Back

shortage of workers

Front

Which of the following is NOT part of the operations plan section of the business plan?
organization of the company,
human resource plans,
analysis of resources needed

Back

sales forecasts

Front

Technically, a small business is described to have fewer than ______________________ employees.

Back

500

Front

Small businesses have an advantage over big businesses when customers want more individual attention.

Back

want more individual attention