Intro to Busn- Ch 5 Test

Front

Company values and beliefs are established in the _____.

Back

vision statement

Front

1st step starting a business, an entrepreneur needs to determine if there is enough _____.

Back

demand

Front

A business plan must follow _____.

Back

Logical format

Front

A business can be classified as a “small business” if it has fewer than ____ employees.

Back

500

Front

Most business in the United States are owned and operated by ____.

Back

one person

Front

People become entrepreneurs for only for the money.

Back

False

Front

A virtual business acts like a business, but is not a real business.

Back

False

Front

Entrepreneurship is the process of ____.

Back

recognizing a business opportunity, gathering the resources needed to go into business, using research to find if there is a market for a product.

Front

One of the biggest obstacles in starting a business is obtaining financing, having a good idea, being good at something, accepting responsibility.

Back

obtaining financing

Front

A brief account of the key points contained in a business plan is the

Back

executive summary