Introduction to Business & Technology Final Exam Review

Entrepreneurs are willing to work until a job is done, no matter how long it takes.

• True

• False

Entrepreneurs take on risks, but they are not reckless.

• True

• False

All of the following are characteristics of Entrepreneurs except ______.

• dependent

• enthusiastic

• persistent

• inquisitive

All of the following are forms of business ownership, except ______.

• Sole Proprietorship

• Partnership

• Corporation

• All of the above

This section of the business plan will help determine your financial needs.

• Financial Management

• Operations

• Marketing

• Introduction

This section of your business plan should describe the products and/or services you will offer, your target market, your positioning strategy, pricing, distribution, and promotional mix.

• Operations

• Marketing Plan

• Statement of Purpose

• Appendix

A business plan is important for a new business for all of the following reasons EXCEPT ______.

• it makes you think about all aspects of your business

• it can help you communicate your ideas to others

• it guarantees you will get financing for your business

• it can serve as a tool for managing your business

Which section of the business plan is always first?

• Executive Summary

• Operations

• Marketing

• Introduction

Fixed expenses are expenses that change from month to month.

• True

• False

Fixed expenses are expenses that stay the same from month to month.

• True

• False