Chapter 6 & 7 Test

1) Amount of money needed to open the business

• Venture capital
• Start up financing
• Short term financing
• Long term financing

2) Someone who takes a risk in starting a business to earn a profit

• Entrepreneur
• Entrepreneurship
• Small business
• Small business administration

3) An independent business with fewer than 500 employees

• Entrepreneur
• Entrepreneurship
• Small business
• Small business administration

4) Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable

• Venture capital
• Start up financing
• Short term financing
• Long term financing

5) An invention or creation that is brand new

• Innovation
• Improvement
• Business plan

6) The process of starting, organizing, managing, and assuming the responsibility for a business

• Entrepreneur
• Entrepreneurship
• Small business
• Small business administration

7) Government agency that helps small business owners develop business plans and obtain financing and other support for their companies

• Entrepreneur
• Entrepreneurship
• Small business
• Small business administration

8) Money needed to pay for the current operating activities of a business

• Venture capital
• Start up financing
• Short term financing
• Long term financing

9) A written description of the business idea and how it will be carried out, including all major business activities

• Innovation
• Improvement
• Business plan

10) Money needed for the main resources of a business that will last for many years

• Venture capital
• Start up financing
• Short term financing
• Long term financing