DC Entrepreneurship Review Part 4

Brand recognition is a measure of how well people recognize a product/service.

• true

• false

The __________ the dollar amount of a purchase and the more ____________ they make a purchase, the shorter the distance that perspective customers are willing to travel.

• Higher; Infrequently

• Lower; Infrequently

• Lower; Occasionally

• Higher; Regularly

• Lower; Regularly

Much more important than the idea, is the ____________________.

• Ingenuity behind the idea.

• Will to see it through.

• Funding that starts it.

• Tax incentives you can receive.

• Team that will execute it.

In forecasting the company's financial position for the new year, an accountant for XYZ Widgets Inc. is performing a break-even analysis. The company has fixed costs of $312,000; variable costs of $45 per widget; and sells the widgets at a price of $125 each. How many widgets need to be sold in order to break even?

• 2,250

• 2,496

• 2,200

• 6,934

• 3,900

________ is a jointly owned business.

• C-Corporation

• Cooperative

• LLP

• S-Corporation

• LLC

Which of these factors does not typically need to be defined in a job description?

• Necessary Skills

• Typical Working Environment

• Company Culture

• Age and Gender

• Educational Requirements

Acquisition occurs when you purchase another business and its assets.

• true

• false

It is common to start your own business and work less than thirty hours a week.

• true

• false

An Income Statement is a listing of all the income generated over a given period.

• true

• false

Which of the following does not need to be included in a job description?

• Physical Requirements of the Job

• Knowledge, Skills, and Abilities

• Job Functions

• Required Education/Experience

• Salary/Compensation