Micro-Enterprise II Pre-test (solved)

A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise, and all of the food on the cruise will be healthy alternatives.Classify each expense as fixed or variable. SHIP RENTAL correct answers Fixed What is one impact that a company might experience as a result of an ethical violation? correct answers Reputation damage and significant loss of customers' trust Which are three risks of entrepreneurship? correct answers Long hours A fitness trainer is assessing a business strategy in a neighborhood whose residents are mainly single, recent college graduates. The trainer would like to target local businesses in the neighborhood to acquire new customers.Which group should be targeted at these local businesses? correct answers Employees who work at them What is an advantage of buying a franchise? correct answers Marketing assistance A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise, and all of the food on the cruise will be healthy alternatives.Classify each expense as fixed or variable. FOOD correct answers VARIABLE A dog grooming business is legally structured as a sole proprietorship. What are the tax implications for this structure? correct answers All profit earned by a sole proprietorship is income earned by the owner, for which the owner will have a tax liability A fitness trainer is presenting a business plan for a new studio to investors. The trainer envisions a studio with equipment and features that will meet the needs of customers with a variety of personal and work schedules. What studio feature would appeal to customers with demanding schedules? correct answers Providing 24 hour member access A landscaper owns a successful local business that provides lawn care services. The owner wants to enhance the sustainability and longevity of the company. What should the owner do? correct answers Develop off-season services and secure a long-term credit line Which three key values does a business plan provide? correct answers It helps determine business viability A hair salon is trying to determine how to tell if it is successful or not and has decided it will be successful when it starts to make a profit.Which milestone will indicate this? correct answers Reached break- even point A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise,