AAMI Small Business Management - Study for Final Exam Questions and Answers 100% Pass

AAMI Small Business Management - Study for Final Exam Questions and Answers 100% Pass T or F - Three primary rewards of entrepreneurship are thought to be profit, independence, and personal fulfillment. - Correct Answer ️️ -True T or F - Some estimate that entrepreneurs are four times less likely to be millionaires than are those who work for others. - Correct Answer ️️ -False T of F - A refugee is a person who tried entrepreneurship, failed, and sought refuge in corporate employment. - Correct Answer ️️ -False T or F - Entrepreneurial teams are formed by bringing together two or more persons who together function as entrepreneurs. - Correct Answer ️️ -True T or F - A large percentage of small business owners cite their desire to be their own boss as the main reason they left their previous employers. - Correct Answer ️️ -True T or F - Small firms are at a great disadvantage when it comes to competing based on customer service. - Correct Answer ️️ -False T or F - The ideal age for starting a business appears to be between 40 and 50. - Correct Answer ️️ -False T or F - Unexpectedly stumbling across a business opportunity would not be considered a precipitating event. - Correct Answer ️️ -False Which of the following is classified as an entrepreneur? - Correct Answer ️️ -An owner- manager who bought out the founder of a firm The size standard for small business used in this course would exclude firms that - Correct Answer ️️ -have more than 100 employees. When a 32-year-old funeral director launches a funeral firm after seven years' experience in that industry, he - Correct Answer ️️ -is launching his venture into small business entrepreneurship. Which of the following situations might be a precipitating event? - Correct Answer ️️ - Getting laid off by General Motors. An entrepreneur's concern that his values continued to be reflected in the ways in which his firm conducts business after he retires is an example of the concept of ________. - Correct Answer ️️ -entrepreneurial legacy T or F - Small businesses that practice skimming of income are acting ethically and legally. - Correct Answer ️️ -False T or F - Temptations and pressures to act unethically are thought to be greater in big business than in small business. - Correct Answer ️️ -False T or F - Small firm owners may be tempted to rationalize bribery or other unethical behavior as a way of offsetting what seems to be a competitive disadvantage. - Correct Answer ️️ - True T or F - Better Business Bureaus serve primarily as assistants to district attorneys, helping expose corrupt business practices. - Correct Answer ️️ -False