TEST BANK
Small Business Management: Launching & Growing
Entrepreneurial Ventures 20th Edition
by Justin G. Longenecker, J. William Petty,
SC
O
R
EG
U
ID
ES
,TABLE OF CONTENT
Part 1. Entrepreneurship: A World of Opportunity
Chapter 1. The Entrepreneurial Life
Chapter 2. Integrity, Ethics, and Social Entrepreneurship
Part 2. Starting from Scratch or Joining an Existing Business
Chapter 3. Starting a Small Business
SC
Chapter 4. Franchises and Independent Contracting in the Gig and Sharing Economies
Chapter 5. The Family Business and Buyouts
Part 3. Developing the New Venture Business Plan
O
Chapter 6. Visualizing Your Dream: The Business Model and the Business Plan
Chapter 7. The Marketing Plan
R
Chapter 8. The Organizational Plan: Teams, Legal Structures, Alliances, and Directors
Chapter 9. The Location Plan
EG
Chapter 10. Understanding a Firm’s Financial Statements
Chapter 11. Forecasting Financial Requirements
Chapter 12. Financing the Small Business
U
Chapter 13. Planning for the Harvest
Chapter 14. Building Customer Relationships
ID
Part 4. Focusing on the Customer: Marketing Growth Strategies
Chapter 15. Product Development and Supply Chain Management
ES
Chapter 16. Pricing and Credit Decisions
Chapter 17. Promotional Planning
Chapter 18. Global Opportunities for Small Businesses
Part 5. Managing Growth in the Small Business
Chapter 19. Professional Management and the Small Business
Chapter 20. Managing Human Resources
,Chapter 21. Managing Small Business Operations
Chapter 22. Managing the Firm’s Assets
Chapter 23. Managing Risk
SC
O
R
EG
U
ID
ES
, Chapter 01 - The Entrepreneurial Life
The Entrepreneurial Life
True / False
1. The universally accepted definition of the term small business is based solely on the number of people employed by the
firm.
a. True
b. False
ANSWER: False
POINTS: 1
SC
DIFFICULTY: Easy
REFERENCES: 1-2 Small Business and Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIV LONG.SMAL.23.01.02 - LO: 1-2
ES:
O
NATIONAL STANDAR United States - BUS PROG: Promotion
DS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
TOPICS: Creation of Value
R
KEYWORDS: Bloom's: Understand
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:56 AM
EG
2. There is no single definition of entrepreneurship.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
U
REFERENCES: 1-2 Small Business and Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
ID
LEARNING OBJECTIV LONG.SMAL.23.01.02 - LO: 1-2
ES:
NATIONAL STANDAR United States - BUS PROG: Promotion
DS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
ES
TOPICS: Creation of Value
KEYWORDS: Bloom's: Understand
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:56 AM
3. An entrepreneur who bootstraps would resort to bartering or using a personal credit card.
a. True
b. False
ANSWER: True
POINTS: 1
Copyright Cengage Learning. Powered by Cognero. Page 1
Small Business Management: Launching & Growing
Entrepreneurial Ventures 20th Edition
by Justin G. Longenecker, J. William Petty,
SC
O
R
EG
U
ID
ES
,TABLE OF CONTENT
Part 1. Entrepreneurship: A World of Opportunity
Chapter 1. The Entrepreneurial Life
Chapter 2. Integrity, Ethics, and Social Entrepreneurship
Part 2. Starting from Scratch or Joining an Existing Business
Chapter 3. Starting a Small Business
SC
Chapter 4. Franchises and Independent Contracting in the Gig and Sharing Economies
Chapter 5. The Family Business and Buyouts
Part 3. Developing the New Venture Business Plan
O
Chapter 6. Visualizing Your Dream: The Business Model and the Business Plan
Chapter 7. The Marketing Plan
R
Chapter 8. The Organizational Plan: Teams, Legal Structures, Alliances, and Directors
Chapter 9. The Location Plan
EG
Chapter 10. Understanding a Firm’s Financial Statements
Chapter 11. Forecasting Financial Requirements
Chapter 12. Financing the Small Business
U
Chapter 13. Planning for the Harvest
Chapter 14. Building Customer Relationships
ID
Part 4. Focusing on the Customer: Marketing Growth Strategies
Chapter 15. Product Development and Supply Chain Management
ES
Chapter 16. Pricing and Credit Decisions
Chapter 17. Promotional Planning
Chapter 18. Global Opportunities for Small Businesses
Part 5. Managing Growth in the Small Business
Chapter 19. Professional Management and the Small Business
Chapter 20. Managing Human Resources
,Chapter 21. Managing Small Business Operations
Chapter 22. Managing the Firm’s Assets
Chapter 23. Managing Risk
SC
O
R
EG
U
ID
ES
, Chapter 01 - The Entrepreneurial Life
The Entrepreneurial Life
True / False
1. The universally accepted definition of the term small business is based solely on the number of people employed by the
firm.
a. True
b. False
ANSWER: False
POINTS: 1
SC
DIFFICULTY: Easy
REFERENCES: 1-2 Small Business and Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIV LONG.SMAL.23.01.02 - LO: 1-2
ES:
O
NATIONAL STANDAR United States - BUS PROG: Promotion
DS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
TOPICS: Creation of Value
R
KEYWORDS: Bloom's: Understand
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:56 AM
EG
2. There is no single definition of entrepreneurship.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
U
REFERENCES: 1-2 Small Business and Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
ID
LEARNING OBJECTIV LONG.SMAL.23.01.02 - LO: 1-2
ES:
NATIONAL STANDAR United States - BUS PROG: Promotion
DS: United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
ES
TOPICS: Creation of Value
KEYWORDS: Bloom's: Understand
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:56 AM
3. An entrepreneur who bootstraps would resort to bartering or using a personal credit card.
a. True
b. False
ANSWER: True
POINTS: 1
Copyright Cengage Learning. Powered by Cognero. Page 1
