ENT 2113 Final Exam 2025 Graded A+
1.A critical element that an entrepreneur must solve for success is to
develop the ability to generate consistent and growing sales.
a. true
b. false: true
2.Heather Schuck, owner of Glamajama, is an example of how women
can concentrate on more than one facet of life.
a. true
b. false: true
3.The presence of venture capital for start-ups is limited outside of the
United States.
a. true
b. false: true
4.Every business that has been documented in the Fortune 500 list began
as a new venture by a single individual or a small group of people.
a. true
b. false: true
5.A customer of a small business could be considered an important stake-
holder to the success of a company.
a. true
b. false: true
6. aid(s), counsel(s), assist(s), and protect(s) the interests of
small business concerns.
a. Medium-sized businesses
b. Fortune 500 companies
,c. the U.S. Small Business Administration
d. Stakeholders: c. the U.S. Small Business Administration
7.The development and implementation of a new business is part
and part .
a. art; science
b. luck; skill
c. genius; hard work
d. resources; hard work: a. art; science
8.During the 1970s and 1980s, the occupied the dominant
economic position in the world.
a. Americans
b. Germans
c. Russians
d. Japanese: d. Japanese
9.Microloans have been in existence for years; they are most commonly
made directly to for self-development.
a. young adults
b. men
c. Hispanics
d. women: d. women
10.Until the mid-1880s, almost all U.S. businesses were .
a. indifferent
b. small
c. medium
, d. large: b. small
11.The United States Small Business Administration (SBA) was organized
as a part of
a. the Small Business Agency of 1960
b. the Small Business Administration Law
c. the Small Business Act of 1950
d. the Small Business Act of July 30, 1953: d. the Small Business Act of
July 30, 1953
12.Which of the following is true of robber barons in the context of the
history of entrepreneurial businesses in the United States?
a. They were responsible for the failure of several small businesses.
b. They failed to take advantage of the economies of scale
c. The indulged in great abuses in order to succeed in their business.
d. They dominated those industrial sectors that were already well-
estab- lished.: c. The indulged in great abuses in order to succeed in
their business.
13.The success of entrepreneurial businesses occurs partially because
they are .
a. characterized by corporate layers of management
b. responsbile to public stockholders
c. invested heavily in policies and procedures
d. more focused than their large corporate counterparts: d. more focused
than their large corporate counterparts
14.Which of the following statements is true about venture capital start-ups?
a. They refrain from developing operations in multiple locations very
1.A critical element that an entrepreneur must solve for success is to
develop the ability to generate consistent and growing sales.
a. true
b. false: true
2.Heather Schuck, owner of Glamajama, is an example of how women
can concentrate on more than one facet of life.
a. true
b. false: true
3.The presence of venture capital for start-ups is limited outside of the
United States.
a. true
b. false: true
4.Every business that has been documented in the Fortune 500 list began
as a new venture by a single individual or a small group of people.
a. true
b. false: true
5.A customer of a small business could be considered an important stake-
holder to the success of a company.
a. true
b. false: true
6. aid(s), counsel(s), assist(s), and protect(s) the interests of
small business concerns.
a. Medium-sized businesses
b. Fortune 500 companies
,c. the U.S. Small Business Administration
d. Stakeholders: c. the U.S. Small Business Administration
7.The development and implementation of a new business is part
and part .
a. art; science
b. luck; skill
c. genius; hard work
d. resources; hard work: a. art; science
8.During the 1970s and 1980s, the occupied the dominant
economic position in the world.
a. Americans
b. Germans
c. Russians
d. Japanese: d. Japanese
9.Microloans have been in existence for years; they are most commonly
made directly to for self-development.
a. young adults
b. men
c. Hispanics
d. women: d. women
10.Until the mid-1880s, almost all U.S. businesses were .
a. indifferent
b. small
c. medium
, d. large: b. small
11.The United States Small Business Administration (SBA) was organized
as a part of
a. the Small Business Agency of 1960
b. the Small Business Administration Law
c. the Small Business Act of 1950
d. the Small Business Act of July 30, 1953: d. the Small Business Act of
July 30, 1953
12.Which of the following is true of robber barons in the context of the
history of entrepreneurial businesses in the United States?
a. They were responsible for the failure of several small businesses.
b. They failed to take advantage of the economies of scale
c. The indulged in great abuses in order to succeed in their business.
d. They dominated those industrial sectors that were already well-
estab- lished.: c. The indulged in great abuses in order to succeed in
their business.
13.The success of entrepreneurial businesses occurs partially because
they are .
a. characterized by corporate layers of management
b. responsbile to public stockholders
c. invested heavily in policies and procedures
d. more focused than their large corporate counterparts: d. more focused
than their large corporate counterparts
14.Which of the following statements is true about venture capital start-ups?
a. They refrain from developing operations in multiple locations very
