BMGT Final Exam questions well
answered to pass
Self-confidence - correct answer ✔✔a personality characteristic common among entrepreneurs
What do trends in US small businesses show? - correct answer ✔✔a growing number of small
businesses owned by minorities
99% - correct answer ✔✔Almost ________ of US Businesses meet the definition of "small
business"
The owner lacks experience and business skills - correct answer ✔✔A common reason new
small businesses often fail is...
An executive summary - correct answer ✔✔The first element in a good business plan is...
If you start a small business and want to avoid losing any more than the original investment,
what form of business ownership is best? - correct answer ✔✔limited partnership
How can teamwork make teams more successful? - correct answer ✔✔Task performance,
member satisfaction, team viability
angel investor - correct answer ✔✔wealthy individual willing to invest in return for equity in a
new venture
initial public offering - correct answer ✔✔an initial selling of shares of the stock to the public at
large
, venture capitalists - correct answer ✔✔make large investments in new ventures in return for an
equity stake in the business
equity financing - correct answer ✔✔gives ownership shares to outsiders in return for their
financial investments
debt financing - correct answer ✔✔involves borrowing money from another person, bank, or
financial institution
Limited Liability Corporation - correct answer ✔✔LLC; combines the advantages of the sole
proprietorship, partnership, and corporation
Corporation - correct answer ✔✔legal entity that exists separately from its owners
In a limited partnership... - correct answer ✔✔owners share profits but responsibility for losses
is limited to original investments
Partnership - correct answer ✔✔when two or more people agree to contribute resources to
start and operate a business together
Sole proprietorship - correct answer ✔✔an individual pursuing business for a profit
Business plan - correct answer ✔✔describes the direction for a new business and the financing
needed to operate it
Small Business Development Centers - correct answer ✔✔offer guidance to entrepreneurs and
small business owners on how to set up and manage business operations
answered to pass
Self-confidence - correct answer ✔✔a personality characteristic common among entrepreneurs
What do trends in US small businesses show? - correct answer ✔✔a growing number of small
businesses owned by minorities
99% - correct answer ✔✔Almost ________ of US Businesses meet the definition of "small
business"
The owner lacks experience and business skills - correct answer ✔✔A common reason new
small businesses often fail is...
An executive summary - correct answer ✔✔The first element in a good business plan is...
If you start a small business and want to avoid losing any more than the original investment,
what form of business ownership is best? - correct answer ✔✔limited partnership
How can teamwork make teams more successful? - correct answer ✔✔Task performance,
member satisfaction, team viability
angel investor - correct answer ✔✔wealthy individual willing to invest in return for equity in a
new venture
initial public offering - correct answer ✔✔an initial selling of shares of the stock to the public at
large
, venture capitalists - correct answer ✔✔make large investments in new ventures in return for an
equity stake in the business
equity financing - correct answer ✔✔gives ownership shares to outsiders in return for their
financial investments
debt financing - correct answer ✔✔involves borrowing money from another person, bank, or
financial institution
Limited Liability Corporation - correct answer ✔✔LLC; combines the advantages of the sole
proprietorship, partnership, and corporation
Corporation - correct answer ✔✔legal entity that exists separately from its owners
In a limited partnership... - correct answer ✔✔owners share profits but responsibility for losses
is limited to original investments
Partnership - correct answer ✔✔when two or more people agree to contribute resources to
start and operate a business together
Sole proprietorship - correct answer ✔✔an individual pursuing business for a profit
Business plan - correct answer ✔✔describes the direction for a new business and the financing
needed to operate it
Small Business Development Centers - correct answer ✔✔offer guidance to entrepreneurs and
small business owners on how to set up and manage business operations
