BUS 110 - Chapter 5 Questions
with Accurate Answers
____ provide onsite (college campuses) management counseling correct answer
Small Business Institutes (SBIs)
_____ likely affects a company's reputation (through a lack of funding) more than
anything else, at least initially. correct answer Poorly managed growth
A financial interest in the property or fixtures of the business, to guarantee
payment of the debt correct answer Collateral
A growing trend among small businesses is _____; which involves individuals who
use entrepreneurship to address social problems. correct answer Social
Entrepreneurship
A license to sell another's products or to use another's name in business, or both
correct answer Franchise
A precise statement of the rationale for a business and a step-by-step explanation
of how it will achieve its goals correct answer Business Plan
A retail business would be especially attractive to an entrepreneur for what two
reasons? correct answer It is a field that is relatively easy to enter.
It requires low initial financing.
, A small business makes high-end backpacks and purses and customizes them to
meet specific customer needs and wants. This business is a ______. correct
answer Manufacturer
A small business owner must deal with ongoing worries about competition,
employee problems, rent increases or changing market demand. All of these are
aspects of which disadvantage of small business ownership? correct answer High
stress levels
A well-written business plan will include which three items? correct answer An
analysis of the competition
An explanation of the business
An estimate of income and expenses
A would-be entrepreneur might choose retailing, services, and high technology
industries to start their businesses because these fields ______. correct answer
Are relatively easy to enter
Acquire goods from producers or wholesalers and sell them to consumers correct
answer Retailers (Retailing)
An agreement by which a financial institution promises to lend a business a
predetermined sum on demand correct answer A line of credit
An economic model involving the sharing of underutilized resources correct
answer Sharing Economy (often referred to as the "gig economy")
with Accurate Answers
____ provide onsite (college campuses) management counseling correct answer
Small Business Institutes (SBIs)
_____ likely affects a company's reputation (through a lack of funding) more than
anything else, at least initially. correct answer Poorly managed growth
A financial interest in the property or fixtures of the business, to guarantee
payment of the debt correct answer Collateral
A growing trend among small businesses is _____; which involves individuals who
use entrepreneurship to address social problems. correct answer Social
Entrepreneurship
A license to sell another's products or to use another's name in business, or both
correct answer Franchise
A precise statement of the rationale for a business and a step-by-step explanation
of how it will achieve its goals correct answer Business Plan
A retail business would be especially attractive to an entrepreneur for what two
reasons? correct answer It is a field that is relatively easy to enter.
It requires low initial financing.
, A small business makes high-end backpacks and purses and customizes them to
meet specific customer needs and wants. This business is a ______. correct
answer Manufacturer
A small business owner must deal with ongoing worries about competition,
employee problems, rent increases or changing market demand. All of these are
aspects of which disadvantage of small business ownership? correct answer High
stress levels
A well-written business plan will include which three items? correct answer An
analysis of the competition
An explanation of the business
An estimate of income and expenses
A would-be entrepreneur might choose retailing, services, and high technology
industries to start their businesses because these fields ______. correct answer
Are relatively easy to enter
Acquire goods from producers or wholesalers and sell them to consumers correct
answer Retailers (Retailing)
An agreement by which a financial institution promises to lend a business a
predetermined sum on demand correct answer A line of credit
An economic model involving the sharing of underutilized resources correct
answer Sharing Economy (often referred to as the "gig economy")
