ENT 2113 2025/2026 QUESTIONS AND SOLUTION RATED
A+
✔✔Identify a true statement about the history of entrepreneurial businesses in the
United States. - ✔✔The 1880s saw the initial development of the nation's large
industrial base.
✔✔Small companies have flourished in the United States because they - ✔✔respond
more quickly to their customers' needs.
✔✔Which one of the following is a huge advantage for small business owners to start a
business? - ✔✔desire to be one's own boss
✔✔Identify a defining characteristic of entrepreneurial firms. - ✔✔They tend to be
oriented toward the personal goals of the founder.
✔✔An entrepreneur needs to set limits to how much time he or she spends on a
business for it to be successful. - ✔✔False
✔✔Entrepreneurs driven by circumstantial motivators are often more proactive than
those with personal motivation for starting a business.
Group starts - ✔✔False
✔✔he Myers-Briggs test is used for personality evaluations.
Group starts - ✔✔True
✔✔In the context of the triggers that encourage new business formations, circumstance
motivators tend to result in more of a defensive positioning.
Group starts - ✔✔True
✔✔According to the agency theory, a manager at a large firm is more likely to exploit
organizational resources for his or her own benefit than the owner of a small firm. -
✔✔True
✔✔When should a new business owner ensure there are sufficient financial resources
to operate the business? - ✔✔prior to the start
✔✔The break-even point is defined as - ✔✔the level where revenue coming into the
firm is sufficient to cover expenses.
✔✔Which of the following personality tests is based on the philosophy of Carl Jung? -
✔✔Myers-Briggs
, ✔✔Some communities offer facilities that house new businesses and provide resources
for them. These are called ________. - ✔✔Incubators
✔✔In general, the greater the debt a business owner is willing to take on, the ________
the risk tolerance. - ✔✔Higher
✔✔What does a potential entrepreneur need to consider when starting a new business?
- ✔✔risk tolerance
prior experience
personality orientation
✔✔Which of the following is an advantage that small firms have over large businesses?
- ✔✔the ability to respond quickly to changes
✔✔All of these are potential issues for an owner in a family business except -
✔✔reprimanding a family member.
promoting a family member.
firing a family member.
✔✔In the context of entrepreneurial orientation, the presence of ________ often leads
young people to be pioneers in an area, as they are not limited by the restrictions of the
past. - ✔✔bounded rationality
✔✔In the context of supports for new businesses, why are established businesses often
hesitant to buy from a start-up business? - ✔✔because it is not clear if the new
business will be able to fulfill an order or service a product in the future.
✔✔Which of the following types of firms do business incubators work best with? -
✔✔scientific firms
✔✔Identify a true statement about a large firm that has organizational slack. - ✔✔The
loss of an employee barely affects the abilities of its workforce.
✔✔A person who is passionate about a hobby might be able to turn that hobby into a
successful business. - ✔✔True
✔✔The first column in a gap analysis is devoted to various business ideas. - ✔✔True
✔✔The second column in a gap analysis is devoted to listing the market need. -
✔✔False
✔✔When a potential business owner has several ideas for a business, he or she needs
to identify one on which to perform a due diligence analysis. - ✔✔True
A+
✔✔Identify a true statement about the history of entrepreneurial businesses in the
United States. - ✔✔The 1880s saw the initial development of the nation's large
industrial base.
✔✔Small companies have flourished in the United States because they - ✔✔respond
more quickly to their customers' needs.
✔✔Which one of the following is a huge advantage for small business owners to start a
business? - ✔✔desire to be one's own boss
✔✔Identify a defining characteristic of entrepreneurial firms. - ✔✔They tend to be
oriented toward the personal goals of the founder.
✔✔An entrepreneur needs to set limits to how much time he or she spends on a
business for it to be successful. - ✔✔False
✔✔Entrepreneurs driven by circumstantial motivators are often more proactive than
those with personal motivation for starting a business.
Group starts - ✔✔False
✔✔he Myers-Briggs test is used for personality evaluations.
Group starts - ✔✔True
✔✔In the context of the triggers that encourage new business formations, circumstance
motivators tend to result in more of a defensive positioning.
Group starts - ✔✔True
✔✔According to the agency theory, a manager at a large firm is more likely to exploit
organizational resources for his or her own benefit than the owner of a small firm. -
✔✔True
✔✔When should a new business owner ensure there are sufficient financial resources
to operate the business? - ✔✔prior to the start
✔✔The break-even point is defined as - ✔✔the level where revenue coming into the
firm is sufficient to cover expenses.
✔✔Which of the following personality tests is based on the philosophy of Carl Jung? -
✔✔Myers-Briggs
, ✔✔Some communities offer facilities that house new businesses and provide resources
for them. These are called ________. - ✔✔Incubators
✔✔In general, the greater the debt a business owner is willing to take on, the ________
the risk tolerance. - ✔✔Higher
✔✔What does a potential entrepreneur need to consider when starting a new business?
- ✔✔risk tolerance
prior experience
personality orientation
✔✔Which of the following is an advantage that small firms have over large businesses?
- ✔✔the ability to respond quickly to changes
✔✔All of these are potential issues for an owner in a family business except -
✔✔reprimanding a family member.
promoting a family member.
firing a family member.
✔✔In the context of entrepreneurial orientation, the presence of ________ often leads
young people to be pioneers in an area, as they are not limited by the restrictions of the
past. - ✔✔bounded rationality
✔✔In the context of supports for new businesses, why are established businesses often
hesitant to buy from a start-up business? - ✔✔because it is not clear if the new
business will be able to fulfill an order or service a product in the future.
✔✔Which of the following types of firms do business incubators work best with? -
✔✔scientific firms
✔✔Identify a true statement about a large firm that has organizational slack. - ✔✔The
loss of an employee barely affects the abilities of its workforce.
✔✔A person who is passionate about a hobby might be able to turn that hobby into a
successful business. - ✔✔True
✔✔The first column in a gap analysis is devoted to various business ideas. - ✔✔True
✔✔The second column in a gap analysis is devoted to listing the market need. -
✔✔False
✔✔When a potential business owner has several ideas for a business, he or she needs
to identify one on which to perform a due diligence analysis. - ✔✔True
