RSM 100 Chapter 5 Checks Exam | Questions with
100% Correct Answers | Verified | Latest Update
2026
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Terms in this set (23)
How does Industry Canada define Industry Canada defines a small business as an
small business? independent business that has fewer than 100
employees and revenues not more than $2 million.
In what industries do small Small businesses provide many jobs in
businesses play a significant role? construction, agriculture, wholesale trade, services,
and retail trade.
What are the three key ways that Small businesses create new jobs, create new
small businesses contribute to the industries, and provide innovation.
economy?
How are new industries formed? New industries are formed when small businesses
shift their focus to meet consumer interests and
preferences. Innovation and new technology can
play a significant role. In addition, new industries
can be created when both the business world and
consumers see a need for change.
What percentage of small businesses About 70 percent are in business after five years.
are still operating five years after
starting?
100% Correct Answers | Verified | Latest Update
2026
Save
Terms in this set (23)
How does Industry Canada define Industry Canada defines a small business as an
small business? independent business that has fewer than 100
employees and revenues not more than $2 million.
In what industries do small Small businesses provide many jobs in
businesses play a significant role? construction, agriculture, wholesale trade, services,
and retail trade.
What are the three key ways that Small businesses create new jobs, create new
small businesses contribute to the industries, and provide innovation.
economy?
How are new industries formed? New industries are formed when small businesses
shift their focus to meet consumer interests and
preferences. Innovation and new technology can
play a significant role. In addition, new industries
can be created when both the business world and
consumers see a need for change.
What percentage of small businesses About 70 percent are in business after five years.
are still operating five years after
starting?
