DECA Entrepreneurship Exam questions
well answered already passed
What requirement of a legally enforceable contract requires that both of the parties who are entering
into the contract are sane, sober, and of legal age?
A. Genuineness of assent
B. Consideration
C. Capacity
D. Legality of purpose - correct answer ✔✔capacity
A manufacturer of dishwashing soap has just invented a new type of soap that cleans better. The
manufacturer should choose to distribute the soap through __________ distribution.
A. intensive
B. exclusive
C. inclusive
D. selective - correct answer ✔✔intensive
Financial loss from investing time and money to comply with accounting standards is an example of
which strategic risk:
A. Changing customer needs
B. Reputation damage
C. Regulatory and political issues
D. Obsolescence - correct answer ✔✔Regulatory and political issues
, Julio is starting a new business, and he has formed relationships with several successful local business
owners. Which of the following is the best way to leverage these relationships to help his own business
succeed:
A. Gaining inside marketing information
B. Persistently asking those business owners to invest in his company
C. Attending trade shows and conferences to make new connections
D. Sharing those businesses' content on social media - correct answer ✔✔Sharing those businesses'
content on social media
Which of the following is a global trend that might encourage an entrepreneur to consider international
business opportunities:
A. Higher allowances
B. Lower tariffs
C. Enforceable trade agreements
D. Flexible currency rates - correct answer ✔✔Lower tariffs
Evan does not want the legal obligation of repaying a loan and is willing to share profits with others.
Which of the following options is Evan most likely to select to fund a new venture:
A. Private equity
B. Collateral savings
C. Trade credit
D. Community bank - correct answer ✔✔Private equity
Because the MBC Company has one location that services the eastern part of the country and another
location that services the western part of the country, the company's work flow is organized by
A. relationship.
B. work teams.
well answered already passed
What requirement of a legally enforceable contract requires that both of the parties who are entering
into the contract are sane, sober, and of legal age?
A. Genuineness of assent
B. Consideration
C. Capacity
D. Legality of purpose - correct answer ✔✔capacity
A manufacturer of dishwashing soap has just invented a new type of soap that cleans better. The
manufacturer should choose to distribute the soap through __________ distribution.
A. intensive
B. exclusive
C. inclusive
D. selective - correct answer ✔✔intensive
Financial loss from investing time and money to comply with accounting standards is an example of
which strategic risk:
A. Changing customer needs
B. Reputation damage
C. Regulatory and political issues
D. Obsolescence - correct answer ✔✔Regulatory and political issues
, Julio is starting a new business, and he has formed relationships with several successful local business
owners. Which of the following is the best way to leverage these relationships to help his own business
succeed:
A. Gaining inside marketing information
B. Persistently asking those business owners to invest in his company
C. Attending trade shows and conferences to make new connections
D. Sharing those businesses' content on social media - correct answer ✔✔Sharing those businesses'
content on social media
Which of the following is a global trend that might encourage an entrepreneur to consider international
business opportunities:
A. Higher allowances
B. Lower tariffs
C. Enforceable trade agreements
D. Flexible currency rates - correct answer ✔✔Lower tariffs
Evan does not want the legal obligation of repaying a loan and is willing to share profits with others.
Which of the following options is Evan most likely to select to fund a new venture:
A. Private equity
B. Collateral savings
C. Trade credit
D. Community bank - correct answer ✔✔Private equity
Because the MBC Company has one location that services the eastern part of the country and another
location that services the western part of the country, the company's work flow is organized by
A. relationship.
B. work teams.
