AAMI SMALL BUSINESS MANAGEMENT FINAL
QUESTIONS
True - Answer -T or F - Three primary rewards of entrepreneurship are thought to be
profit, independence, and personal fulfillment.
False - Answer -T or F - Some estimate that entrepreneurs are four times less likely to
be millionaires than are those who work for others.
False - Answer -T of F - A refugee is a person who tried entrepreneurship, failed, and
sought
refuge in corporate employment.
True - Answer -T or F - Entrepreneurial teams are formed by bringing together two or
more persons who together function as entrepreneurs.
True - Answer -T or F - A large percentage of small business owners cite their desire to
be their own boss as
the main reason they left their previous employers.
False - Answer -T or F - Small firms are at a great disadvantage when it comes to
competing based on
customer service.
False - Answer -T or F - The ideal age for starting a business appears to be between
40 and 50.
False - Answer -T or F - Unexpectedly stumbling across a business opportunity would
not be considered a precipitating event.
An owner-manager who bought out the founder of a firm - Answer -Which of the
following is classified as an entrepreneur?
have more than 100 employees. - Answer -The size standard for small business used
in this course would exclude firms that
is launching his venture into small business entrepreneurship. - Answer -When a 32-
year-old funeral director launches a funeral firm after seven years' experience in that
industry, he
Getting laid off by General Motors. - Answer -Which of the following situations might be
a precipitating event?
, entrepreneurial legacy - Answer -An entrepreneur's concern that his values continued
to be reflected in
the ways in which his firm conducts business after he retires is an
example of the concept of ________.
False - Answer -T or F - Small businesses that practice skimming of income are acting
ethically and legally.
False - Answer -T or F - Temptations and pressures to act unethically are thought to be
greater
in big business than in small business.
True - Answer -T or F - Small firm owners may be tempted to rationalize bribery or
other unethical behavior as
a way of offsetting what seems to be a competitive disadvantage.
False - Answer -T or F - Better Business Bureaus serve primarily as assistants to
district attorneys, helping expose corrupt business practices.
False - Answer -T or F - Only large corporations can afford to be socially responsible.
True - Answer -T or F - The goodwill gained from benefiting the community may be
worth more than it costs.
Skimming - Answer -The Deep Pockets family was charged by the IRS with income tax
fraud for failing to record the cash they collected for funeral items such as register
books and acknowledgement cards. This illegal
practice is known as _______.
the personal integrity of the founder or owner. - Answer -In a small business, the most
important key to ethical performance is
lure customers with the intention of selling them a different
product. - Answer -Bait advertising attempts to:
Eliminate undesirable processing odors. - Answer -An owner of a crematory has
returned from a seminar on environmentalism and wishes to act responsibly in this area.
Which of the following actions will accomplish this purpose?
Funeral - Answer -An example of an industry especially vulnerable to efforts to protect
the environment as it relates to waste discharge is the _____ industry.
It oulines the approaches other entrepreneurs have taken in the same industry. -
Answer -Which of the following is not one of the basic objectives of the
business plan?
QUESTIONS
True - Answer -T or F - Three primary rewards of entrepreneurship are thought to be
profit, independence, and personal fulfillment.
False - Answer -T or F - Some estimate that entrepreneurs are four times less likely to
be millionaires than are those who work for others.
False - Answer -T of F - A refugee is a person who tried entrepreneurship, failed, and
sought
refuge in corporate employment.
True - Answer -T or F - Entrepreneurial teams are formed by bringing together two or
more persons who together function as entrepreneurs.
True - Answer -T or F - A large percentage of small business owners cite their desire to
be their own boss as
the main reason they left their previous employers.
False - Answer -T or F - Small firms are at a great disadvantage when it comes to
competing based on
customer service.
False - Answer -T or F - The ideal age for starting a business appears to be between
40 and 50.
False - Answer -T or F - Unexpectedly stumbling across a business opportunity would
not be considered a precipitating event.
An owner-manager who bought out the founder of a firm - Answer -Which of the
following is classified as an entrepreneur?
have more than 100 employees. - Answer -The size standard for small business used
in this course would exclude firms that
is launching his venture into small business entrepreneurship. - Answer -When a 32-
year-old funeral director launches a funeral firm after seven years' experience in that
industry, he
Getting laid off by General Motors. - Answer -Which of the following situations might be
a precipitating event?
, entrepreneurial legacy - Answer -An entrepreneur's concern that his values continued
to be reflected in
the ways in which his firm conducts business after he retires is an
example of the concept of ________.
False - Answer -T or F - Small businesses that practice skimming of income are acting
ethically and legally.
False - Answer -T or F - Temptations and pressures to act unethically are thought to be
greater
in big business than in small business.
True - Answer -T or F - Small firm owners may be tempted to rationalize bribery or
other unethical behavior as
a way of offsetting what seems to be a competitive disadvantage.
False - Answer -T or F - Better Business Bureaus serve primarily as assistants to
district attorneys, helping expose corrupt business practices.
False - Answer -T or F - Only large corporations can afford to be socially responsible.
True - Answer -T or F - The goodwill gained from benefiting the community may be
worth more than it costs.
Skimming - Answer -The Deep Pockets family was charged by the IRS with income tax
fraud for failing to record the cash they collected for funeral items such as register
books and acknowledgement cards. This illegal
practice is known as _______.
the personal integrity of the founder or owner. - Answer -In a small business, the most
important key to ethical performance is
lure customers with the intention of selling them a different
product. - Answer -Bait advertising attempts to:
Eliminate undesirable processing odors. - Answer -An owner of a crematory has
returned from a seminar on environmentalism and wishes to act responsibly in this area.
Which of the following actions will accomplish this purpose?
Funeral - Answer -An example of an industry especially vulnerable to efforts to protect
the environment as it relates to waste discharge is the _____ industry.
It oulines the approaches other entrepreneurs have taken in the same industry. -
Answer -Which of the following is not one of the basic objectives of the
business plan?
