Post Test
Which of the following is classified as an entrepreneur? A manager in a large corporation A financial manager in a small firm An owner-manager who bought out the founder of a firm A salaried technician in a rapidly-growing high-tech firm
Compared to large corporations, small businesses
play just as important a part in the economy. attract more attention and make more headlines in the media. are not as important to the well-being of society. are highly visible.
One glaring example of poor ethics practiced by small businesses in general is
lack of pollution controls. untruthful labeling of products. lack of loyalty to employees. fraudulent reporting of income and expenses for income tax purposes.
Different types of small business ownership opportunities include all of the following except
startups. bailouts. family businesses. franchises.
The cost of a franchise may include
royalty payments. high executive salaries. a one-time federal franchise tax. higher-than-usual labor costs.
5 points
In a family business, the interests of the family and the interests of the business are best described as
overlapping. conflicting. coinciding. having no relationship with each other.
Writing a business plan should be thought of as
the means to an end product. an ongoing process. an absolute essential to the startup of businesses. a mental exercise.
A firm's marketing mix consists of _____ activities.
pricing, promotion, and distribution product, pricing, and promotion product, promotion, and distribution product, pricing, promotion, and distribution
A disadvantage of a sole proprietorship is
the complexity of the organization the cost of starting the business. the lack of limits on personal liability. the difficulty of distribution.
Which of the following is not an
Compared to large corporations, small businesses
play just as important a part in the economy. attract more attention and make more headlines in the media. are not as important to the well-being of society. are highly visible.
One glaring example of poor ethics practiced by small businesses in general is
lack of pollution controls. untruthful labeling of products. lack of loyalty to employees. fraudulent reporting of income and expenses for income tax purposes.
Different types of small business ownership opportunities include all of the following except
startups. bailouts. family businesses. franchises.
The cost of a franchise may include
royalty payments. high executive salaries. a one-time federal franchise tax. higher-than-usual labor costs.
5 points
In a family business, the interests of the family and the interests of the business are best described as
overlapping. conflicting. coinciding. having no relationship with each other.
Writing a business plan should be thought of as
the means to an end product. an ongoing process. an absolute essential to the startup of businesses. a mental exercise.
A firm's marketing mix consists of _____ activities.
pricing, promotion, and distribution product, pricing, and promotion product, promotion, and distribution product, pricing, promotion, and distribution
A disadvantage of a sole proprietorship is
the complexity of the organization the cost of starting the business. the lack of limits on personal liability. the difficulty of distribution.
Which of the following is not an