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Exam 7: Entrepreneurship and Starting a Small Business

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Question 101

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As an employee of a small business,DeMonte has observed the owner's desire to retire.Since DeMonte would like to buy the business,he needs to determine how much the business is worth.In order to determine a fair price for the business,DeMonte should add up the market value of all of the firm's physical assets such as buildings,machinery,equipment,and inventory.

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B) False

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Question 102

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Venture capitalists provide funds for small businesses as part of their philanthropy programs.

A) True
B) False

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Question 103

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The management of a nonprofit organization is much the same as the management of small and large businesses.

Entrepreneurship is another name for management.

Large multinational firms dominate the international market,leaving few opportunities for small businesses.

Which of the following helps explain the growth of home-based businesses?

Bankers and investors require entrepreneurs to present a well-conceived business plan.

Small business owners often struggle in attracting qualified workers.Which of the following does not contribute to this problem? Small firms offer:

Entrepreneurs are less important now than in the past to the Canadian economy.

Micropreneurs are motivated by a desire to have both a satisfying family life and rewarding work.

A Small Business Management course at a community college may offer entrepreneurs an opportunity to:

Carlos hopes to start his own business.He needs to avoid talking to other small business owners about his plans because they might steal his ideas.

All of the following are important to creditors as they consider making a small-business loan except:

From a competitive standpoint,small businesses cannot expect to successfully compete with large corporations in international markets.

Small business employs 48 percent of the total private labour force.

The principles of managing vary according to the size of the business.

Medium-sized businesses have between 50-499 employees.

All of the following are elements of a small business definition except that these firms:

To be classified as a small business,a firm must have no more than 100 employees.

Business incubators provide assistance to established companies attempting to generate foreign sales.