Entrepreneurship & Small Businesses

a business that fails to protect its employees from unnecessary risk or health hazards on the job may be sued for.

negligence

What requirement of legally enforceable contract requires that both of the parties who are entering into contract are sane sober and of legal age

capacity

the owner receives all of the profit of the business and can act quickly in making business decisions when a form of business ownership is a….

sole proprietorship

Which of the following is the type of tax that business are required to collect from customers when they purchase certain goods or services.

sales tax,

Which of the following is a condition that must exist for channels to be effective:

They must be properly managed.

Which of the following is a marketing function that can be performed by channel intermediaries.

Promoting products.

A manufacturer of dish washing soap has just invented a new type of soap that cleans better. The manufacturer should choose to distribute the soap through __ distribution.

Intensive.

What type of information does a well-written proposal include?

Specific benefits.

Every customer is greeted by a friendly employee, and s/he is given snacks and drinks while s/he waits for the repairs to be completed. The

great customer service that people can expect from Patricia's business is considered her

Brand promise.

Financial loss from investing time and money to comply with accounting standards is an example of which strategic risk:

Regulatory and political issues.

The government's mandating the use of unleaded gas in new cars is an example of

Protecting the environment.

What type of business usually experiences economies of scale due to expanded operations?

Large manufacturing plant.

Business people who respect the unique customs and habits of their foreign customers are exhibiting

Cultural sensitivity.

. "Yes, you'll save money instantly" is an example of a statement with

Persuasive words.

Which of the following is a characteristic of a self confident leader:

S/He is decisive, even in uncertain circumstances. .

Why is it important for team members to feel a sense of "ownership" and engagement in the vision?

It's the only way they will become committed to it.

Which of the following statements is true regarding stakeholder expectations:

Each group of stakeholders has different needs and expectations.

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:

Sharing those businesses' content on social media.

Hazel started her own childcare network where she connects families to available babysitters at her

school. Hazel could be described as a(n)

Entrepreneur.

An entrepreneurial business owner must

Have an adventurous spirit.

What is one reason that it is easier than ever for small businesses to engage in international trade?

Technological advances.

Which of the following is a global trend that might encourage an entrepreneur to consider international

business opportunities:

Lower tariffs

Mara is facilitating a group brainstorming session to generate new product ideas for the company. Which

of the following attitudes is important for Mara to demonstrate?

Neutral.

Landon wants to start a home-based T-shirt printing business. Which of the following are the most critical

equipment and supplies that Landon will need to get his business up and running?

T-shirts, printing machine, and artwork.

A small-business owner might register for trademark protection for the company's

Logo.

We know we are being treatedfairly when we

Are being treated the way we deserve to be treated.

If you cannot take the blame for your mistakes, then

you cannot take the credit for your successes.

It is considered unethical for an employee to spread malicious gossip about a coworker because the gossip may

damage the person's reputation.

Alicia is trying to persuade members of her work team to implement a new process. Because Alicia used this process with her former employer, she is very knowledgeable and knows what needs to be done to make a smooth transition. The work team is likely to go along with the change because Alicia has

Established personal credibility. Credibility is believably.

Often, people can creatively resolve a conflict by

Brainstorming

Zane is feeling overwhelmed about his stressful job. Which action should he take to manage his stress?

Talk through the situation with a friend or coworker

Once a coach has helped a coachee establish an improvement plan, it is important for the coach to

Track the coachee's progress

One benefit of assessing the long-term value and impact of your actions on others is helping you to act

More ethically.

Following your teacher's guidelines is an example of which ethical principle?

rule of law

Cornell wants to start his own business, but he isn't exactly sure what product or service he wants to pursue at the moment. The first step of the entrepreneurial process that Cornell should focus on is

Idea generation.

in an ancient society, townspeople used cows to pay for the things they needed. The cows are an example of __ money.

commodity

Saving money helps you achieve goals, while investing money helps you achieve goals

Short-term; long-term.

Morgan received an email that claimed to be from her credit card company. The email said that her account would be cancelled immediately if she didn't follow a link and enter her credit card and social security numbers. After Morgan did so, she found out that the email wasn't actually from her credit card company. Instead, it was a scam designed to steal her personal information. Morgan was a victim of

Phishing.

The biggest risk to a real estate investment is

depreciation

When John was injured in an auto accident on his way to work, what kind of insurance paid his hospital bill?

health

Finemart's bookkeeper journalizes the business's income and expenditures at the time they occur even if no money changes hands at that time. Finemart uses the __ accounting method to record transactions.

Accrual.

Why do some governments require businesses to use specific accounting methods?

To provide external sources with accurate financial information.

Which of the following is an example of an employee-assistance program:

Career and education planning.

Businesses that obtain information about competitors with the use of questionable techniques, even though these techniques are legal, are often behaving

Unethically

Which situation is an example of SUGGING?

A marketer tells a customer that s/he is conducting research, and then begins a sales pitch

"selling under the guise of research."

A marketing-research project that gathers sufficient information to help the business in its decision-making would be described as

thorough

Which of the following is a true statement about qualitative research:

It is conducted during a short timeframe.

Which of the following is determined in a research project's master plan:

How much data to collect

Which probability design allows marketers to study distinct groups within the target population?

Stratified random sampling

What type of marketing data can a business obtain by reviewing its inventory reports and customers' invoices?

Customers' product preferences

Listing the number of respondents who answered "agree," "no opinion," or "disagree" to each question on a marketing questionnaire is an example of

tabulation

Interviewers cause marketing-research errors when they

Express a biased attitude when asking questions.

The belief that profitable sales volume will result from giving customers quality products at fair and reasonable prices is part of the

marketing concept

When a local athletic apparel store sells shoes, clothing, and accessories that are designed specifically

for runners, it is using segmentation.

psychographic

Which of the following is a question that a business should answer about its target market while

conducting a situational analysis:

What are our customers buying?

Which of the following factors affects how far ahead a business needs to predict its sales:

THE BUSINESS'S RESOURCES

Your web search results contain URLs from a variety of sources. Which of the following sources should

provide the most reliable data:

A government agency.

Thomas wants to change the word "develop" to the word "create" in several places throughout his

document. The quickest way to make these changes is by using the __ function.

Find and replace.

Which of the following is needed to post a web page:

web server

Analyzing data with Simpson's Paradox in mind can help account for

Unconsidered variables or dimensions

Businesses can use data mining to

See patterns within data.

A growing trend that is influencing the way that many companies do business is the concern for

protecting the environment

Statistical data revealed that Zane Industries sold 32% more of the Model EQ2 desktop photocopier last

year after it made changes to increase the photocopier's speed and refine its print quality. In this

situation, the statistical findings helped the company determine that

Product improvements helped boost sales.

A company trains its human resources department in how to handle emergency situations. Is this an

example of operations management?

Yes, because it involves the operational aspects of safety and security

Which of the following situations is an example of a hazard that affects the safety of the workplace:

Boxes stacked in front of a fire exit.

Which of the following situations may represent a risk to the business:

A new customer's check is for an amount larger than the purchase total.

What do managers often use to evaluate project results?

standards

A materials and notions buyer who purchases more zippers and buttons from a supplier to replace depleted inventory is placing a

Reorder.

Stan is a small-business owner who is always looking for ways to increase his company's ability to do the

job right the first time. He listens to his staff members' suggestions and implements many of their ideas

for improvement. What is Stan doing?

Creating a quality culture.

Which of the following is one of the biggest expenses that employees can help a business control:

Payroll.

Cathy is allowing her four friends to pick out a skirt for her at the mall—with one request: that all four

friends agree about the selection. Which style of decision-making is Cathy asking her friends to use?

Maximum.

Why do we need creativity?

It moves the world along

If individuals enjoy operating machinery, driving vehicles, or using tools, they might consider a career that

involves working with

things

Javier had an interview with a potential employer, Dan Martinez. The interview was pretty casual and

informal. How should Javier begin his thank you note?

Dear Mr. Martinez.

Which of the following provides a business's employees with a foundation for acceptable behavior in the

workplace:

Rules of conduct.

The ability for marketers to think fast on their feet is most associated with

Decision-making.

The price function often influences the place function by determining

Where the product is sold

In which of the following situations might loss-leader pricing be illegal:

Products are sold below cost.

In product/service management, a major disadvantage of rapid technological changes is the

Rate at which existing products become obsolete.