Unit 2.09-2.13 H. Entrep. Review
Quiz by Belinda Pridgen
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21 questions
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- Q1Which is an operational issue that entrepreneurs must consider when planning their businesses?Direct competitorsTarget marketProduction processSource of financing30s
- Q2Which is a tool that an entrepreneur develops to project sales for a new business venture?Promotional budgetInventory reportMarketing objectivesSales forecast30s
- Q3An entrepreneur considers the location and financial needs of a business venture during which process?PlanningDistributionImplementationControlling30s
- Q4When planning for her new business, Janine allocates two percent of the estimated annual sales of her company to web and newspaper advertising. Janine is developing which document?A publicity planA promotional budgetA competitive analysisA sales report30s
- Q5In order for a business to generate a profit, its operating costs must be identified as which status to the gross margin?Less thanIdentical toEqual toGreater than30s
- Q6The costs of operating a business are often called which expenses?VariableMarkdownFixedOverhead30s
- Q7Variable expenses increase in direct proportion to the rate of which factor?MotivationProductionCompetitionAutomation30s
- Q8Which statement is true about business start-up requirements?Purchasing a franchise is usually easy and inexpensive for start-up business owners.Equipment is the least expensive requirement for a start-up business.A new business owner usually needs to register for patent protection.The financial needs to start a new business depend on the nature of the venture.30s
- Q9Many entrepreneurs encounter which situations of emotional risks?Marital tensions and family problemsInflation and slow market acceptanceUnemployment and uncertain incomeCompetition and difficult suppliers30s
- Q10One-time, start-up costs often include which fees?Website maintenanceIncorporationTrade associationShipping and postage30s
- Q11Costs of sales for a new manufacturing venture typically include which factors?Raw materials, equipment, and product inventoryInternet access, attorney fees, and sales lead listsTrade show attendance, raw materials, and equipmentTrade show attendance, product inventory, and internet access30s
- Q12Regan is deciding if she is willing to give up a secure position with a well-known company so she can start a home-based business. Which risk is Regan assessing?SocialCareerPhysicalFinancial30s
- Q13The primary purpose of a feasibility study is to answer which question?Is this Business Plan valid?What technology will be needed for this project?Should we proceed with this project?What are the opportunity costs of this project?30s
- Q14Ben is conducting a feasibility study for a new venture idea. Which question should Ben answer in terms of the financial considerations for the venture?How will the business obtain the money it needs?Is there a real demand for the idea, good, or service?How will the business communicate information about its products?What regulations is the business likely to encounter?30s
- Q15Which is a characteristic of a well-conducted feasibility study?SubjectiveCompleteGeneralAbbreviated30s