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BUS 508 Week 3 Chapter 5 Practice Quiz

BUS 508 Week 3 Chapter 5 Practice Quiz

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BUS 508 Week 3 Chapter 5 Practice Quiz -

Question 1

The ________ is the principal government agency concerned with helping small U.S. firms.

Answer

  • Standard Review Board
  • Trade Commission
  • Small Business Administration
  • Recovery Session

 

Question 2

With more money to spend on employees, marketing, inventory, and other business costs, successful small companies need to be creative.

Answer

  • True
  • False

 

Question 3

Small businesses make tremendous contributions to the U.S. economy and to society as a whole.

Answer

  • True
  • False

 

Question 4

A ________ is an agreement in which one firm purchases another.

Answer

  • Merger
  • Acquisition
  • Distribution
  • Service

 

Question 5

A ________ is the firm whose products are sold to customers by the franchisee.

Answer

  • Franchisor
  • Broker
  • Investor
  • Reviewer

 

Question 6

A typical business plan includes all of the following sections, except:

Answer

  • Executive summary
  • Conclusion
  • Separate financial and marketing sections
  • Resumes of principals

 

Question 7

________ are owners of a corporation due to their purchase of stock in the corporation.

Answer

  • Shareholders
  • Corporate Executives
  • Stockholders
  • Stakeholders

 

Question 8

Recognizing the burden of regulation on small businesses, Congress sometimes exempts the smallest companies from certain regulations.

Answer

  • True
  • False

 

Question 9

One of the least common causes of small business failure is the shortcomings of management.

Answer

  • True
  • False

 

Question 10

One alternative to private ownership is some form of:

Answer

  • Collective ownership
  • Sole ownership
  • Business ownership
  • Public ownership

 

Question 11

Small business owners cite their struggle to comply with government regulations as one of the biggest challenges they face.

Answer

  • True
  • False

 

Question 12

Women, like men, have a variety of reasons for starting their own companies.

Answer

  • True
  • False

 

Question 13

Freedom from overhead costs such as leasing office or warehouse space is another major attraction of home-based businesses.

Answer

  • True
  • False

 

Question 14

Because government agencies offer benefits designed to help small businesses compete with larger firms, small-business owners want to determine whether their companies meet the standards for small-business designation.

Answer

  • True
  • False

 

Question 15

Every federal agency with buying authority must maintain an Office of Small and Disadvantaged Business Utilization to ensure that small businesses receive a reasonable portion of government procurement contracts.

Answer

  • True
  • False

 

Question 16

________ loans are available in only a few special situations, such as a natural disaster recovery and energy conservation or development programs.

Answer

  • Direct SBA
  • Indirect SBA
  • Specialized Assistance
  • Development

 

Question 17

Every federal agency with buying authority must maintain an ________ to ensure that small businesses receive a reasonable portion of government procurement contracts.

Answer

  • Small Business Investment Companies
  • Economic Development Loan
  • Office of Small and Disadvantaged Business Utilization
  • Microloans

 

Question 18

Money invested in a business by another business firm or group of individuals in exchange for an ownership share is called a ________.

Answer

  • Investor
  • Venture capital
  • Media
  • Share

 

Question 19

A ________ is a partnership between companies formed for a specific undertaking.

Answer

  • Capital venture
  • Group venture
  • Joint venture
  • Local venture

 

Question 20

The ________ provides information and assistance in business planning, licenses and registrations, taxes, and employment considerations.

Answer

  • Small Business Training Network
  • Thurston County EDC
  • Office of Small and Disadvantage Business Utilization
  • Small Business Investment Companies

 

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