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Exam 3: Entrepreneurship, New Ventures, and Business Ownership

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Question 1

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A group of small investors who invest money in companies with rapid growth potential is called a Small-Business Investment Company.

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Most experts recommend starting a business from scratch rather than buying an existing business.

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In a franchise,the franchisee is the seller or parent company.

A multinational corporation is a form of corporation spanning national boundaries.

________ are groups of small investors seeking to make profits on companies with rapid growth potential.

Most businesses in the U.S.are large businesses with more than 500 employees.

One growing trend has been that new businesses are started by people who have left big corporations and who want to put their experience to work.

Which of the following type of store is favored by small-business retailers?

A disadvantage of the corporate form of business ownership is lack of continuity.

How do attitudes about entrepreneurship vary internationally?

Small businesses produce 13 times as many patents per employee as large patenting firms.

Short Case Scenario 3-1 The Miller brothers (Jack, Bill, and Evan) are about to fulfill a life-long dream. They are buying a thousand-acre farm and plan to grow cotton. Seeking independence, they are not interested in bringing in any outside owners. They have obtained financing from the Farm Credit Bureau that will allow them to finance the purchase of the farm and some equipment. The brothers are realistic and expect to work very long hours. However, they have a few critical decisions left to make. -Assuming the farm is organized as a private corporation,what are the disadvantages?

The governing body of a corporation is its ________.

Which of the following industry groups is the fastest growing segment of small business enterprise?

The biggest potential drawback to the corporate form of ownership is ________.

Most venture capital companies do not lend money.

Which of the following is the most significant disadvantage of franchising?

An arrangement that permits the buyer to sell the product of the seller,or parent company,is called a ________.

The most common form of business organization is the corporation.

Each year,between 600,000 and 650,000 new businesses are launched in the United States.How many businesses fail each year?