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In buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be the most appropriate question to ask?


A) How are you going to use the money you receive for the business?
B) Are any of the employees creating problems?
C) Who loaned you the initial investment?
D) Are there any problems with the business?

Correct Answer

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How are export management companies characterized?


A) They handle all aspects of exporting, for a percentage fee of the business.
B) They form joint ventures with small exporting businesses.
C) They work on flat fees per month.
D) They do only consulting work.

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List the three categories of entrepreneurs.

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classic entrepreneur...

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List reasons that small businesses thrive in Canada.

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(1) Independence and the opportunity for...

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What does the hopeful entrepreneur do once he or she has finished the business plan?

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Which of the following two forms of business financing describe borrowed funds and ownership funds, respectively?


A) debt; equity
B) credit; leverage
C) equity; debt
D) equity; leverage

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Which of the following describes the trend in entrepreneurship in recent years?


A) The number of people starting businesses has remained the same.
B) The number of people starting businesses has increased.
C) The number of people starting businesses has slowed.
D) The number of people starting businesses has decreased.

Correct Answer

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Which of the following is at the core of most business failures?


A) too much inventory
B) poor cash flow
C) low interest rate
D) inadequate planning

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According to Industry Canada small businesses employ what percentage of the workforce?


A) 33
B) 40
C) 48
D) 61

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Which of the following best describes venture capital?


A) It includes all the money the owner of the business invests in his or her new enterprise.
B) It is financing obtained from investment companies that specialize in financing small, high-growth companies.
C) It is another name for the principal that a business borrows from a bank.
D) It is borrowed money invested in start-up businesses and provided by the Business Development Bank of Canada.

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Which of the following is a one-to-three page summary of the business plan?


A) executive summary
B) corporate summary
C) shareholders summary
D) directors summary

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When buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be an inappropriate question to ask?


A) Why are you selling?
B) Are there any problems with the business?
C) Is the business operating at a profit?
D) What are you going to do with the down payment?

Correct Answer

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Which of the following is NOT a common cause of most business failures?


A) economic factors
B) financial causes
C) personnel problems
D) owner's lack of experience

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What does the Business Development Bank of Canada offer?


A) the elimination of sales and employee taxation for the first three years of operation
B) employee recruiting, hiring, and firing
C) bank loans
D) entrepreneurial ideas

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Which of the following are entrepreneurs who start a series of companies?


A) multiventurists
B) multifaceted venturists
C) multipreneurs
D) intrapreneurs

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How are baby boomers expected to affect the economy in the future?


A) They will have no noticeable effect.
B) They will spend money to make their lives more comfortable.
C) They will create a drag on the economy.
D) They will spend less and contribute to an economic decline.

Correct Answer

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One way for the owner of a small business to keep in touch with all aspects of the business is to have a solid business plan.

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What are the two types of financing available to entrepreneurs?

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equity and...

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Entrepreneurs are less likely to accept the status quo and generally take a longer-term view than small-business owners.

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Jeff Arnold and Reggie Bradford created WebMD, an Internet provider of health care information. Early in the development of this high-growth company, Arnold and Bradford attracted a group of investors who provided them with money needed to acquire other Internet companies with similar missions. What is the investment group called?


A) angel investors
B) entrepreneurial capitalists
C) equity entrepreneurs
D) investment counsellors

Correct Answer

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Showing 101 - 120 of 137

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