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- 1. Multiple ChoiceStarting and owning a person's own businesscorporationentrepreneurshipsole proprietorshippartnership
- 2. Multiple ChoiceSome people become entrepreneurs by turning part-time work experiences into full-time businesses.TrueFalse
- 3. Multiple ChoiceEntrepreneurs want to be their own bosses, set their own working hours, and make their own decisions.TrueFalse
- 4. Multiple ChoiceWhen setting the prices of goods or services, business owners must consider the prices charged by competitors.TrueFalse
- 5. Multiple Choice
Which is NOT a common characteristic of an entrepreneur?risk-takercreativeorganizedirresponsible - 6. Multiple ChoiceMost entrepreneurs work long hours, but they create their own schedule.TrueFalse
- 7. Multiple ChoiceALL entrepreneurs have a college degree.TrueFalse
- 8. Multiple Choice
Which is a characteristic of a successful entrepreneur?
Motivated
Takes very little risk
Passionate
Hard-working
- 9. Multiple Choice
A target market is
a group of investors willing to put capital into a business
a generational group of individuals
a group of consumers at which a product/service is aimed
an industry willing to sell and market your product
- 10. Multiple Choice
Entrepreneurs create ____________________ for themselves and others.
wealth
risk
plans
none of these
- 11. Multiple ChoiceWhich one of these is NOT a characteristic of an entrepreneur?risk takeridea persongeneralistspecialist
- 12. Multiple Choice
What is the purpose of a business plan? (hint: choose 2 correct answers)
To document your financial activity during one year
Legal document to be filed with the SEC
States the purpose and vision of your company
States the amount of capital you need to run the company
- 13. Multiple Choice
Why do you need a business plan? (hint: choose 3 correct answers)
To raise capital
Gets everyone involved to focus on the same goals
Gives an objective look at what you are doing and why
It is required by law
- 14. Multiple Choice
What information should NOT be included in a business plan?
Your financing needs
Your basic business concept
Your marketing plan
Your assets and liabilities
- 15. Multiple Choice
They’re able to not only come up with ingenious ideas, but also turn those ideas into profits.
Creative
Perseverance
Persistence
Self Confidence
- 16. Multiple ChoiceWhich of the following are characteristics of successful entrepreneurs?Creative, work hard, self-confidentGoal-oriented, will to work while others play, highly motivated to succeedStrong desire to have control, high energy levelsAll of the Answers
- 17. Multiple Choice
Which component of a business plan presents all the processes involved in producing and delivering products and services to customers?
Operational plan
Organizational plan
Marketing plan
Financial Plan
- 18. Multiple Choice
Which component of a business plan is brief description of the key points of each section of the business plan?
Executive Summary
Product/Service plan
Management Team plan
Industry/Market Analysis
- Answer choicesTagsAnswer choicesTags