60 questions
Bootstrapping can be defined as 'A situation in which an entrepreneur starts a company with little capital. This occurs when they attempt to build a company from personal finances or from the operating revenues of the new company'.
True
False
Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.
True
False
Angel investors give more favorable terms than other lenders, as they are usually investing in the person rather than the viability of the business. They are focused on helping the business succeed, rather than reaping a huge profit from their investment.
True
False
Successful entrepreneurs have mindsets that typically possess which THREE characteristics?
Argumentative
Adaptable
Responsible
Tenacious
Nervous
An investor gives free money to small business owners to help with launching and development of their business. They do not have to be paid back.
True
False
Which funding option would provide free money to small business owners to help with launching and development of their business?
Small Business Administration (SBA) grants
Small Business Administration (SBA) loans
Angel Investor
Crowdfunding
Which of the following is a program that tells the computer how to use a specific device?
Browser plugin
Anti-virus software
Driver
Software
A keyboard shortcut is used when certain _____ are pressed together to accomplish a certain task.
buttons
keys
devices
words
Which options are available for paragraph alignment? (Choose three answers.)
Centered
Left
Even
Left Centered
Right
Which are two examples of direct distribution channels?
Retail Sales
Door-to-Door Sales
Wholesaler Sales
E-Commerce Sales
Which of the following are advantages of using a USB drive to store your files instead on in cloud storage? (Choose two)
A USB drive doesn't have a storage limit.
Your files are more secure.
A USB drive can hold more data.
You don't need an Internet connection to access files.
A triple-click of the mouse in a Word document will result in which action?
Select a single line.
Select the entire document.
Select a single word.
Select a single paragraph.
Which of the following are ways you can clear up storage space for your smartphone? (Choose 2).
Close all running background programs.
Delete old photos you don't need.
Stream videos in SD (Standard Definition).
Uninstall any games you don't play anymore.
Which TWO are benefits of using Angel investors to help start a business?
No need for collateral.
Angel investors typically do not expect to be paid until the business begins making money.
Angels do not share in the profits of the business.
Angels often accept a lower return on investment compared to other sources of equity capital.
Angels have no say in the management of the business.
Which Microsoft Word feature allows you to find and change instances of the same word throughout your entire document?
Replace
Redo
Spelling & Grammar
Undo
You operate a small insurance office with a partner. Which expense is a fixed cost?
Water bill for an office.
Paycheck for an hourly administrative assistant.
Property lease for the office.
Cost of paper supplies.
Indirect distribution channels use _____ to sell their products to end customers.
the Internet
door-to-door sales
middlemen
advertisements
Which option is responsible for what a device remembers?
Brain
Memory
Storage
Tower
What is the formula for determining a return on investment (ROI)?
ROI = (Net Profit / Cost of Investment) / 100
ROI = (Net Profit / Cost of Investment) x 100
ROI = (Net Profit - Cost of Investment) x 100
ROI = (Net Profit + Cost of Investment) x 100
Which of the following is an advantage of using a tablet over desktop computer?
It's more portable.
It can connect to wireless Internet.
It can run full versions of applications.
It has a better GPU (Graphics Processing Unit).
What are the two main types of distribution channels?
Direct
Indirect
Physical
Digital
Amazon
Which legal protection is used to protect a company's practices, process, or formulas from being shared with other competitors?
Trade Secret
Entrepreneurs
Copyright
Trademark
Patent
Which legal protection is used to protect creative works?
Trade Secret
Entrepreneurs
Copyright
Trademark
Patent
Who should legally protect their intellectual property?
Trade Secret
Entrepreneurs
Copyright
Trademark
Patent
Which type of legal protection is used to protect brand names, logos, and business names?
Trade Secret
Entrepreneurs
Copyright
Trademark
Patent
Which type of legal protection is used to protect an invention from being copied for a limited time?
Trade Secret
Entrepreneurs
Copyright
Trademark
Patent
Which business management role oversees the day-to-day administrative functions of a business; second in command?
COO
CIO
CEO
CFO
Which business management role creates budgets, analyzes financial data, and forecasts company profits?
COO
CIO
CEO
CFO
Which business management role is the highest-ranking employee in the company; reports to the board of directors?
COO
CIO
CEO
CFO
Which business management role develops policies and structures to protect company data?
COO
CIO
CEO
CFO
What is storage currently measured in? (Choose two answers)
Inches
Terahertz
Feet
Terabytes
Gigabytes
In the image above, which is highlighted?
Home button
Home ribbon
Home tile
Home menu
Variable costs _____ depending on production.
decrease
stay the same
fluctuate
increase
You own a mobile Taco Truck. You have a short list of competitors. Which are your Direct Competition? (Select two)
A local Burger King franchise
Walk-up Mexican Food stand
A local Taco Bell franchise
Mobile Fish and Chips truck
You are examining your year-end balance sheet. If you Total Assets = $17,000 and your Total Liabilities = $6,000, what is your equity in the business?
$6,000
$17,000
$23,000
$11,000
To use materials that have a copyright or a trademark, one must get permission. Which TWO things are they required to do before legally using the material?
Pay a licensing fee.
Become the copyright or trademark owner.
Sign a licensing agreement.
Sign a trade agreement.
In the Design Thinking Process, assumptions are challenged and ideas are created in the Ideate phase.
True
False
In the Design Thinking Process, building Prototypes is the final phase.
True
False
In the Design Thinking Process, problem statements are written in the Define phase.
True
False
In the Design Thinking Process, the Empathize phase tests solutions to users' problems.
True
False
You need to create a legal structure for your small business. You do not want to be taxed twice, you will have 4 partners, you do not plan to sell shares. Which legal structure is best?
Sole Proprietorship
Limited Liability Company
S-Corporation
C-Corporation
Which statement best describes opportunities in a SWOT analysis?
Areas in which a company is lacking.
Anything that poses a risk to a company's success and growth.
Things a company does well.
Anything that could increase sales and grow a company.
What is one big advantage of a tablet?
storage
power
portability
memory
Which compensation type provides a fixed payment amount for each pay period?
Equity
Commission
Hourly Pay
Piece Work
Salary
Which compensation type provides compensation for the number of units an employee produces?
Equity
Commission
Hourly Pay
Piece Work
Salary
Which compensation type provides non-cash compensation, including an investment vehicle, ownership in the company, restricted stocks, or shares?
Equity
Commission
Hourly Pay
Piece Work
Salary
Which compensation type provides a fee paid to an employee for completing a task?
Equity
Commission
Hourly Pay
Piece Work
Salary
Which compensation type provides payment for the hours an employee has worked?
Equity
Commission
Hourly Pay
Piece Work
Salary
What is the correct order for the stages of the business life cycle, from 1st through 5th stage?
Take-off, Existence, Success, Maturity, Survival of the Fittest
Existence, Survival of the Fittest, Success, Take-off, Maturity
Existence, Take-off, Survival of the Fittest, Success, Maturity
Existence, Success, Survival of the Fittest, Take-off, Maturity
Which corporation uses a double layer of taxation?
Sole Proprietorship
S Corporation
C Corporation
Limited Liability Company
Which of the icons on the Taskbar opens the Action Center?
Box A
Box B
Box C
Box D
Using a product once is an example of product/market fit.
True
False
What is Entrepreneurship?
Marketing and selling products.
Acquiring leadership and managerial skills.
Quickly advancing in positions within a corporation.
Setting up a business with the aim to make a profit.
What is a limitation of a tablet compared to a laptop computer?
No email access.
Cannot make video calls.
Some applications will not install on a tablet.
Cannot edit documents.
You downloaded several of your favorite songs and used them in an ad to promote your product. The ad was rejected because of the songs you chose. You are told that you violated Fair Use copyright. Which THREE factors are used to evaluate Fair Use copyright?
If it is for a teacher or student.
Copied from a work purchased by a friend.
Amount of work copied.
Effect of your use on the potential market of the work copied.
Purpose of your use.
Identify the TWO devices that are input devices.
Webcam
Scanner
Printer
Speakers
Where in the File Explorer window are the common drives and folders always located for quick navigation?
A
B
C
D
What is the difference between small businesses and entrepreneurs?
Entrepreneurs are not always interested in taking on new business opportunities.
Small business owners are more willing to take on unknown risks.
Small business owners are not always interested in taking on new business opportunities.
Entrepreneurs are focused on generating profits
Items which are cut and/or copied are kept on a digital _____ until something else is cut or copied.
Memory Bank
Clipboard
Box
Copy Machine
In the image above, which option in the Windows interface will access the same options that are found in the Mac menu bar?
A
B
C
D