Question 1

Micropreneurs are exempt from the local ordinances that restrict home-based businesses from operating in residential areas.

Accepted Answer

A) True 
 B)False

Question 2

All of the following are reasons given for the growth of home-based businesses  except  the:

Accepted Answer

A)  improvement in job security for employees of large corporations.
B)  computer technology.
C)  favourable shift in social attitudes toward home-based business owners.
D)  desire of micropreneurs to balance work and family.E) None of the above
F) B) and C)

Question 3

Entrepreneurs are motivated by the desire to earn a profit.

Accepted Answer

A) True 
 B)False

Question 4

All of the following are characteristics of successful entrepreneurs  except :

Accepted Answer

A)  willingness and desire to follow others.
B)  action-oriented.
C)  tolerant of uncertainty.
D)  self-disciplined.E) All of the above
F) C) and D)

Question 5

Venture capitalists provide funds for startup businesses in exchange for part ownership in the new firm.

Accepted Answer

A) True 
 B)False

Question 6

Micropreneurs is a term used to describe entrepreneurs who focus on the continued growth of their businesses.

Accepted Answer

A) True 
 B)False

Question 7

The management of charities,government agencies,and schools is ________the management of a business.

Accepted Answer

A)  much the same as
B)  better organized than
C)  less well defined than
D)  much different thanE) C) and D)
F) None of the above

Question 8

An examination of the reasons given by people willing to accept the risks of entrepreneurship indicates that:

Accepted Answer

A)  the desire to earn a profit is the only reason most people have for becoming entrepreneurs.
B)  the strongest motivator is the desire to be famous and powerful.
C)  contrary to popular opinion,most entrepreneurs are not interested in personal achievement.
D)  many people become entrepreneurs because they do not enjoy working for someone else.E) None of the above
F) B) and D)

Question 9

The Canadian government views entrepreneurship as a result of an individual's
self-motivation.The government,therefore,can do very little to encourage an individual to become an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 10

Almost 14 percent of small businesses are solely owned by females.

Accepted Answer

A) True 
 B)False

Question 11

Small businesses have not significantly participated in web-based online sales.

Accepted Answer

A) True 
 B)False

Question 12

Entrepreneurs in Canada have:

Accepted Answer

A)  played an important role,but are less important now in creating jobs and wealth.
B)  often created wealth for themselves,but have had a minor impact on the economy as a whole.
C)  been successful only when they worked in partnership with the federal government.
D)  played a major role in developing the Canadian economy.E) All of the above
F) A) and B)

Question 13

Many small businesses in Canada avoid trading internationally because they don't know how to get started.What are some of the other primary reasons?

Accepted Answer

Financing,culture,bu...

Question 14

Which of the following would an experienced business owner offer to help someone who is thinking about starting a business venture?

Accepted Answer

A)  Avoid the temptation of buying an existing firm.Build your own reputation and make your mistakes.
B)  Gain experience by working for a successful businessperson.
C)  Jump in quickly,before the market conditions change and opportunities are lost.
D)  Postpone consulting with an accountant or lawyer until you can afford their services.E) B) and C)
F) A) and D)

Question 15

Chris is an angel investor.This indicates that she:

Accepted Answer

A)  creates business incubators for startup Web-based firms.
B)  provides assistance for struggling entrepreneurs.
C)  invests her own money in new businesses before they sell stock publicly.
D)  is involved in providing startup money for new churches and other nonprofits.E) None of the above
F) All of the above

Question 16

The personal character of an entrepreneur is irrelevant to bankers when determining the credit worthiness of a business loan.

Accepted Answer

A) True 
 B)False

Question 17

Ketan is an intrapreneur for a multinational electronics company.As an intrapreneur Ketan:

Accepted Answer

A)  will use the firm's existing resources to develop new products.
B)  will concentrate on creating new ventures that can be spun off to become independent firms.
C)  is expected to recruit new managerial talent for his firm.
D)  is concerned mainly with improving the firm's public image.E) B) and C)
F) None of the above

Question 18

In discussions with bankers,entrepreneurs should be prepared to personally guarantee the loan for their business.

Accepted Answer

A) True 
 B)False

Question 19

Most entrepreneurs are more interested in personal achievement than in organizational power.

Accepted Answer

A) True 
 B)False

Question 20

As with any form of business,there are some challenges associated with a family business.

Accepted Answer

A) True 
 B)False

Exam 7: Entrepreneurship and Starting a Small Business

Which of the following would an experienced business owner offer to help someone who is thinking about starting a business venture?

Correct AnswerverifiedShow Answer

Entrepreneurs in Canada have:

Correct AnswerverifiedShow Answer

An examination of the reasons given by people willing to accept the risks of entrepreneurship indicates that:

Correct AnswerverifiedShow Answer

Micropreneurs are exempt from the local ordinances that restrict home-based businesses from operating in residential areas.

Correct AnswerverifiedShow Answer

Many small businesses in Canada avoid trading internationally because they don't know how to get started.What are some of the other primary reasons?

Correct AnswerverifiedFinancing,culture,bu...View AnswerShow Answer

The management of charities,government agencies,and schools is ________the management of a business.

Correct AnswerverifiedShow Answer

All of the following are characteristics of successful entrepreneurs except :

Correct AnswerverifiedShow Answer

In discussions with bankers,entrepreneurs should be prepared to personally guarantee the loan for their business.

Correct AnswerverifiedShow Answer

Micropreneurs is a term used to describe entrepreneurs who focus on the continued growth of their businesses.

Correct AnswerverifiedShow Answer

All of the following are reasons given for the growth of home-based businesses except the:

Correct AnswerverifiedShow Answer

Most entrepreneurs are more interested in personal achievement than in organizational power.

Correct AnswerverifiedShow Answer

Ketan is an intrapreneur for a multinational electronics company.As an intrapreneur Ketan:

Correct AnswerverifiedShow Answer

The Canadian government views entrepreneurship as a result of an individual's self-motivation.The government,therefore,can do very little to encourage an individual to become an entrepreneur.

Correct AnswerverifiedShow Answer

The personal character of an entrepreneur is irrelevant to bankers when determining the credit worthiness of a business loan.

Correct AnswerverifiedShow Answer

Almost 14 percent of small businesses are solely owned by females.

Correct AnswerverifiedShow Answer

As with any form of business,there are some challenges associated with a family business.

Correct AnswerverifiedShow Answer

Small businesses have not significantly participated in web-based online sales.

Correct AnswerverifiedShow Answer

Entrepreneurs are motivated by the desire to earn a profit.

Correct AnswerverifiedShow Answer

Venture capitalists provide funds for startup businesses in exchange for part ownership in the new firm.

Correct AnswerverifiedShow Answer

Chris is an angel investor.This indicates that she:

Correct AnswerverifiedShow Answer

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Financing,culture,bu...
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