Test 2 - Question 6 1 out of 1 points If you run a you may...

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Question 1 1 out of 1 points A(n) ________ is someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it. Correct Answer: entrepreneur Question 2 1 out of 1 points A local bakery is acting as a ________ when it sells desserts to a restaurant. Correct Answer: wholesaler Question 3 1 out of 1 points The majority of Americans entered the business world by working for ________, which are constantly creating jobs and providing opportunities for a vast number of workers. Correct Answer: small businesses Question 4 1 out of 1 points According to the SBA, 55 percent of all product innovations come from ________. Correct Answer: small businesses Question 5 1 out of 1 points The monthly fee that a franchisee must pay to keep the company's trade name is called a(n) ________. Correct Answer: royalty fee
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Unformatted text preview: Question 6 1 out of 1 points If you run a ________, you may find that you must adhere to certain rules even if you disagree with some of them. Correct Answer: franchise Question 7 1 out of 1 points In her business plan, Shelia Pataki has included a two-page overview called the ________. Correct Answer: "Executive Summary" Question 8 1 out of 1 points The ________ section of the business plan describes the purpose of the proposed business its reason for existence. Correct Answer: "Mission Statement" Question 9 1 out of 1 points Accounting, finance, management, marketing, and production are the ________ areas of business. Correct Answer: functional Question 10 1 out of 1 points Because Green Thumb Landscapers buys goods from other firms and sells them to consumers, the company is a retailer. Correct Answer: True...
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This note was uploaded on 02/10/2011 for the course BUSINESS 100 taught by Professor Notsure during the Spring '07 term at Edmonds Community College.

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Test 2 - Question 6 1 out of 1 points If you run a you may...

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