ssss - sample test chapter 6 7 8 10 11 Student 1...

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sample test chapter 6 7 8 10 11 Student: ___________________________________________________________________________ 1. Entrepreneurship involves accepting the risk of starting and running a business. True False 2. Entrepreneurship is another name for management. True False 3. To be successful, entrepreneurs are dependent on the support of others for advice and encouragement. True False 4. Jon received a letter in the mail explaining that HE COULD EARN THOUSANDS!!!! by working just a few hours from home. Most likely Jon's letter was a work-at-home scam. True False 5. The United States 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. True False 6. Bad luck is the most often reported cause for small business failure. True False 7. Small businesses lack the resources to compete directly with big businesses. True False 8. Your brother, a family dentist, has opened a new office in your home town. As a business student you know that this type of business experiences both low failure and growth rates. True False 9. Identifying "poor management" as the cause of a small business failure likely includes poor capitalization. True False 10. The SBA may guarantee loans made by a financial institution and repay them if the borrowers stop making payments. True False 11. Small Business Investment Companies (SBICs) are privately owned companies licensed by the Small Business Administration to lend money to small businesses. True False 12. In order to better serve their customers, small business owners should avoid delegating authority to their employees. True False 13. The main job of managers today is to watch over people to be sure they do what the manager asks of them. True False 14. In most high tech industries, the best way to respond quickly to rapid technological changes is to keep most authority and responsibility in the hands of a few key managers who provide precise, detailed directions to the workers. True False 15. The management function that involves guiding, training, and motivating others to work toward the achievement of an organization's goals is called leading. True False
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16. Planning is the function of management that includes anticipating future trends and determining the best strategies and tactics to achieve an organization's goals and objectives. True False 17. In many smaller firms the manager's role is to direct the employees, telling them exactly what to do. True False 18. Financing is one of the four key functions of management. True False 19. The four key management functions are planning, organizing, leading, and controlling. True False
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This note was uploaded on 01/16/2012 for the course ECO 2010 taught by Professor Mahmoudi during the Spring '08 term at Wayne State University.

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ssss - sample test chapter 6 7 8 10 11 Student 1...

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