CH 7 TEST - Started on Sunday, November 15, 2009, 08:56 PM...

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Started on Sunday, November 15, 2009, 08:56 PM Completed on Sunday, November 15, 2009, 09:06 PM Time taken 10 mins 13 secs Marks 27/30 Grade 45 out of a maximum of 50 ( 90 %) Question 1 Marks: 1 In a business plan, a commercial lender would expect to find Choose one answer. a. a description of the business, the appendix, and list of references. b. a description of the business, competitive analysis, operating procedures, and financial data. c. a description of product offered, description of relationship with suppliers, operating procedures, and description of needs in the community. d. a community market survey, description of the business, and operating procedures. Correct Marks for this submission: 1/1. Question 2 Marks: 1 Entrepreneurs with a strong internal locus of control tend to Choose one answer. a. be unwilling to accept personal responsibility for their actions. b. have trouble learning from past mistakes. c. put too much faith in the ability of others within their business. d. feel that the success or failure of their companies are largely the result of their own actions and decisions. Correct Marks for this submission: 1/1. Question 3 Marks: 1 A venture capitalist firm is most likely to be interested in investing in a Choose one answer. a. big, well-established corporation that has fallen on hard times. b. large, successful corporation that has several divisions that can be spun off to earn a quick profit. c. small new company with the potential for rapid growth. d. small new company in a mature sector of the economy with the potential for slow but steady long-term growth. Correct Marks for this submission: 1/1. Question 4 Marks: 1 Which of the following individuals is LEAST likely to become an entrepreneur? Choose one answer. a. A person with vision and a high-energy level. b. A person who sees the world in shades of gray and seeks to find ways to use
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uncertainty to his or her advantage. c. A confident person with an internal locus of control. d. A person who values a stable, predictable income. Incorrect Marks for this submission: 0/1. Question 5 Marks: 1 Entrepreneurs must understand that no conventional lender, whether private or public, will Choose one answer. a. loan 100 percent of the start-up funding. b. give money to any business. c. work with venture capitalists. d. know angel investors. Correct Marks for this submission: 1/1. Question 6 Marks: 1 Burger King, McDonalds, Wendy’s, and Hardee’s are all examples of Choose one answer. a. business franchising. b. limited liability companies. c. small business. d. health issues. Correct Marks for this submission: 1/1. Question 7 Marks: 1 Which organization would be most likely to help you develop a business plan? Choose one answer.
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