Most start-up firms are funded by:

– Group of answer choices

– Institutional lenders

– Commercial banks

– SBA loans

– Entrepreneurs own capital

2. Do not try to find a business by:

-Group of answer choices

-Advertising your needs in a trade journal

-Knocking on doors

-Checking Dunn and Bradstreet

-Asking your network

3. A franchisee has yearly sales revenue of $420,000, and a net profit of $150,000. If the royalty fee is 5%, how much does the franchisee owe in fees?

Group of answer choices

– $7,500

– $21,000

– $42,000

– $15,000

4. The appendix of the business plan contains all except:

Group of answer choices

– Reprints of current articles about the industry

– Supporting data that is too cumbersome to include in the plan itself

– Photographs and maps

– Worst-case analysis of the pro forma

5. Purchasing a business does not require the expertise of:

Group of answer choices

– Attorneys

– Brokers

– Appraisers

– IRS agents

6. The most important thing for a new business to do is:

Group of answer choices

-Make their location attractive and visible

-Conserve cash

-Add employees that enhance customer service

-Purchase their own equipment

7. When describing your marketing strategies using the four P’s it is generally best to start with

Group of answer choices





8. All of the following are exclusive rights encompassed by a copyright except:

Group of answer choices

-The right to publicly perform certain works

-The right to reproduce the work

-The right to make derivative works

-The right to copy others

9. Which of the following is NOT important to success in exporting?

Group of answer choices

-Ability to speak & write more than one language

-Follower of global politics

-Strong negotiating skills

-Current business ownership

10. The measure at which your cash balance is going down while waiting for profitability is:

Group of answer choices

-Burn rate

-Working capital



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