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
-Product
-Participation
-Promotion
-Price
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
-Break-even
-Bootstrapping
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