BUS 508 CHAPTER 6 WEEK 3 QUIZ (A+++++ ANSWER) - 92728

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Question 1 Some entrepreneurs do not find creative ways to obtain equity financing. Answer True False Question 2 The freedom to make all the decisions—being your own boss—is one of the biggest lures of entrepreneurship. Answer True False Question 3 Growth in entrepreneurship is not a worldwide phenomenon. Answer True False Question 4 Bill Gates and Paul Allen launched ________ with the vision of a computer on every desk and in every home, all running software. Answer Apple Google Yahoo Microsoft Question 5 Dealing with unexpected events is not the norm for most entrepreneurs. Answer True False Question 7 ________ has further transformed the business environment for entrepreneurs. Answer Project management Social networking Commercials Entrepreneurship Question 8 An ________ is a risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Answer Consumer Entrepreneur Executive Employee Question 9 Growth in entrepreneurship is not a worldwide phenomenon. Answer True False Question 10 Even entrepreneurs who have not previously received funding from banks have experienced a credit crunch in recent years. Answer True False Question 11 To secure ________, entrepreneurs exchange a share of ownership in their company for money supplied by one or more investors. Answer Equity financing Quality financing Open financing Closed financing Question 12 ________ are wealthy individuals who invest money directly in new ventures in exchange for equity, are a larger source of investment capital for start-up firms. Answer Logical investors Angel investors Small investors Cooperative investors Question 13 The following can be classified as the different types of entrepreneurs, except: Answer Class entrepreneurs Serial entrepreneurs Social entrepreneurs Basic entrepreneurs Question 14 ________ are employees who direct the efforts of others to achieve an organization’s goals. Answer Customers Managers Owners Partnerships Question 15 Demographic trends—including the aging of the U.S. population, the growth of ethnic groups, and the predominance of two-income families—create opportunities for entrepreneurs. Answer True False Question 16 A ________ project is initiated by an employee who conceives an idea, convinces top management of its potential, and then recruits human and other resources from within the company to turn the idea into a commercial project. Answer Skunkworks Cooperative Open market Innovation Question 17 ________ seems to be the key to business start-ups, especially in rapidly changing markets. Answer Competitiveness Flexibility Financing Capital Question 18 Entrepreneurs have an internal locus of control, which means they believe that they control their own destinies. Answer True False Question 19 Many Boomers also plan to work after retirement from traditional jobs or careers, either because they want to or in order to boost income and savings. Answer True False Question 20 Like buying an established business, buying a franchise offers a less risky way to begin a business than starting an entirely new firm. Answer True False
Solution Description

Question 1

 Some entrepreneurs do not find creative ways to obtain equity financing.

Answer

True

False

Question 2

 The freedom to make all the decisions—being your own boss—is one of the biggest lures of entrepreneurship.

Answer

True

False

Question 3

 Growth in entrepreneurship is not a worldwide phenomenon.

Answer

True

False

Question 4

 Bill Gates and Paul Allen launched ________ with the vision of a computer on every desk and in every home, all running software.

Answer

Apple

Google

Yahoo

Microsoft

Question 5

 Dealing with unexpected events is not the norm fo

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