PBM_Post Review

Front

A group of employees meet every day at lunch to chat about what’s going on in the office. This is an example of

Back

informal communication.

Front

Short-term financing is obtained for a period of less than

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1 year

Front

The first step in developing a business plan is to

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research, gather and review information.

Front

If you start a new business, you need information about: competitors, government regulations, customers, all of the above

Back

all of the above

Front

According to the Small Business Administration, a small business is an independent business with fewer than ____ employees.

Back

500

Front

Scrubbles laundry detergent has been on the market for years. The manufacturer of Scrubbles recently added a new ingredient to give the detergent extra cleaning power. This is an example of an

Back

improvement

Front

Most of the money needed to start a new business comes from

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the entrepreneur and his/her family and friends.

Front

Which of the following is probably the LEAST important factor in becoming an entrepreneur? living in a major U.S. city, having special skills and abilities, having a real desire to be your own boss, developing a good initial business plan

Back

living in a major U.S. city

Front

A precise statement of results a business expects to achieve is a

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goal

Front

A(n) ____ is a written contract granting permission to someone to operate a business and to sell products and services in a set way/rules.

Back

franchise