POB Ch 5 Review

Most successful entrepreneurs have similiar

• backgrounds
• Characteristics
• experience
• goals
• Text for option 5<br /><br />(optional)<br /><br /><br />

A new business undertaking that involves risk is called

• virtual business
• small business
• venture
• dot-com company

A brief account of the key points contained in a business plan

• business plan&nbsp;
• executive summary
• Company description
• Management team plan

A buisness can be classified as a "small business" if it has fewer than

• 10 employees
• 50 employees
• 100 employees
• 500 employees

A virtual business is a business that

• is almost a business
• operates on the Internet
• operates on street corners only
• does not use money in any transaction

SBA is an acronym that stands for&nbsp;

• Start-Up Business Adminitration
• Small Business Agency
• Small Business of America
• Small Business Administration

A written description of a business venture that describes all aspects of the business is&nbsp;

• a business plan
• a company charter
• a company policy
• an executive summary

The most common form of business in the US is

• corporation
• partnership
• small business
• sole proprietorship

In a business plan, the description of the business's media plan is included in the&nbsp;

• marketing plan
• product and service plan
• vision statement
• competitive analysis

During the first five years of operation, about ______ of small businesses fail

• 10 %
• 40 %
• 50 %
• 80 %