BAS 160-ASK Exam Review: Entrepreneurship and Management

One way that an advertising agency can protect the original song it created for a client's television commercial is by obtaining a

• patent

• copyright

• trademark

• license

Which of the following is a characteristic of a product trade-name franchise:

• It is not open to the public.

• The franchisee can choose the name of the business.

• The franchisee has unlimited liability.

• It is owned by shareholders.

Jackie is a dentist. Which channel of distribution will Jackie use to provide services to clients?

• Comsumer

• Indirect

• Direct

• Industrial

Managers are responsible for directing the business's employees in ways that promote goodwill and build  positive customer relationships, which often improve 

• revenue from investments.

• channel member efficiency.

• customer retention rates.

• resource allocation efforts.

When Charlyne buys gasoline for her car, she is surprised that she doesn't have to pay any tax in  addition to the price of the gasoline. Why is this? 

• Charlyne is paying an excise tax that is already included in the purchase price.

• Charlyne must pay the tax later on her own.

• Charlyne is paying a property tax that is already included in the purchase price.

• The flat tax means that Charlyne doesn't have to pay taxes on gasoline.

Which of the following attitudes should an entrepreneur have about new technological developments.

• New technologies are overrated and should be avoided.

• The impact of new technologies should always be evaluated.

• New technologies should be applied to all business practices.

• The benefit of new technologies do not outweigh their high cost.

Which of the following is an example of a demographic trend has encouraged entrepreneurial discovery:

• Technological advancements

• Interest rate fluctuations

• Industry deregulation

• Increased cultural diversity

Which of the following is a characteristic of a well-conducted feasibility study:

• Subjective

• Abbreviated

• General

• Complete

Which of the following is major cost that every new startup must plan for:

• Capital expenditures

• Expansion costs

• Continuous improvement costs

• Legal Battles

Which of the following is an example of a person financing a new business by selling assets:

• Isbella ask her brother for $5,000.

• Ann offers her home as collateral for a bank loan.

• Jonathan sells his vintage sports car.

• Logan uses his credit card to purchase business supplies.