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Microenterprise Prep #6

Authored by Courtney Thomas

Business

9th Grade

Used 18+ times

Microenterprise Prep #6
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55 questions

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1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

___, also known as ____, is funds lent to a business with an agreement that the business will repay the lender with interest. (choose 2 options)

credit

debt

debit

deposit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A conflict of interest is:

when business partners have an honest disagreement about their next advertising campaign

when an accountant disagrees with the IRS on how much a company owes in income taxes

a situation in which an individual might take an action to his/her advantage that would be to the disadvantage of a person or company that believe this individual is serving them

naturally occurring whenever there is competition between small businesses

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bank loan applications:

can be intimidating, complex and detailed

are easy to complete

are short

can only be completed in the presence of a banker during regular work hours

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_____ is the ability to pursue a task without being told to by someone else.

Problem Solving

Self-Discipline

Self-Motivation

Teamwork

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consuelo's gift store has an opportunity that will disappear if they don't move quickly. A competitor is moving to another state and they've offered to sell Consuelo their inventory at 25% of retail value. Consuelo has inspected the inventory, it's in perfect condition and includes all of the most popular items that Consuelo's store sells every day. In the upcoming holiday season 60 days away Consuelo is sure the store can sell pretty much all of this inventory. Unfortunately this offer is only open for 48 hours, after that, the competitor will sell to another buyer. What type of financing should Consuelo seek?

online credit

mortgage

bank credit

none, the numbers indicate this will not be a profitable business decision

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Characteristics of successful entrepreneurs include:

pessimism

territorial

optimism

ineffective

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Characteristics of successful entrepreneurs include:

grit

submission

self-importance

short attention span

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