EOPA Prep 3

EOPA Prep 3

12th Grade

10 Qs

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EOPA Prep 3

EOPA Prep 3

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Cassandra Mingo

Used 8+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

1.         Zander owns a company that buys tea from other companies in China and sells it to grocery stores. Zander's company is a(n)

industrial user

retailer

producer

wholesaler

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Troy has discovered an innovative technology with huge growth potential. He needs $1,000,000 in funding and expert technical advice to launch his business venture. What funding source would be best for him to pursue?

commercial bank

angel investor

family and friends

venture capitalist

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The type of capital resources that a startup business needs to begin operating usually depends on the

vendors' lead time

location

owner's preferences

industry

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

To maximize the efficiency of complex business operations, business owners must

establish standards after conducting a SWOT analysis

work with financial advisors to reduce tax liability

rely on economic indicators to develop business strategies

understand the interdependence of all business functions

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A potential benefit to new business owners of establishing business systems and procedures is

the elimination of employee errors

improved utility services

less reliance on networking

the efficient use of resources

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following terms best describes the overall procedures that guide a small business's activities by standardizing the way the business functions:

safety

credit

operating

hiring

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A small-business owner who uses the brainstorming technique to find solutions to difficult situations is trying to

plan contract negotiations

assess long-term budgets

creatively solve problems

intentionally prevent conflict

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