Kevin Chapt 3 TF

The Small Business Administration is the government agency charged with owning small businesses.

• TRUE

• FALSE

Small businesses produce more patents per employee than large patenting firms.

• TRUE

• FALSE

Most businesses in the United States are large businesses with more than 500 employees.

• TRUE

• FALSE

Major innovations are most likely to come from large corporations.

• TRUE

• FALSE

The Small Business Administration (SBA) may consider a business with as many as 1500 employees to be small as long as it has low annual revenues.

• TRUE

• FALSE

People who assume the risk of business ownership with a primary goal of growth and expansion are called entrepreneurs.

• TRUE

• FALSE

Most successful entrepreneurs have a strong desire to be their own bosses.

• TRUE

• FALSE

A business plan demonstrates how an entrepreneur's business strategy will be implemented.

• TRUE

• FALSE

Loans are the most important sources of money for new businesses.

• TRUE

• FALSE

Lending institutions are more likely to help finance the purchase of an existing business rather than the start-up of a business from scratch.

• TRUE

• FALSE