Midterm

Which step of the sales process focuses on getting a client's decision to purchase or not to move forward?

• Prospecting
• Presentation
• Closing
• Follow-up

Which of the following best defines an entrepreneur?

• A person who starts a new business and is willing to take risks
• A person who manages an existing business without taking risks
• A person who works for a large company
• A person who provides capital for a business but is not involved in daily operations

A trait of an inflexible person is they often feel _______ if their preferred way of working or doing things is questioned or changed.

• Excited
• Threatened
• Enthusiastic
• Motivated

_______ is when a person or organization has experiences or convictions that could influence the way they present information on a topic.

• Analysis
• Bias
• Problem Solving
• Open-minded

_______ is the ability to think clearly and rationally.

• Problem solving
• Evaluating the outcome
• Critical thinking
• Open-minded

_______ leadership relies on leaders taking their big picture ideas and communicating them effectively to the group to accomplish their goals.

• Visionary
• Coaching
• Commanding
• Democratic

Which of the following aspects of developing a good work ethic includes building a plan and eliminating distractions to be dedicated to a task?

• Be focused
• Be healthy
• Be punctual
• Be professional

What is a start-up company?

• A business that has been operational for more than 10 years
• A newly created business, often innovative and with growth potential
• A company that operates under a franchise model
• A non-profit organization

What does a B2B (business-to-business) transaction involve?

• A business selling directly to consumers
• A consumer buying goods or services from a business
• One business selling products or services to another business
• A franchise paying royalties to a franchise owner

What is the main difference between an S corporation and a C corporation?

• S corporations are taxed at both corporate and shareholder levels, while C corporations are only taxed at the corporate level
• C corporations can sell stock on public exchanges, while S corporations have limitations on shareholders and tax benefits
• S corporations must have more than 100 stockholders, while C corporations are restricted to fewer than 100
• C corporations are only for international businesses, while S corporations are only for local businesses