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TOU2212 Week 2 Review Questions - Section 1 | Chapter 2

Authored by Ryan Bonacci

Business

Professional Development

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TOU2212 Week 2 Review Questions - Section 1 | Chapter 2
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9 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Arranging financing, handling credit, and budgeting are all considered skills under which broad entrepreneurial skill set?

Human resource management

Inventory management

Directing Business Operations

Financial management

Answer explanation

Page 28

Directing Business Operations is more day-to-day such as filling orders, purchasing supplies, etc.

2.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Which of the following are ways you can acquire skills needed before becoming an entrepreneur? Check all that apply!

Previous job experience

Organizational (club) activities (volunteer)

Managing a home

Answer explanation

Pages 29-30

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Education is a method that can be used to acquire skills needed to be an entrepreneur.

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The higher your number of most desirable responses on the Entrepreneurial Quiz, the:

less your responses agree with those of successful entrepreneurs.

more your responses agree with those of successful entrepreneurs.

less likely you are to become a successful entrepreneur.

more likely you are to abandon your attempts at an entrepreneurial venture because of stress.

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

This type of entrepreneur does not typically start their own venture, but they innovate within a larger organization.

Innovative entrepreneur

Intrapreneur

Social entrepreneur

Disruptive entrepreneur

Answer explanation

Intrapreneurs have entrepreneurial traits such as thinking outside the box, they are action oriented and self-motivated. However, they do not head up their own independent ventures. Rather, they typically work as employees in a larger organization

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The personal net worth required to start a business is generally thought to be in the range of:

$5,000-$10,000

$20,000-$50,000

$100,000-$500,000

It varies

Answer explanation

Since every business opportunity has its own unique capital (money) requirements, there is no specific dollar value for the personal net worth necessary to start a business.

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Research into attributes shared by successful entrepreneurs and detailed in our textbook found that:

All entrepreneurs have the attribute of "integrity"

Those attributes can be learned.

Most required attributes cannot be learned.

The confidence attribute is always at the top of the list.

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