Ch8 Entrepreneurship Locate and Set up your Business

Neighborhood shopping centers are often called strip malls.

• True

• False

Warehouses are generally one of the most expensive rental facilities for a retail business.

• True

• False

Industrial parks are usually located away from housing developments and downtown areas.

• True

• False

The cost of maintaining an online business is much less than the cost of buying or leasing a building.

• True

• False

A scale drawing of your floor plan will help identify potential problems in your layout.

• True

• False

In a gross lease, the landlord pays property taxes and the tenant pays rent, insurance, and any other expenses.

• True

• False

You should always consult an attorney before signing a commercial lease agreement.

• True

• False

Inventory consists of the products that a business sells to its customers and the materials needed to make those products

• True

• False

You should always choose the vendor who provides the lowest price.

• True

• False

Retail, service, and manufacturing businesses must purchase inventory before they can open for business.

• True

• False