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WorksheetsBUS 1038 - Practice Test 2 - Part 1
Total questions: 20
Worksheet time: 10mins
People often choose to operate home-based firms for all but which one of the following reasons:
They can choose to work when it suits them
Zero start-up costs
Better work-life balance
Lower overhead costs
Traditionally, small businesses tended to be concentrated in the ________ industry.
service
goods-producing
manufacturing
forestry
The ________ is most likely an example of publicly ownership.
trucking company
television company
movie theater
Hospital run by provincial government
Starbucks started doing business in India by forming a __________ with Tata, one of India's leading business groups.
Horizontal merger
Joint venture
Vertical merger
Subsidiary
The joining of Chemical Bank and Chase Manhattan Bank was an example of a ________.
conglomerate merger
horizontal merger
vertical merger
joint venture
A Chinese company Geely has bought Volvo. This is an example of :
Franchising
Acquisition
Vertical merger
Take over
Which is the most business friendly province in Canada?
Newfoundland
Ontario
Alberta
Nova Scotia
Although ______ are the most common type of business ownership, the greatest revenues come from ______.
sole proprietorship, partnerships
partnerships, corporations
corporations, partnerships
sole proprietorship, corporations
Sole proprietorships have all of the following advantages EXCEPT ________.
ease of formation
unlimited life
ease of liquidation
profits subject only to a single tax
The two principal parties in a franchising agreement are the ________.
manager and worker
franchiser and partners
franchiser and franchisee
venture capitalist and SBA
McDonalds offers a contractual business arrangement in various countries around the world. McDonalds is an example of a(n) international ____________.
merger
franchise
acquisition
not-for-profit corporation
In exchange for an ownership share, Benita's small business receives financing from a group of individuals known as _____________,
Angel invester
microloan investor
franchiser
venture capitalists
When the Canada Small Business Finance Program (CSBFP) assists a small business in applying for a major loan, it acts as the lender’s ________.
bank
savings and loan association
credit union
guarantor
A small business fails in the management sense when ________.
financial training is lacking
marketing training is lacking
staffs are overworked
overall business training is lacking
If you are considering starting your own business, a key priority for you should be to:
learn the basics of business.
incorporate your business.
get a loan from your local bank
apply for a Small Business Administration loan.
Jada is opening her own bakery. Jada is an example of a(n) ______.
manager
entrepreneur
venture capitalist
employee
Ali and his sister had an idea for a new gourmet burger. They had a hard time in opening the first shop and later, to expand in other areas of GTA. Now the have more than 100 restaurants in Canada and USA and their business is growing. This is an example of ______.
change agents
social entrepreneurship
venture capitalist
classic entrepreneur
Lee started an on campus mobile phone repair shop while still in college, he sold the business after graduation. He then opened an online coffee and tea shop; and most recently, he has started an advertising company that serves small and medium size companies mainly looking for digital media solutions. Lee is an example of a(n)
social entrepreneur
serial entrepreneur
lifestyle entrepreneur
classic entrepreneur
James Smith analyzed the census data of Canada and realizes the population is growing faster than that of housing development. He initiates savings to invest in real estate in the next two years. James Smith can be classified under what category of entrepreneur
risk taker
social
classic
serial
Lifestyle entrepreneurs are energized to set up businesses because of the need for ______.
flexibility in working and control over their life
the desire to invest their monies
desire to invest irrespective of making profit or loss
to gain popularity
