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WorksheetsUnit 3 Test Review
Total questions: 18
Worksheet time: 9mins
Our textbook describes 12 characteristics of successful entrepreneurs. Which is NOT one of them?
Risk taking
Self-demanding
Dependent on others
Enthusiastic
A ___ is a new business undertaking that involves risk.
small business
entrepreneurship enterprise
venture
corporation
What U.S government agency provides support to small businesses?
U.S. Entrepreneurship Academy
American Business Association (ABA)
500 or Less Club
Small Business Administration (SBA)
Small businesses that use _____ have grown more than 45% faster than those that do not.
bitcoin
gold and silver
the Internet (as a shopping option)
international employees
Which is NOT one of the rewards of being an entrepreneur? (per your text)
Being the boss
Taking off lots of time to raise a herd of alpacas
Doing what you enjoy
Having the opportunity to be creative
What are most businesses in the U.S.?
Sole proprietorships
Partnerships
Corporations
What is one of the biggest obstacles in starting a business?
Finding a physical location for your business
Securing permits
Obtaining financing
Attracting customers
What is a written description of a new business venture that describes all aspects of the business?
Business Plan
Marketing Plan
Business Summary
Business Guidelines
Which statement expresses specific aspirations of a company (the major goals it will try to reach)?
Goals and objectives statement
Situational analysis
Mission statement
SWOT Analysis
Which needs a charter from the state (where the main headquarters are located)?
sole proprietors
corporations
partnership
A ______ is a private business organization that is owned and controlled by the people who use its products, supplies or services.
nonprofit organization
cooperative
franchise
chain store
Which type of business gathers raw products in their natural state?
Wholesalers
Manufacturer
Producers
Processors
___ is the buying and reselling of goods that have already been produced
Planning
Marketing
Production
Procurement
Which is NOT one of the four functions of management?
Planning
Organizing
Writing
Leading
Controlling
Who is responsible for the daily operations of a business?
Operational manager
CEO
CFO
V-President
True or False: There is only one managerial structure, line authority.
True
False
____ organization give authority to a number of different managers.
Decentralized
Centralized
True or False: Managers are often blamed when things go wrong, even yf they did not cause the problem
True
False
