A non-profit organization is taxed.

A sole proprietorship protects the owner from personal liability

A variable cost is eventually paid off over time.

Affiliate sales programs offer commissions to companies who sell their products.

An entrepreneur is a person who assumes the responsibilities and risks of starting a business.

An S corporation is suitable for international companies with at least 200 shareholders.

Business longevity increases potential funding opportunities.

Copyright licensing is required for material in the public domain.

Distributors use their sales force to sell another company's product.

Fixed costs are expenses that have to be paid by a company, regardless of changes in revenue.

For a franchise opportunity, you will be able to purchase the items you believe will sustain your business without having to ask for permission.

For a franchise opportunity, you will receive ongoing support from larger companies.

For a personal business opportunity, you will be required to go through more intensive training than for a franchise opportunity.

For a personal business opportunity, you will generally have lower start-up costs than opening a franchise.

For third-party sellers, what are two marketing benefits of selling products on a marketplace?

For which two reasons should a meal delivery company use direct distribution channels over indirect distribution channels?

In what section of the business plan should you describe that in five years you plan to sell your company to another organization?

Lenders require business owners to identify the purpose of the loan.

Most online marketplaces charge fees to vendors for listing or selling products.

One objective of entrepreneurship is to make a profit.

Patent licensing is used for a new product or invention

Taking on business debt is a requirement for entrepreneurship

The business owner's personal credit score does not affect their ability to qualify for a loan.

The design thinking process aims to develop a product based on the designer's needs.

The design thinking process aims to develop solutions to problems.

The design thinking process is highly focused on using secondary research to develop solutions to problems.

The design thinking process places a high emphasis on developing customer empathy.

This market segment describes statistical information about customers

This market segment describes the benefits to customers based on their wants or needs and how they use the product.

This market segment describes what customers think about and value, and how they live their lives.

This market segment describes where customers are located and how they can be reached.

Trade secret licensing must be registered with the government.

Trademark licensing is used for brand names, logos, or slogans.

Value engineering adds features and functions to a product.

Value engineering encourages use of materials that save money.

Variable costs depend on the increase or decrease in the amount of goods or services produced or sold.

What are the characteristics of an entrepreneurial mindset?

What are two advantages of using the Lean Canvas business plan instead of the traditional business model?

What is a benefit of being an entrepreneur?

What is a risk of being an entrepreneur?

What is the first step in forming a product/market fit hypothesis?

Which identifies the internal factors that impact your business while performing SWOT analysis?

Which of the following expenses are a "Customer Acquisition Cost"?

Which of the following expenses are a "Customer Retention Cost"?

Which three items should you include in your value proposition when creating a business plan?

Which two actions help start-up companies achieve product/market fit?

Which two actions should you complete when conducting a competitive analysis?

Which two criteria are required for obtaining venture capital funding?

Which two elements below of the sales process, goes after the sales pitch?

Which two elements below of the sales process, goes before the sales pitch?

Which two marketing platforms are examples of owned media?

Which two services does direct distribution provide that fulfillment centers do not?

Which type of business should you choose if you need to invest in a business that has simple transactions, low inventory costs, and fast, free, product delivery.

Which type of funding should someone seek if they need money for their start-up company, have a few potential ideas for their business, and are seeking mentorship?

Which type of sales channel is someone using if they own an ecommerce website where customers can purchase the jewelry that they make

Who creates budgets and financial strategies for a company?

Who finds and invests resources to form the company and help it succeed?

Who reports to the board of directors and is the highest-ranking employee in the company?

You currently opened a food truck business. Identify what are your operating costs. (Select 2)

You currently opened a food truck business. Identify what are your start-up costs. (select 2)

You decide to create new type of energy bar. You take some samples to a focus group to get their reactions to your product. Which stage of the development process are you in?

You have a cleaning company. You raised $10,000 from investors to get started. After three months, you have $7,450. What is your burn rate and current runway?

You have a small business. Your first-year financials are as follows:

Start-up costs = $60,800

Gross sales = $65,800

Total expenses = $28,500

Income taxes = $6,370

What is the return on investment (ROI) for your business?

You need to create an operating budget for your business. Your financial information for the month is as follows:

Labor: $1,000

Materials: $4,000

Utilities: $400

Computer: $1,400

Rent: $700

Website deign: $1,200

Insurance: $150

What is your monthly operating budget?

You need to start a customer loyalty program to reward and retain your current customers. Which two types of programs should you select?

You own a business that manufactures pool chairs. For each pool chair, you determine the following:

Labor: $40

Materials: $100

Desired markup: 40%

What should your selling price be?

You own a business that manufactures sandals. For each sandal, you determine the following:

Labor: $20

Materials: $30

Desired markup: 25%

What should your selling price be?

You want to buy a gift shop in a popular location within a large town. Which three factors will help you determine if the business opportunity is viable?