Sbe 310 Week 8 Final Exam Answers

SBE 310 Week 8 Final Exam Answers

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SBE-310 Small Business Management and Entrepreneurship – Week 8 Final –

1. (TCO 1) Approximately what percentage of businesses have a payroll with fewer than 500 people?

(Points : 5)

10 percent

25 percent

75 percent

99 percent

2. (TCO 1) You have a small business that offers printing services. One of the services you offer is a high-speed color copier. You are currently the only printing service in a tri-state area that offers such a service. You currently have _______.

(Points : 5)

Creative destruction

A competitive advantage

A qualitative advantage

A capital advantage

3. (TCO 1) Your employees are your most valued assets due to their _______.

(Points : 5)

Skill, knowledge, and information

Earnings

Knowledge of finance and accounting

College degree and high IQ

4. (TCO 1) Entrepreneurship primarily involves which phase of business?

(Points : 5)

The startup process

Hiring of key employees

Maintaining a positive cash flow

Building and maintaining a sufficient customer base

5. (TCO 1) Which of the following is the most common form of business ownership?

(Points : 5)

Sole proprietorships

Partnerships

Corporations

Joint ventures

6. (TCO 4) Which of the following acts was written to prevent large businesses from forming trusts?

(Points : 5)

Clayton Act

Federal Trade Commission Act

Fair Debt Collection Practices Act

Civil Rights Act of 1964

7. (TCO 4) Bankruptcy remains on a credit report for how many years?

(Points : 5)

3 years

5 years

7 years

9 years

8. (TCO 4) Peter Drucker stated that businesses have _______ basic functions.

(Points : 5)

Two

Three

Four

Five

9. (TCO 4) Managing inventory can be compared to which of the following?

(Points : 5)

A balancing act

Preparing for a test

Driving a bus

Lion taming

10. (TCO 4) What is the key word in evaluating a channel of distribution? (Points : 5)

Location...