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Exam 6: Entrepreneurship and Small Business

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Question 31

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List three advantages that small businesses have over larger,more complex companies.

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Question 32

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One of the biggest advantages that a small business has is a greater ability to serve specialized markets.

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Question 33

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Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

Which of the following two forms of business financing describe borrowed funds and ownership funds,respectively?

Once Keeler Monroe had decided he wanted to quit working as a tax preparer and go into some kind of business for himself,he did a self-assessment.What will his next step be?

What is one of the main reasons the number of people starting businesses has decreased?

What is the first step in starting a new business?

Which of the following best describes intrapreneurs?

List the three most common causes for business failure.

What is the difference between the small business owner and the entrepreneur?

What is one way to ease the burden of managing a business?

Which of the following does the Business Development Bank of Canada offer?

Entrepreneurs are less likely to accept the status quo and generally take a longer-term view than small-business owners.

David Dworkin is the founder and owner of Swoozie's,a chain of stores that carry eclectic lines of wrapping paper,stationery,invitations,and gifts for affluent women.He is a classic entrepreneur who envisions having stores across the United States and Canada.Which of the following type of entrepreneurs best describes David?

Pim Bouwman quit his lucrative job as a consultant to start a retail website that specializes in Dutch tulip bulbs.To fund his website,he borrowed money from his friends and relatives.In other words,he used which type of financing?

Michael Bronner made a killing in the direct marketing business as the cofounder and CEO of Bronner Slosberg Humphrey.His newest venture,Upromise Inc.,enlists some of America's largest corporations to help families pay for postsecondary education.The 40-year-old Bronner will more than likely start at least one more new company before he retires.What type of entrepreneur is Bonner?

Which of the following is financing obtained from investment companies that specialize in financing small,high-growth companies and receive an ownership interest and a voice in management in return for their money?

Entrepreneurs start a business with the hope that they will be compensated for their investment of time,expertise,and money with profits.

Many classic entrepreneurs who start small and plan to keep their business small are described as which of the following?

Gord Larose and his friend David Allan worked at Oracle,a giant company.They dreamed up a scheme for renting software over the Internet.Instead of quitting their jobs,they reported to work on Monday,explained their plan to their boss,and began working to make their idea a reality.Larose and Allan are examples of which of the following type of entrepreneur?