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Solving the Functional Task of a Startup.d

Solving the Functional Task of a Startup.d

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80 вопросов Вариант 1 Доступ 7 дней
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Вопросы и варианты

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Вопрос 1

One of the common themes resulting from research into the common attributes such as initiative, perseverance and a positive outlook shared by successful entrepreneurs is that:

  1. Those attributes can be learned.
  2. Those attributes cannot be learned; an individual is either born with them or they are not.
  3. Only education will give you the attributes needed to succeed as an entrepreneur.
  4. There are no "common" set of attributes - each entrepreneurial success story is unique
Вопрос 2

Effective entrepreneurs set challenging yet attainable goals that are:

  1. Representative of their financial situation and constraints.
  2. Reflective of what their mentor says they should do.
  3. Consistent with their interests, values, and talents.
  4. Based on market research and history.
Вопрос 3

Successful entrepreneurs are _______ people; they want to start producing results immediately.

  1. Success-oriented
  2. Action-oriented
  3. Goal-oriented
  4. Challenge-oriented
Вопрос 4

Entrepreneurs:

  1. Hide and dismiss their mistakes. Letting investors know the downside of the business will cause too much uncertainty.
  2. Do not like to look at their mistakes too closely as they know they will not make the same mistake twice.
  3. Concede their errors and analyze their causes, so they may correct and learn from them.
  4. Are known to blame others and the situation for their failures.
Вопрос 5

John Warrillow developed attitudinal profiles for three types of entrepreneurs. Which of the following entrepreneurial types prefer to identify themselves by their area of expertise first, and secondly as business owners?

  1. Freedom Fighters
  2. Craftspeople
  3. Lifestyle Business
  4. Empire Building
Вопрос 6

According to Vesper, who identified 8 entrepreneurial types, these entrepreneurs go on to build larger companies through hiring and delegation of authority:

  1. Team builders
  2. Pattern multipliers
  3. Independent innovators
  4. Deal-to-dealers
Вопрос 7

What business skill is an essential ingredient to entrepreneurial success?

  1. Accounting skills
  2. Communication skills
  3. Managerial skills
  4. Computer and technological skills
Вопрос 8

What is the role of a business mentor for entrepreneurs?

  1. A mentor is a person that offers business advice and is there when you need them.
  2. A mentor will step in and run the business if needed
  3. A mentor always has all the answers a growing entrepreneur needs.
  4. A mentor is an entrepreneur also.
Вопрос 9

Your credit rating is based on:

  1. The value of your home equity.
  2. Your employment income only.
  3. Your prior history in borrowing and repaying money.
  4. Your overall debt load, compared to your ability to generate income.
Вопрос 10

Social entrepreneurship seeks:

  1. A triple bottom line approach to all operations
  2. Financial profit
  3. Welfare management
  4. Social media business opportunities
Вопрос 11

A major first step in the entrepreneurial process is:

  1. gathering all the financial resources you can.
  2. quitting your job so you can focus on your venture.
  3. assembling the venture team.
  4. the recognition of an appropriate opportunity by the entrepreneur.
Вопрос 12

The first thing you need to start a business is:

  1. an idea.
  2. financial support.
  3. a product or service.
  4. a business plan.
Вопрос 13

Which of the five elements in the opportunity recognition process developed by Lumpkin, Hills and Shrader, refers to that part of the process where the individual contemplates an idea or a specific problem?

  1. Preparation
  2. Incubation
  3. Insight
  4. Evaluation
Вопрос 14

The rate of growth for a potentially high-growth business is dependent on:

  1. the rate of growth of the industry.
  2. how hard the entrepreneur works.
  3. the amount of funding the entrepreneur can get a hold of.
  4. direction provided by the venture capitalist investors.
Вопрос 15

Most "mom-and-pop" stores are considered:

  1. high-growth ventures
  2. no-growth ventures
  3. lifestyle ventures
  4. stable, enduring ventures
Вопрос 16

When deliberately looking for a new business idea, where is a good place to start?

  1. From a government list of start-up companies that were not successful.
  2. Online, as most business is online anyway.
  3. Magazines, media, podcasts, government agencies and departments, and/or creative thinking.
  4. An industry that you are not familiar with, as you will be best to see market gaps and opportunity.
Вопрос 17

After you have learned more about your favourite industries, the next step in the six-step opportunity selection process is:

  1. identify promising industry segments.
  2. identify problem areas, and brainstorm solutions.
  3. compare possible solutions with your objectives and opportunities in the marketplace.
  4. focus on the most promising opportunities.
Вопрос 18

The "ideal" business, according to Richard Buskirk, involves all of the following, except:

  1. provides 100 percent gross margin
  2. has a recognized, measurable market
  3. requires no labour force
  4. is government regulated
Вопрос 19

The Business Opportunity Screening Model (BOSM) is based on a series of important elements in the venture selection process and aims to:

  1. define market needs and success.
  2. determine the speed to market.
  3. clearly distinguish between high and low value opportunities.
  4. create a framework for investors to follow.
Вопрос 20

The individual who designs and develops a business, and then sells the rights to operate that business to others is called:

  1. a franchisor
  2. a franchisee
  3. a franchise
  4. a franchiseship
Вопрос 21

The first comprehensive plan you need in contemplating any new venture is called:

  1. a profit-loss statement.
  2. a financial projection report.
  3. a feasibility study.
  4. a business plan.
Вопрос 22

An elevator pitch is:

  1. only used in elevators when others can overhear you.
  2. a quick and confident speech to capture your listener's attention and interest.
  3. a great way to get new business ideas.
  4. always more than two minutes long so you can explain your idea.
Вопрос 23

A fully developed concept includes all of the following, except:

  1. a description of the proposed pricing strategy.
  2. distribution plans.
  3. proprietary aspects.
  4. a prototype.
Вопрос 24

A microprocessor used to control a single-person car is an example of a product that is:

  1. a new invention.
  2. highly innovative.
  3. moderately innovative.
  4. slightly innovative.
Вопрос 25

Organizations and businesses in your community and across the country are considered to be part of the:

  1. B2C market.
  2. institutional market.
  3. industrial market.
  4. government market.
Вопрос 26

This process of breaking down large, heterogeneous consumer or industrial markets into more homogeneous groups is known as:

  1. market segmentation.
  2. market diversification.
  3. market augmentation.
  4. market differentiation.
Вопрос 27

_________ data comprise information that others have put together relating to your industry and/or your customers.

  1. Primary
  2. Secondary
  3. Internal
  4. External
Вопрос 28

The ______ approach utilizes published statistics and weights them by an index that may be some factor such as the percentage of the population within your designated geographic area.

  1. Broad-based
  2. Narrow-focus
  3. Statistic-specific
  4. Top-down
Вопрос 29

The principal ingredients of a marketing program include all of the following, except:

  1. person
  2. productivity
  3. pricing
  4. place
Вопрос 30

_________ permit customers to deduct a percentage amount from the net cost of their purchases if payment is made in cash at the time of purchase or full payment is made within a specified number of days.

  1. Cash discounts
  2. Quantity discounts
  3. Quality discounts
  4. Noncumulative discounts
Вопрос 31

Entrepreneurs project and determine their financials to make reasonable forecasts and also:

  1. choose the right location for the business.
  2. raise needed capital investments.
  3. determine human resource requirements.
  4. order stock maintain a prominent online presence for the business.
Вопрос 32

One-time expenditures include all of the following, except:

  1. capital expenditures
  2. fixtures
  3. soft costs
  4. employees' wages
Вопрос 33

A(n) _______ measures the company's sales and expenses during a specified period of time.

  1. balance sheet
  2. ratio analysis
  3. income statement
  4. budget
Вопрос 34

The cost of goods sold:

  1. is the price of the goods sold, including selling and other expenses.
  2. is the price of the goods sold, plus an estimated expense of carrying the inventory in the store or warehouse facility.
  3. is just the price of the goods, not including selling and other expenses.
  4. is a value that is not relevant when it comes to constructing the pro forma income statement.
Вопрос 35

Which of the following financial statements provides a "snapshot" of your business's health at one point in time?

  1. Income statement
  2. Cash flow statement
  3. Balance sheet
  4. Pro forma income report
Вопрос 36

Which of the following is a long-term liability?

  1. Bills from suppliers
  2. Raw materials you will need for your initial inventory
  3. Notes on machinery and equipment
  4. Short-term loans from banks
Вопрос 37

The three common groups into which financial ratios are typically arranged include all of the following, except:

  1. liquidity ratios
  2. debt ratios
  3. profitability ratios
  4. leverage ratios
Вопрос 38

Which category of financial ratios measure the level of debt the business has incurred?

  1. Leverage ratios
  2. Profitability ratios
  3. Liquidity ratios
  4. Asset ratios
Вопрос 39

The break-even point indicates the level of operation of the business at which:

  1. fixed expenses equal variable expenses.
  2. current assets equal current liabilities.
  3. total costs equal total revenue.
  4. total revenue is greater than total costs.
Вопрос 40

The creation of a proforma income statement is important as it:

  1. summarizes the assets that the business holds
  2. summarizes the important activities and provides valuable information to investors
  3. clarifies the level of short- and long-term company debt
  4. includes the marketing and sales information to meet sales targets
Вопрос 41

The _______ lays out the "super goal" that you would like your business to achieve.

  1. concept statement
  2. financial statement
  3. mission statement
  4. vision statement
Вопрос 42

Business plan preparation takes a lot of time, research and commitment. For this reason:

  1. only high-growth ventures need to create a business plan.
  2. if you have a small business working from home, there is no need for a business plan.
  3. no matter the size of your venture, all new businesses should create a business plan.
  4. business plans are only needed when entrepreneurs are seeking funding and financial support.
Вопрос 43

Externally, your business plan serves as:

  1. a validation of the hard work you have put into your venture.
  2. the heart of the capital raising process.
  3. a document that once complete, assures that the business will succeed.
  4. a way to show the world that you are officially a business and a market competitor.
Вопрос 44

Many financial institutions will accept a ________ for use by early-stage businesses in applying for a bank loan.

  1. cash flow statement
  2. feasibility study
  3. consultant's perspective
  4. summary business plan
Вопрос 45

A _________ gives the title of the plan or the name of your business and outlines the major features of your plan that may be of interest.

  1. Letter of Transmittal
  2. Letter of Expression
  3. Letter of Purpose
  4. Letter of Intent
Вопрос 46

Letters of reference and copies of legal documents can be found in which component of a business plan?

  1. Letter of transmittal
  2. Executive summary
  3. Body of the plan under " Company and the Industry
  4. Appendices
Вопрос 47

Under which section of the business plan are environmental issues most likely to be described?

  1. Market Analysis
  2. Marketing Plan
  3. Development Plan
  4. Production/Operations Plan
Вопрос 48

Under which section of the business plan is the profile of the principal target customers described?

  1. Market Analysis
  2. Marketing Plan
  3. Development Plan
  4. Production/Operations Plan
Вопрос 49

Lean Canvas differs from the Business Model Canvas in that it focuses on start-up factors such as:

  1. uncertainty and risk
  2. finances and funding
  3. team building and human resources
  4. market potential and competitors
Вопрос 50

Who should write your business plan?

  1. Business plans are best written by employees who know the business the best from an inside perspective.
  2. Always use an outside consulting firm to write the business plan.
  3. Accountants are know for creating viable and comprehensive business plans.
  4. The owner should write their business plan.
Вопрос 51

Under which business form, does the owner have complete control over the conduct and management of the business?

  1. Limited partnership
  2. General partnership
  3. Sole proprietorship
  4. Corporation
Вопрос 52

A corporation has a better opportunity to provide benefits to employees and shareholders in a variety of ways, such as:

  1. salaries, dividends, and profit-sharing plans.
  2. career advancement.
  3. vacation options and salaries.
  4. employee health care plans and benefits.
Вопрос 53

Credit unions are:

  1. agricultural co-operatives
  2. marketing co-operatives
  3. financial co-operatives
  4. manufacturing co-operatives
Вопрос 54

Companies registered as B Corps have in common a desire to:

  1. build better businesses.
  2. have a positive impact on people and the planet.
  3. excel in profitability.
  4. operate their businesses ethically.
Вопрос 55

One of the common threats to new firms is:

  1. the entry of new and unexpected competition
  2. changing demands of shareholders.
  3. the actions of the stock market.
  4. political changes in the economy.
Вопрос 56

A ______ is a body of elected or appointed members who jointly oversee the activities of a company or organization.

  1. board of directors
  2. regency team
  3. mentor
  4. advisory board
Вопрос 57

A(n) _____ is a group set up to meet regularly to review business plans and new projects and also to give feedback, as needed, whenever special questions arise.

  1. board of trustees
  2. board of directors
  3. board of governors
  4. advisory board
Вопрос 58

A ______ is a word, symbol, picture, design, or combination of these that distinguishes your goods and services from those of others in the marketplace.

  1. trademark
  2. patent
  3. copyright
  4. registered symbol
Вопрос 59

A(n) ________ gives you the right to preclude others from reproducing or copying your original published work.

  1. patent
  2. trademark
  3. industrial design
  4. copyright
Вопрос 60

A(n) __________ comprises the features of shape, configuration, pattern, or ornament applied to a finished article made by hand, tool, or machine.

  1. industrial design
  2. copyright
  3. patent
  4. trademark
Вопрос 61

Obtaining startup capital for a new business can be hard and requires:

  1. spunk, determination and hard work.
  2. a strong list of connections and resources.
  3. a good friend to introduce you to an angel investors.
  4. creativity, commitment, and determination.
Вопрос 62

The rate of interest that banks charge their "best customers" is called:

  1. the bank rate
  2. the prime rate
  3. the discount rate
  4. the coupon rate
Вопрос 63

Debt financing:

  1. does not have to be repaid
  2. allows investors to control the direction of the business
  3. requires servicing in the form of periodic interest payments
  4. is generally provided by government institutions
Вопрос 64

Equity investors expect to receive:

  1. monthly interest payments
  2. the principal amount of their investment returned on maturity of the loan
  3. a return on their investment in the form of dividends and the increased future value of the business
  4. a loan guarantee by the government
Вопрос 65

Debt financing involves the sale of _____, while equity financing involves the sale of _______.

  1. shares; stock
  2. stock; bonds
  3. bonds; stock
  4. accounts; bonds
Вопрос 66

The main purpose of an operating loan for the business start-up is to:

  1. supplement the basic working capital.
  2. help with operations.
  3. be used solely for the production of goods and services.
  4. pay off outstanding debts and credit cards that become due.
Вопрос 67

In which of the following exit strategies might the investor's shares be repurchased by the company (sometimes in the form of a put option or a retraction clause)?

  1. Buyback agreement
  2. Sale of the investor's interest to a third-party investor
  3. Acquisition by a third party
  4. Management or employee buyout
Вопрос 68

Which industries are increasingly using crowdfunding to raise funds?

  1. Textiles
  2. Technology and media
  3. Transportation
  4. Telephone
Вопрос 69

Recordkeeping is critical for the entrepreneur and cloud computing makes access convenient. What is another benefit of using an online software for entrepreneurs?

  1. Keeping receipts is no longer necessary.
  2. The account is backed up regularly and with no loss of your data.
  3. The entrepreneur can complete all the accounting functions removing the need for an accountant.
  4. Cloud accounting solutions are fairly new so are not as reliable as paper systems or an excel spreadsheet.
Вопрос 70

______ is the cash and other liquid assets you personally have or are prepared to invest in the business.

  1. Character
  2. Capital
  3. Collateral
  4. Capacity
Вопрос 71

_________ is the art of communicating with your customers and prospects without selling.

  1. Operational marketing
  2. Instructional marketing
  3. Content marketing
  4. Traditional marketing
Вопрос 72

Your elevator pitch should focus on:

  1. the market conditions and competitors.
  2. a ‘hook' or quick summary of your venture that can be easily remembered.
  3. the productivity efficiencies of your venture.
  4. the amount of financing your venture needs - this is why you are reaching out.
Вопрос 73

Which of the following is a conventional site designed to make money online by selling products?

  1. E-commerce site
  2. Sales letter e-commerce website
  3. The eBay auction model
  4. Blog
Вопрос 74

Search engine optimization (SEO) is the process of:

  1. making it easy for search engines, such as Google, Bing, Yahoo!, and MSN engines, and the public to find your website.
  2. data mining and collecting customer information.
  3. making sure that your website lands first on a Google search.
  4. optimizing the mobile customer experience
Вопрос 75

Online reputation management (ORM) is about:

  1. communicating your products and services in an interesting model to your customers.
  2. becoming an influencer in social media.
  3. influencing the way brands appear online.
  4. conducting damage control when your company makes an error in the market.
Вопрос 76

_______ has been designed for professionals to connect to do business together.

  1. LinkedIn
  2. Facebook
  3. Twitter
  4. Tumblr
Вопрос 77

In addition to networking, blogging, entrepreneurs need to be constantly:

  1. finding new ways to market their business.
  2. keeping an eye on their competitors' actions.
  3. looking for leads to increase your sales.
  4. looking for leads to increase your sales. calculating production costs and finances
Вопрос 78

Closing the deal is what stage of the sales pipeline?

  1. Stage 2: Show and Propose
  2. Stage 3: Consult, Negotiate, Commit, Win
  3. Stage 4: Post-Purchase
  4. Stage 1: Identify and Filter
Вопрос 79

Sealing the deal that translates goods or services into revenue is called:

  1. sealing the close.
  2. closing summary.
  3. closing the sale.
  4. market closing.
Вопрос 80

If a prospective client has an objection based on pricing, the best way to overcome this objection is to:

  1. offer the prospect discounts to gain their business
  2. show the prospect the value and benefits of what you're selling
  3. promise the prospect that you will beat the competitors' price
  4. convince the prospect that your product is superior to the competitors, thus explaining the higher price