Started on Friday, 18 November 2022, 3:37 PM

State Finished
Completed on Friday, 18 November 2022, 3:59 PM
Time taken 21 mins 20 secs
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Grade 100.00 out of 100.00
Question 1
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Why would a new business venture choose not to operate as a partnership?
Select one:

Difficulty in leaving a partnership

Limited life

all of the choices

Sharing of profits
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Question 2
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Advantages of economic scale are not present and the capital requirements to enter are low.
Select one:

Suppliers

Rivalry

New Entrants

Buyers
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Question 3
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A written summary of an entrepreneur’s proposed business venture, its operational and
financial details, its marketing opportunities and strategy, and its managers’ skills and abilities.
Select one:

Business Model

Business Strategy

Business Plan

Marketing Strategy
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Question 4
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Overview of industry or market segment.
Select one:

Marketing Strategy

Executive Summary

Business and Industry Profile

Business Strategy
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Question 5
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In General Partnerships, each partner is individually liable for all debts and contracts of the
partnership.
Select one:
True
False
Question 6
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An original, functional model of a new product that entrepreneurs can put into the hands of
potential customers so they can see it, test it and use it.
Select one:

prototype

trial

questionnaire

research
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Question 7
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Proving that a profitable market exists by showing customer interest and documenting market
claims.
Select one:

Executive Summary

Marketing strategy

Business and Industry Profile

Business Strategy
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Question 8
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Number of competitors is large or few (less than 5).
Select one:

Rivalry

New Entrants

Suppliers

Buyers
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Question 9
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Formed by people with similar interests, such as customers and suppliers.
Select one:

joint ventures
Cost and complexity of formation
stockholders

franchises

cooperatives
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Question 10
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Two or more companies form an alliance to pursue a specific project, usually for a specific time
period.
Select one:

stockholders

franchises

cooperatives

joint ventures
Cost and complexity of formation
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Question 11
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Question text
Which of the following is not a disadvantage of sole proprietorship?
Select one:

Large personal time commitment

none of the choices

Unstable business life

Difficulty in attracting qualified employees

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Question 12
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The company’s business model and basis for competitive edge.
Select one:

a.
Executive Summary

b.
Business Strategy

c.
Marketing Strategy

d.
Business and Industry Profil
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Question 13
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What Lenders and Investors Look for in a Business Plan?
Select one:

Capacity

Collateral

all of the above

Capital
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Question 14
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Which of the following is not a disadvantage of sole proprietorship?
Select one:

Limited managerial expertise

Unlimited liability of the owner for debts

none of the choices

Difficulty in raising capital

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Question 15
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Choose a form of organization by evaluating _____ .

Select one:

The desire of how to/not to share profits

The aims and objectives of the various business

all of the choices

the taxes
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Question 16
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which of the following is/are the Elements of a Business Plan?
Select one:
Description of Management Team

Pro Forma Financial Statements

Plan of Operation

all of the above

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Question 17
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Which of the following is/are the main forms of business organization?
Select one:

all of the choices

Ltd liability company

Partnership

Sole proprietor
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Question 18
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Choose a form of organization by evaluating _____ .
Select one:

The ability to attract employees

The degree of operating control the owner can retain

all of the choices

The taxes
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Question 19
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Quality _____ products are not readily available and the prices of which are not lower.
Select one:

suppliers

Rivalry

buyers

substitute
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Question 20
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Why would a new business venture choose to operate as a partnership?
Select one:

a.
all of the choices

b.
Diversity of managerial expertise

c.
Availability of capital

d.
Ease of formation
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Question 21
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which of the following is/are the Elements of Marketing Strategy?
Select one:

Advertising
Market Size and trend

all of the above

Location
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Question 22
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In Limited Partnerships, the dormant partners’ do not participate actively in the firm’s
operations.
.
Select one:
True
False
Question 23
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Company’s general business goals and the company’s immediate objectives.
Select one:

Business and Industry Profile

Executive Summary
Business Strategy

Marketing Strategy
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Question 24
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which of the following is/are the Elements of Marketing Strategy?
Select one:

all of the above

Distribution

Pricing

target market
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Question 25
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In Limited Partnerships, the dormant partners’ liability is limited to their investment.
Select one:
True
 False
Question 26
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What Lenders and Investors Look for in a Business Plan?
Select one:

Character

Conditions

all of the choices

collateral
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Question 27
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Why would a new business venture choose to operate as a partnership?
Select one:

all of the choices

Relative freedom from government control

Diversity of managerial expertise

Flexibility to respond to changing business conditions

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Question 28
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which of the following is/are the Elements of a Business Plan?
Select one:

Business Strategy

Company History

all of the above

Business and Industry Profile

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Question 29
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Which of the following is not an advantage of sole proprietorship?
Select one:
Ease and low cost of formation

Owner’s rights to all profits

none of the choices

Owner’s absolute control of the business

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Question 30
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Which of the following is/are disadvantage/s of Limited Liability company?
Select one:

Cost and complexity of formation

Government restrictions and regulations

Stable business life

Double taxation of profits

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Question 31
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 Flag question
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Which of the following is not an advantage of sole proprietorship?
Select one:

Absence of special taxes

Owner’s rights to all profits

Relative freedom from government regulation

none of the choices

Ease of dissolution
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Question 32
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The company’s target markets and the benefits its product or service will provide.
Select one:

Marketing Strategy

Business and Industry Profil

Executive Summary

Business Strategy
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Question 33
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Description of production process, strategic raw materials, sources, costs.
Select one:

Business Strategy

Description of Product or Service

Business and Industry Profile

Executive Summary
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Question 34
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Choose a form of organization by evaluating _____ .
Select one:

all of the choices

The ability to raise funds

The ease and cost of forming the business

Owner’s liability for firm’s debts

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Question 35
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The qualification of the founders and/or key employees and the key financial highlights.
Select one:

Marketing Strategy

Business and Industry Profile

Business Strategy

Executive Summary
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Question 36
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The process of determining whether an entrepreneur’s idea is a viable foundation for creating
a successful business.
Select one:
Business Plan

Marketing Strategy

Business strategy

Feasibility Analysis
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Question 37
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which of the following is/are the Elements of a Business Plan?
Select one:

all of the above

Description of the Firm’s Product or Service

Competitor Analysis

Marketing Strategy
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Question 38
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Existing or anticipated profitability of the industry.
Select one:

Marketing Strategy

Business and Industry Profile

Executive Summary

Business Strategy
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Question 39
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Which of the following is/are an advantage/s of Limited Liability company?
Select one:

Limited liability

Ability to deny financing

Stable business life

Ease of transferring ownership

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Question 40
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which of the following is/are the Elements of a Business Plan?
Select one:

Title Page and Contents

Executive Summary

Vision and Mission Statement

all of the above

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Question 41
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The switching costs to competitors is high and their numbers is large.
Select one:

Suppliers

Rivalry

Buyers

New Entrants
Feedback
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Question 42
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The purchase of a corporation by another corporation or investment group.
Select one:

cooperatives

joint ventures

Merger

Acquisition
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Question 43
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Why would a new business venture choose not to operate as a partnership?
Select one:

Potential for conflict between partners

Limited life
all of the choices

Unlimited liability for general partners

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Question 44
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In Limited Partnerships, each partner is controlled by one or more general partners who have
unlimited liability.
.
Select one:
True
False
Question 45
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which of the following is/are the Elements of a Feasibility Analysis?
Select one:

Financial Feasibility

Product or
Service Feasibility
Industry and
Market Feasibility

all of the above

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Question 46
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The business organization in which a franchisor supplies the product concept to the franchisee,
who sells the goods or services.
Select one:

franchises

cooperatives

joint ventures

stockholders
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Question 47
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In General Partnerships, each partner can co-own assets and share profits.
Select one:
 True
False
Question 48
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The combination of 2 or more firms to form a new company, which often takes a new corporate
identity.
Select one:

Acquisition

Merger

joint ventures

cooperatives
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Question 49
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They sell a commodity product to the companies in it.
Select one:

Rivalry

Buyers
Suppliers

New Entrants
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Question 50
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A legal entity with an existence and life separate from its owners, who therefore are not
personally liable for its debts.
Select one:

limited liability company

sole proprietorship

partnership

franchise
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