Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
BML MidTerm 5
Test Description: BML Midterm, set 5
Instructions: Answer all questions to get your test result.
1) The largest source of revenue for the federal government is the
A
capital gains tax
B
inheritance tax
C
corporate income tax
D
personal income tax
2) A tax based on the value of goods or services collected by the seller at the time of a sale is called
A
transfer tax
B
purchase tax
C
gift tax
D
sales tax
3) Which of these is NOT a way a government can raise revenue?
A
sell bonds
B
collect taxes
C
administer fees
D
sell stock
4) Which of these is NOT generally true of entrepreneurs?
A
come from all educational backgrounds and age categories
B
have a high tolerance for ambiguity
C
very results-oriented
D
almost always owned their first business as a teenager
5) The most common source of funding for new businesses is
A
venture capitalists
B
the entrepreneur and his/her family and friends
C
the Small Business Administration
D
bank loans
6) The official designation of a small business is one with fewer than ___ employees.
A
500
B
100
C
50
D
1000
7) Small businesses
A
operate in many business locations.
B
have the best locations and are more efficient than large businesses.
C
generally offer lower prices than their larger competitors.
D
usually have the owner as a manager, are not dominant in their field, and serve a small market.
8) Which of these is NOT a reason location is important to most small businesses?
A
customers usually will not travel long distances to find what they need.
B
most retailers need good customer traffic to survive.
C
most owners will not drive to work if it is inconvenient.
D
many customers will stay away if the business is not easy to find.
9) Most successful small business owners
A
have never worked in their field before opening their business.
B
do not get along well with professionals such as bankers, lawyers and accountants.
C
don't need to worry about what kind of workers they hire since they are the boss.
D
know that a written business plan is important for getting financing and providing some direction
10) Which part of the business plan contains information about the short- and long-term financial needs of the business?
A
operations plan
B
description of the business
C
customer analysis
D
financial plans
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?