Intro To Business Ch6 II: Question Preview (ID: 21680)

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Most Americans are employed by a small business.
a) True b) False c) d)
A large number of small businesses in the US are service businesses.
a) True b) False c) d)
Many small businesses fail simply because owners do not keep adequate records.
a) True b) False c) d)
It is not wise to start a new business when demand for the product or service you plan to sell is high, because already established companies will have a clear advantage over you.
a) False b) True c) d)
The most important step in starting a business is developing confidence.
a) False b) True c) d)
The first step in developing a business plan is to gather and review info.
a) true b) false c) d)
A business is owned and operated by only one person.
a) proprietorship b) intermediary c) franchise d) producer
The operating procedures for a corporation
a) corporate bylaws b) service business c) policies d) proprietorship
An automobile factory is this type of business
a) producer b) service c) franchise d) intermediary
Guidelines used in making consistent decisions
a) policies b) procedures c) franchise d) corporate bylaws
A grocery store is this type of business
a) board of directors b) procedures c) partnership d) franchise
The people who make the major policy and financial decisions for a corporation.
a) intermediary b) producer c) partnership d) procedures
a business owned and controlled by at least two people who have entered into a written agreement.
a) partnership b) proprietorship c) producer d) franchise
A written contract granting permission to operate a business.
a) franchise b) producer c) procedures d) partnership
An internet service provider is this type of business.
a) service businesses b) board of director c) franchise d) intermediary
Descriptions of the way work is to be done.
a) procedures b) franchise c) policies d) producer
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