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POB - Chapter 6 Definitions
Test Description: Review
Instructions: Answer all questions to get your test result.
1) Venture capital is _______________.
A
a loan from the bank to start a business.
B
money from an investor who thinks the business will be successful.
C
ideas used in starting a business.
D
equipment needed to start a business.
2) A(n) ____________ is a creation that is brand new.
A
small business
B
venture
C
improvement
D
innovation
3) A small business is _____________.
A
100 or fewer employees
B
500 or fewer employees.
C
an independent company with no employees other than the owner
D
a government agency used to help companies with fewer than 500 employees
4) A _____________ is a written description of the business idea and how it will be carried out.
A
business plan
B
marketing plan
C
financial plan
D
operations plan
5) ___________ financing is used for things such as buying land for new buildings and upgrades to equipment.
A
Long-term financing
B
Start-up financing
C
Venture capital
D
Short-term financing
6) SBA stands for ______________.
A
Small Business Advocates
B
Small But Awesome
C
Smart Business Administration
D
Small Business Administration
7) All business owners are entrepreneurs.
A
true
B
false
8) The amount of money needed to open up a business is ___________.
A
smart financing
B
start-up financing
C
short-term financing
D
venture capital
9) It is much easier to improve an existing product than to come up with a brand new one.
A
true
B
false
10) Small businesses are much more apt to failing than large businesses. (In other words, more small businesses fail than large ones.)
A
true
B
false
*select an answer for all questions
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