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

An automobile factory is this type of business
a) producer
b) service
c) franchise
d) intermediary

A grocery store is this type of business
a) retail
b) procedures
c) partnership
d) franchise

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

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