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


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

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

A business is owned and operated by only one person.
a) proprietorship
b) intermediary
c) franchise
d) producer

The first step in developing a business plan is to gather and review info.
a) true
b) false
c)
d)

The most important step in starting a business is developing confidence.
a) False
b) True
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)

Many small businesses fail simply because owners do not keep adequate records.
a) True
b) False
c)
d)

A large number of small businesses in the US are service businesses.
a) True
b) False
c)
d)

Most Americans are employed by a small business.
a) True
b) False
c)
d)

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