POB - Chapter 6 Definitions Question Preview (ID: 23715)


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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

All business owners are entrepreneurs.
a) true
b) false
c)
d)

SBA stands for ______________.
a) Small Business Administration
b) Small Business Advocates
c) Smart Business Administration
d) Small But Awesome

___________ financing is used for things such as buying land for new buildings and upgrades to equipment.
a) Start-up financing
b) Short-term financing
c) Long-term financing
d) Venture capital

A _____________ is a written description of the business idea and how it will be carried out.
a) marketing plan
b) operations plan
c) business plan
d) financial plan

A small business is _____________.
a) an independent company with no employees other than the owner
b) 100 or fewer employees
c) a government agency used to help companies with fewer than 500 employees
d) 500 or fewer employees.

A(n) ____________ is a creation that is brand new.
a) improvement
b) innovation
c) venture
d) small business

Venture capital is _______________.
a) a loan from the bank to start a business.
b) equipment needed to start a business.
c) money from an investor who thinks the business will be successful.
d) ideas used in starting a business.

It is much easier to improve an existing product than to come up with a brand new one.
a) true
b) false
c)
d)

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
c)
d)

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