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Management 4740 Quiz III Questions and Answers Rated A+
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Management 4740 Quiz III
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Management 4740 Quiz IIIThe _____ plan outlines the strategy that will be used to ensure that the business model
is sustainable and continues to scale over its life. - answergrowth
Proof of concept (POC) tests all involve fieldwork with the customer that should have
been accomplished during feasibility analysis. - answerTrue
Which of the following uses net income and net sales from the income statement to give
the percentage of each dollar of sales remaining after all costs of normal operations are
accounted for? - answerProfit Margin
The higher the _____, the more liquid the company is and the more easily its assets can
be converted to cash to pay off short-term obligations. - answercurrent ratio
Bill is a lender and is considering a loan for Joann and her new business venture. Which
of the following would NOT be one of Bill's concerns? - answerThe number of strategic
partners the venture has
The _____ looks at the financial health of a business at a single point in time. -
answerbalance sheet
Which of the following is an important benefit of demonstrating proof of concept (POC)
with a prototype? - answerChanges in the prototype can be made early in the process
when changes are less costly.
Which of the following gives employees the right to participate in the profits of a
company at a specified percentage, even though they are not full shareholders with
voting rights? - answerCapital appreciation rights
Companies are typically distributed in all of the following ways EXCEPT -
answercentrally
When entrepreneurs develop job descriptions, they should include _____ to prepare for
the eventuality of hiring employees. - answerbehavioral profiles
There probably is no single best organizational structure for all types of ventures in all
situations. - answertrue
An economic base is the region from which an entrepreneur expects to draw customers.
- answerfalse
, The number of shares authorized when a corporation is formed is purely arbitrary. -
answerTrue
_____ refers to an organization's tendency to develop its own characteristic way of
doing things. - answercorporate culture
Which of the following is NOT a component that makes up the design of an
entrepreneurial company? - answerLocation
_____ are subject to the ERISA rules for employee retirement programs. - answerprofit-
sharing plans
Entrepreneurs who subscribe to _____ will probably wish to provide warranties with
products and services. - answertotal quality management
The goal in _____ is to provide the exact service the customer wants at minimal cost. -
answerSupply chain management (SCM)
When it comes to operations, startups are simply smaller versions of large companies. -
answerfalse
Which of the following is NOT an input in the production process? - answerAssembly
Which of the following is an advantage of using an inventory management company? -
answerAll of these are correct
In a(n) _____, all partners assume unlimited personal liability and responsibility for
management of the business. - answergeneral partnership
Which of the following is NOT an advantage of a sole proprietorship? - answerThe
income from the business is taxed at a rate lower than the owner's personal income tax
rate.
As per the doctrine of _____, if one partner signs a contract with a supplier in the name
of the partnership, the other partners are also bound by the terms of the contract. -
answerostensible authority
A study done by the Small Business Administration (SBA) Office of Advocacy in 2011
found that _____ firms changed their legal form in the first four years of their existence.
- answerfewer than 1 in 10
Only about 5 percent of all U.S. businesses are _____, but they account for
approximately 62 percent of all business receipts. - answercorporations
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