,1. The Small Business Administration (SBA) estimates that there are over 220 million small businesses in the United
States.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: p. 3
LEARNING OBJECTIVES: Cognero 33A9A15544774BCCBD920E1D - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
2. The Small Business Administration (SBA) estimates that there are 25.8 million small businesses in the United States.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: p. 3
LEARNING OBJECTIVES: Cognero 4111882A6BC74B5685EB59F5 - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
3. According to the Small Business Administration, 52 percent of all small businesses are home based.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 4
LEARNING OBJECTIVES: Cognero 33A9A15544774BCCBD920E1D - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
4. Of all U.S. companies exporting goods, few are classified as small businesses.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: p. 3
LEARNING OBJECTIVES: Cognero 4111882A6BC74B5685EB59F5 - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
,KEYWORDS: Bloom's: Knowledge
5. Over 99 percent of all businesses are classified as small.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 3
LEARNING OBJECTIVES: Cognero 33A9A15544774BCCBD920E1D - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
6. Small businesses create more than 50 percent of all private U.S. gross domestic product (GDP).
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 4
LEARNING OBJECTIVES: Cognero 4111882A6BC74B5685EB59F5 - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
7. According to Figure 1.1, almost all businesses are small businesses.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 4
LEARNING OBJECTIVES: Cognero 33A9A15544774BCCBD920E1D - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
8. There are several definitions for small business; however, the most common criterion is the number of employees
working for that business.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 4
LEARNING OBJECTIVES: Cognero 33A9A15544774BCCBD920E1D - 1.1
DISC: Strategy
, NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
9. A manufacturer with fewer than 500 employees is classified as a small business.
a. True
b. False
ANSWER: True
POINTS: 1
REFERENCES: p. 5
LEARNING OBJECTIVES: Cognero 33A9A15544774BCCBD920E1D - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
10. The industry that employs the largest number of people in small business is the finance and insurance industry.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: p. 6
LEARNING OBJECTIVES: Cognero 4111882A6BC74B5685EB59F5 - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's: Knowledge
11. The manufacturing industry employs the greatest number of people in small business.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: p. 6
LEARNING OBJECTIVES: Cognero 4111882A6BC74B5685EB59F5 - 1.1
DISC: Strategy
NATIONAL STANDARDS: United States - AACSB: Analytic
STATE STANDARDS: United States - OH - DISC: Strategy
KEYWORDS: Bloom's Knowledge
12. In the construction industry 90 percent of the companies are classified as small businesses.
a. True
b. False
ANSWER: False
POINTS: 1
REFERENCES: p. 6
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