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Entrepreneurship and Small Business Management Exam Questions with Correct Answers 2025
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Entrepreneurship and Small Business Management Exam Questions with Correct Answers 2025
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Entrepreneurship and Small BusinessManagement Exam Questions with
Correct Answers 2025
1.ZWhichZofZtheZfollowingZisZaZtypeZofZintangibleZbusinessZpropertyZthatZisZprotectedZbyZlaw:
A.ZAcreage
B.ZInventory
C.ZTrademark
D.ZEquipmentZ-ZCORRECTZANSWERZ-C
BasicZtortsZrelatingZtoZbusinessesZoftenZinvolveZdisputesZconcerning
A.ZemotionalZstress.
B.Zassaults.
C.Zdefamation.
D.Zcontracts.Z-ZCORRECTZANSWERZ-D
3.ZWhichZofZtheZfollowingZisZaZcharacteristicZofZaZbusiness-formatZfranchise:
A.ZTheZnameZofZtheZbusinessZisZchosenZbyZtheZfranchisee.
B.ZProductsZareZboughtZdirectlyZfromZtheZsupplier.
C.ZItZisZtheZleastZpopularZfranchiseZarrangement.
D.ZContinuousZassistanceZisZprovidedZbyZtheZfranchisor.Z-ZCORRECTZANSWERZ-D
4.ZLimitedZliability,ZindefiniteZlengthZofZlife,ZeaseZofZexpansion,ZlegalZentity,ZandZtransferZofZownershipZare
consideredZadvantagesZofZa
A.ZsoleZproprietorship.
B.Zpartnership.
C.ZtradeZunion.
D.Zcorporation.Z-ZCORRECTZANSWERZ-D
,5.ZChannelsZofZdistributionZbenefitZconsumersZby
A.ZincreasingZprofitsZforZbusinesses.
B.ZloweringZtheZpricesZofZallZconsumerZproducts.
C.ZraisingZtheZqualityZofZallZconsumerZproducts.
D.ZmakingZaZvarietyZofZproductsZavailableZtoZthem.Z-ZCORRECTZANSWERZ-D
6.ZForZwhichZofZtheZfollowingZmarketsZwouldZproducersZuseZaZshortZchannelZofZdistribution:
A.ZLocalZconsumers
B.ZGenerationZX
C.ZBabyZboomers
D.ZSeniorZcitizensZ-ZCORRECTZANSWERZ-A
7.ZIfZaZbusinessZconsidersZwhereZtheZconsumersZareZandZwhoZtheyZareZbeforeZselectingZaZchannelZof
distribution,ZtheZbusinessZisZconsideringZtheZ__________Zfactor.
A.Zhuman
B.Zpromotion
C.Zmarket
D.ZsalesZ-ZCORRECTZANSWERZ-C
8.ZWhatZdoZbusinessZemployeesZoftenZneedZtoZdoZbeforeZtheyZareZableZtoZwriteZproposals?
A.ZResearchZtheZproblem
B.ZAnalyzeZpersonalZbiases
C.ZContactZtheZcustomer
D.ZEvaluateZtechnicalZskillsZ-ZCORRECTZANSWERZ-A
9.ZWhichZofZtheZfollowingZisZanZexampleZofZaZmanagerZdevelopingZaZpolicyZthatZimpactsZcustomerZrelations
:
A.ZIncreasingZuseZofZsecurityZdevices
B.ZExtendingZbusinessZhoursZonZweekends
, C.ZRevisingZbookkeepingZprocedures
D.ZSchedulingZemployees'ZworkZhoursZ-ZCORRECTZANSWERZ-B
10.ZWhatZshouldZaZsuccessfulZbrandZpromiseZbeZableZtoZdo?
A.ZCustomizeZtheZproductZforZeachZcustomer
B.ZClarifyZtheZcompany'sZprocesses
C.ZCommunicateZanZappealingZbenefit
D.ZConveyZaZhigh-qualityZimageZ-ZCORRECTZANSWERZ-C
11.ZWhichZofZtheZfollowingZisZoneZwayZthatZfreedomZinZaZprivateZenterpriseZsystemZisZlimitedZbyZlaws:
A.ZCertainZoccupationsZmustZbeZlicensed.
B.ZAllZworkersZmustZtakeZabilityZtests.
C.ZSpecificZpayZscalesZareZregulated.
D.ZEmployeesZmustZregisterZwithZtheZstate.Z-ZCORRECTZANSWERZ-A
12.ZDuringZtheZmonthZofZJuly,ZsalesZatZHandy'sZShoeZMartZtotaledZ$2,500.ZTheZcostZofZtheZshoesZwasZ$1,02
5.
TheZownerZpaidZ$866ZforZsupplies,Zinsurance,Zrent,ZandZutilitiesZduringZtheZmonth.ZTheZ$609ZleftZover
representsZtheZowner's
A.ZnetZprofit.
B.ZgrossZprofit.
C.ZsalesZincome.
D.ZoperatingZexpenses.Z-ZCORRECTZANSWERZ-A
13.ZNon-corporationsZareZtaxedZasZpass-throughZentities,ZmeaningZthat
A.ZprofitsZandZlossesZareZclaimedZonZowners'ZpersonalZtaxZreturns.
B.ZtheyZdoZnotZhaveZtoZpayZpayrollZtaxes.
C.ZtheirZincomeZtaxZratesZareZlowerZthanZthoseZofZcorporations.
D.ZtheyZpayZonlyZstateZandZlocalZtaxes.Z-ZCORRECTZANSWERZ-A
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