Test Bank for Small Business Management, 20th Edition by Longenecker
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Course
Management
Institution
Management
Test Bank for Small Business Management: Launching & Growing Entrepreneurial Ventures 20e 20th Edition by Justin G. Longenecker, J. William Petty, Leslie E. Palich, Frank Hoy. ISBN-13: 8803
Full Chapters test bank included - Chap 1 to 23 (Complete Chapters)
1. The Entrepreneurial Life.
2. In...
Chapter 01 - The Entrepreneurial Life
The Entrepreneurial Life
True / False
1. The universally accepted definition of the term small business is based solely on the number of people employed by the
firm.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Small Business and Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: LONG.SMAL.23.01.02 - LO: 1-2
NATIONAL STANDARDS: United States - BUS PROG: Promotion
United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
TOPICS: Creation of Value
KEYWORDS: Bloom's: Understand
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:56 AM
2. There is no single definition of entrepreneurship.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Small Business and Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: LONG.SMAL.23.01.02 - LO: 1-2
NATIONAL STANDARDS: United States - BUS PROG: Promotion
United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
TOPICS: Creation of Value
KEYWORDS: Bloom's: Understand
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:56 AM
3. An entrepreneur who bootstraps would resort to bartering or using a personal credit card.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Moderate
REFERENCES: 1-2 Small Business and Entrepreneurship
. Page 1
, QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: LONG.SMAL.23.01.02 - LO: 1-2
NATIONAL STANDARDS: United States - BUS PROG: Promotion
United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
TOPICS: Operations Management
KEYWORDS: Bloom's: Remember
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:57 AM
4. Entrepreneurs should avoid hiring mediocre people.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-2 Small Business and Entrepreneurship
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: LONG.SMAL.23.01.02 - LO: 1-2
NATIONAL STANDARDS: United States - BUS PROG: Promotion
United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
TOPICS: Operations Management
KEYWORDS: Bloom's: Remember
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:58 AM
5. Research departments of big businesses tend to focus on innovating and creating new products.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Easy
REFERENCES: 1-3 Can a Small Company Really Compete with Big Companies?
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: LONG.SMAL.23.01.03 - LO: 1-3
NATIONAL STANDARDS: United States - BUS PROG: Promotion
United States - BUSPROG: Analytic | Technology - BUSPROG: Analytic
TOPICS: Operations Management
KEYWORDS: Bloom's: Remember
DATE CREATED: 11/12/2021 6:41 PM
DATE MODIFIED: 4/1/2022 9:58 AM
6. Managers who buy out founders of existing firms may be classified as second-stage entrepreneurs.
. Page 2
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