4.05 Understand Small Business Management and Entrepreneurship Activities and Careers

Question 1

is an activity that hires and terminates employees, provides training, and motivates employees.

Accepted Answer

Human Resource Management

Question 2

Which activity includes research and interpreting data and making decisions based on data?

Accepted Answer

Information Management

Question 3

Which activity includes managing cash flow, designing budgets, and monitoring accounts?

Accepted Answer

Financial Management

Question 4

A construction contractor is not an example of a small business manager or entrepreneur.

Accepted Answer

False

Question 5

There are seven activities and functions performed by small business managers and entrepreneurs

Accepted Answer

True

Question 6

Entrepreneurship is the process of starting and operating one’s own business.

Accepted Answer

True

Question 7

Which activity includes developing advertising plans-promotions and performing market research?

Accepted Answer

Marketing

Question 8

is an activity that develops strategies to reduce the negative effects of risk and manage risk.

Accepted Answer

Risk Management

Question 9

An is an individual who undertakes the risk associated with creating and owning a business.

Accepted Answer

Entrepreneur

Question 10

Which activity/function includes organizing workflow and developing policies and procedures?

Accepted Answer

Operations Management

Question 11

An entrepreneur cannot start a small business based on business ideas that begin from hobbies.

Accepted Answer

False

Question 12

When a person starts their own business they become an entrepreneur and small business manager.

Accepted Answer

True

Question 13

Which of the following is not an example of a career available in small business management?

Accepted Answer

E-Marketing

Question 14

Small business is a business that is independently owned and operated.

Accepted Answer

True

Question 15

7 activities performed by small businesses owners do not improve management of the business.

Accepted Answer

False

Question 16

Computer Support Specialist and Education Consultants are examples of which type of career?

Accepted Answer

Small Business Management and Entrepreneurship

Question 17

Types of business organization are sole proprietorship, partnership,corporation, and franchise

Accepted Answer

True

Question 18

....is a independently owned business that employs 100 orfewer employees.

Accepted Answer

Small Business

Question 19

is an activity that is responsibly for profit and loss outcomes and tracking industry trends.

Accepted Answer

Strategic Management

Question 20

Small businesses must employ more than 100 employees.

Accepted Answer

False

Questions 20