Entre Final Review

Question 1

One purpose of a business plan is to help keep employees and management focused

Accepted Answer

True

Question 2

In your business plan, this refers to the long term outlook of your business, and what you ultimately want it to become

Accepted Answer

Vision statement

Question 3

Secondary data is information collected for the very first time to fit a specific purpose

Accepted Answer

False

Question 4

What of the below is an advantage to a franchise?

Accepted Answer

Training and support

Question 5

This level of management supervises non-management employees, including training, motivating, and evaluating

Accepted Answer

First line Management

Question 6

This type of customer profile looks at data that describes people based on their age, marital status, gender, ethnicity

Accepted Answer

Demographics

Question 7

During this phase of the product life cycle sales increase and begin to peak, as competition increases.

Accepted Answer

Maturity

Question 8

Finish the accounting equation: Assets = Liabilities + _____

Accepted Answer

Owner's equity

Question 9

Revenue is best defined as:

Accepted Answer

The increase in the amount of assets the firm earns

Question 10

This marketing era focused on building long term customer relationships

Accepted Answer

Relationship

Question 11

This motivation theory states that perceptions of fairness directly impacts worker motivation

Accepted Answer

Equity Theory

Question 12

One of the doorways to business ownership is buying a franchise

Accepted Answer

True

Question 13

This type of Entrepreneur's goal is a cash payout

Accepted Answer

Serial Entrepreneur

Question 14

A person or firm that invests in small companies with potential for growth, using money from investment companies

Accepted Answer

Venture Capitalist

Question 15

Which of the business formations below are NOT taxed at the individual level

Accepted Answer

Corporation

Question 16

Management is the achievement of organizational goals through ____, leading, organizing, and controlling

Accepted Answer

planning

Question 17

Individuals that are interested in a particular product or service and are willing and able to pay for it

Accepted Answer

Target Market

Question 18

Long term assets are those a business can expect to use longer than ___ months

Accepted Answer

12

Question 19

Business cards are a big deal in which country?

Accepted Answer

Japan

Question 20

The process of communicating through non verbal signals including posture, facial expressions, and gestures

Accepted Answer

body language

Question 21

In this Era, the the power shifted to consumers, branding began to develop to help consumers choose among options.

Accepted Answer

Marketing Era

Question 22

Current assets can be found on the income statement

Accepted Answer

False

Question 23

Which of the following is NOT a reason small businesses fail

Accepted Answer

Offering a product too many people want

Entre Final Review

Questions 23

Entre Final Review

Questions 23