What is noted about the ability of partnerships and corporations to raise capital?

Partnerships often require partners to invest more personal resources

he Dodd-Frank Act of 2010

Tightened regulation of credit rating agencies

What is one of the first decisions Ben and Jerry had to make when starting their business

Deciding whether to form a partnership or corporation

The overall purpose of the government laws that impact business isto:

Protect the free enterprise system

The Sarbanes-Oxley Act of 2002

establishes new or enhanced standards for all public accounting firms

Which is NOT an advantage of Globalization

Protection of domestic industries

What was unique about the minimum buy-in for shares offered by Ben and Jerry?

It was set at a low amount to allow people of limited wealth to invest

What is a key point about innovation

: is primarily about making minor improvements toexisting products

What is required to create a corporation as opposed to a partnership

A charter from the state government

Government tarrifs benefit

Producers of a product with tariff

Studies siggest the leadership of the organization

Plays an essential role in ethical behavior

The business model canvas

creates a graphic and direct discussion and action towards results

Why did Ben and Jerry decide to go public with their company?

To raise capital for business expansion.

What is referred to as a 'purposeful accident' in the context of innovation

Intentional setups within, to foster unexpected innovative outcomes

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BOSCHA- MIDTERM 3

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Questions 92

Answers

1
What is noted about the ability of partnerships and corporations to raise capital?
Partnerships can easily attract large investments due to mutual agency
Partnerships often require partners to invest more personal resources
Corporations are unable to issue stock to raise capital
Corporations may struggle to attract new investors due to limited liability
2
Taxes in imported goods
Import quota
Levy
Trade protection
Tariff
3
Obeying the law is ___ ethical behavior
The same as
The opposite
Unlikely to lead to
The first step towards
4
he Dodd-Frank Act of 2010
Sets mandatory capital requirements
Determines the moral responsibilities of a business to its stakeholders
Provides community employment benfits
Tightened regulation of credit rating agencies
5
What is one of the first decisions Ben and Jerry had to make when starting their business
Deciding whether to form a partnership or corporation
Choosing a location for their store
Selecting a name fot their parlor
Determining what flavors of ice cream to produce
6
Which business is the easiest to form
Partnership
Sole proprietorship
LLC
All of the above
7
We want to list the positives and negatives of each alternative. We may benefit by using:
SWOT
Brainstorming
Modeling
PMI
8
A contractual agreement someone sells a business idea and gives the rights to use the name and sell a product in a area
Exporting
Franchising
Strategic alliance
Joint Venture
9
A corporation is a legal entity in the eyes of the law. Which of the following can it do
Borrow Money
All of the above
Sue in court and be sued
Buy and sell property
10
Developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done describes
Contingency planning
Stategic planning
Tactical planning
Operational planning
11
Which of the following is required for enforcing a legal contract
All of the above
Contractual capacity
Consideration
Voluntary agreement
12
Setting work standards and schedules necessary to implement thefirm’s tactical objectives describes
Strategic
Operational
Contingency
Tactical
13
Current trade data shows one country exports far more to othernations than it imports. This country has
Trade surplus
Unfavorable balance of trade
Low balance of trade
Trade deficit
14
A purposeful unlawful act to deceive or manipulate in a dishonestway to trick people
Tort
Fraud
Negligence
Breach of contract
15
Which stockholders usually have the right to vote for the Board of Directors?
Shared
Preferred
Common
All of the above
16
There is no global or international system of laws anf therefore laws may be inconsistent
False
True
17
A ___ will protect the use of symbols, shapes, colors, and sounds– all part of a firm’s ‘trade dress
Trademark
Patent
IP
Copyright
18
Criminal and covil law are derived from these sources
administrative law
all of the above
precedents
statuary law
19
Which term refers to the movement of goods and services amongnations without political or economic barriers
Comparative advantage
Free trade
Mutually beneficial exchange
absolute advantage
20
The overall purpose of the government laws that impact business isto:
Protect the free enterprise system
Increase taxes
All of the above
Prohibit foreign competition
21
The Sarbanes-Oxley Act of 2002
defines all ethical business behavior
establishes new or enhanced standards for all public accounting firms
sets mandatory capital requirements
provides community employment benefits
22
Which is NOT an advantage of Globalization
Potential increased revenue
Protection of domestic industries
Access different materials
Potential decreasted cost
23
Violations of ___ law may result in fines, but not imprisonment
Civil
Criminal
Statuary
Administrative
24
I give up a portion of ownership through____ financing
Property
Real
Equity
Debt
25
Equity financing is about ownership not about borrowing
False
True
26
When the US dollar is weak the cost of foreign goods is:
More expensive
The same
Less expensive
27
What was unique about the minimum buy-in for shares offered by Ben and Jerry?
It was set at a low amount to allow people of limited wealth to invest
It was comparable to other public offerings at the time.
It was set at a high level to attract wealthy investors.
It was designed to exclude small investors.
28
What is a key point about innovation
: should focus on aesthetics rather thanfunctionality
: is less important than financial management inentrepreneurship.
: involves creating new ideas that movebeyond existing concepts.
: is primarily about making minor improvements toexisting products
29
Which business entity is the easiest to form?
Limited liability company
All of the above
Sole proprietorship
Partnership
30
About what percent of the US population is actively pursuing a new business venture?
50%
72%
10%
1%
31
What is required to create a corporation as opposed to a partnership
A charter from the state government
A fixed number of business partners
A partnership agreement
Agreement between two or more parties
32
Alternative dispute resolution method is a form of negotiation involving a third-party to reach a binding settlement
Mediation
Binding arbitration
Non binding arbitration
Jurisdiction
33
Government tarrifs benefit
Producers of a product with tariff
Consumers and producers
Consumers of product with tariff
Neiher consumers nor producers
34
Studies siggest the leadership of the organization
Operates autonomously that it has no impact
Is irrelevatn to ethics
Plays an essential role in ethical behavior
has marginal influence on ethical behavior
35
The business model canvas
requires a formalized manuscript
all of the above
creates a graphic and direct discussion and action towards results
guarentees results
36
Ethical issues may occur due to
Unrealistic or poorly defined performance goals
All of the above
Differing personal ethics code
Ignorance
37
Most CEOs come from:
Outside the firm
Competing firms
Top tier colleges
Within the firm
38
Which factor was NOT listed as a reason for business failures
Lack of a succession plan
Operational inefficiencies
Dysfunctional management
Poor customer service
39
Which business entity has the longest possible life?
Partnership
Sole proprietorship
Limited liability company
Corporation
40
A sole proprietorship introduces a form of risk
True
False
41
Which business entity has the most government regulation?
Limited liability company
Sole proprietorship
Corporation
Partnership
42
Which are areas of disagreement in the Globalization Debate
The effect on the worlds poor
Jobs and income
National soverigenty and culture
All of the above
43
In a general partnership, each partner is liable only for the debts he or she incurs
True
False
44
Why did Ben and Jerry decide to go public with their company?
To raise capital for business expansion.
To limit their personal financial exposure.
Because they were advised to by legal counsel.
To implement a state-wide marketing strategy.
45
This tool identifies external opportunities and threats
Modeling
PMI
SWOTT
Brainstorming
46
Which of the following is an advantage of the corporate form of organization?
Smooth transfer of ownership
Limited lifespan
Expense of creation
Unlimited liability
47
Which allows the profits to belong to the owners?
Corporation
Partnership
Sole proprietorship
All of the above
48
What is referred to as a 'purposeful accident' in the context of innovation
Legal issues that result from new product developments
Marketing strategies that fail to meet their objectives
Mistakes that lead to financial losses
Intentional setups within, to foster unexpected innovative outcomes
49
A business ___ obey the law or deal with consequences.
MUST
CAN
MIGHT
SHOULD
50
A ___ will protect the creators of original works of authorshipsuch as literary, dramatic, musical, and artistic works
Patent
Servicemark
Intelectual property
Copyright
51
A partnership firms establish to help each buildcompetitive advantage but do not share risk and profits isconsidered
Licensing
Strategic alliance
Franchising
Joint ventures
52
Which of the following is an advantage of the corporate form oforganization?
Smooth transfer of ownership
Limited lifespan
Unlimited liability
Double taxation
53
Firms that place value on ethical behavior and foster aculture and climate that originates at the __ of the organization
Bottom
Center
Top
Middle
54
Setting work standards and schedules necessary to implement the firm’s tactical objectives describes:
Strategic planning
Operational planning
Tactical planning
contingency planning
55
An IPO is when many entrepreneurs realize the largest paycheck from their business
False
True
56
A feasibility analysis:
Provides all the detail a bank would require for a business loan
All of the above
Is an initial way to “test” the viability of the business concept
Determines “yes” this business is a “go
57
If global trade experts predict that the value of the dollar willsoon fall, it will result in
Both prices of imported goods & US goods sold overseas falling
prices of imported goods rising and prices of US goods sold overseas rising
Prices of imported goods rising but prices of US goods soldoverseas falling
Prices of imported goods falling but prices of US goods soldoverseas rising
58
When two firms voluntarily combine to form a new firm, it is called:
An acquisition
A leveraged buyout
A joint venture
A merger
59
US firms must follow US laws while conducting global business
False
True
60
Exporting produces jobs for the exporting country
False
True
61
The value proposition is based on
All of the above
"selling" the business concept
Product or service offered
Solving a customer need
62
What is the legal obligation of a corporation
Acquire wealth for stockholders
Benefit society
Be responsible corporate citizen
Do the right thing
63
These skills are most needed at the very top of every organization
Human resource skills
Conceptual
Technical
All of the above
64
About what percent of the US population is actively pursuing a new business venture?
50%
1%
10%
72%
65
Equity financing is about ownership, not about borrowing.
True
False
66
Is an initial way to “test” the viability of the business concept
False
True
67
I will have to pay interest on ____ financing.
Neither
Debt and equity
Equity
Debt
68
Which company was used as an example of the “Shift to Service Economy” entrepreneurial trend?
Space x & Tesla
Airbnb
Microlending fund
Khan Academy
69
A partnership in which firms join to undertake a major project andshare technology and risk is considered
Franchising
Licensing
Joint ventures
Strategic alliances
70
In which form of organization do owners have limited liability?
Partnership
Limited Liability Company
Sole propretorship
Partnership
71
patent gives inventors exclusive rights to their inventions for
A lifetime
10 years
20 years
5 years
72
Which business entity involves the concept of mutual agency?
Partnership
Limited liability company
All of the above
Sole proprietorship
73
A ___ will protect others from copying the unique design of aphysical product
Copyright
IP
Patent
Trademark
74
what role does Intrepreneurship play in large organizations
refers to the process of taking over smaller companies
reducing the size of the workforce
involves applying an entrepreneurial mindset in an established organization
focused on cutting operational costs only
75
Which business entity has double taxation?
Sole proprietorship
Limited liability company
Corporation
Partnership
76
Although the FTC regulates a variety of business practices, it allocatesa large portion of its resources to curbing
Misleading pricing
All fo the above
Deceptive packing
False advertising
77
I want to raise $100K for my new venture, but do not want anyone else in control An Angel Investor may be a good option
True
False
78
A sales channel may include:
All of the above
Online stores
Vending machines
Retail stores
79
Alternative dispute resolution is a form of negotiationinvolving a third-party to help reach a non-binding settlement?
Juristdiction
All of the above
Mediation
Arbitration
80
The four functions of management include:
Planning, organizing, learning, controlling
Plotting, organizing, leading, controlling
Planning, organizing, leading, controlling
81
When the Us dollar is trading for less than a foreign currency the costs of foreign goods are
Less expensive
More expensive
None of the above
The same
82
An ethical dilemma refers to a situation where you must
Treat someone unfairly
Balance the concerns of profit and legality
Choose between equally unsatisfactory alternatives
Choose between a correct and incorrect option
83
A disadvantage of an IPO is:
Improving the firm’s image
An influx of capital
All of the above
Jeopardizing the firm’s image
84
Examples of key activities include
Physical, intelectual, human
Production, problem solving, supply chain management
All of the above
Revenue, value, pricing
85
Which entities have the greatest challenges acquiring capital?
Partnerships & LLCs
Sole proprietorships & partnerships
Partnerships & LLCs
LLCs & corporations
86
Limits on the number of products a nation can import is best described as:
Trade protectionism
Import quota
Embargo
Tariff
87
Why were Ben and Jerry advised against going public according to their financial advisors?
It would force them to sell the company.
It would allow too many people to become shareholders.
It would expose their financials to the public.
It would limit their ability to raise capital.
88
Which business entity has double taxation
LLC
Sole proprietorship
Corporation
Partnership
89
This tool identifies internal strengths and weaknesses
Brainstorming
Modeling
SWOT ANALYSIS
PMI
90
Entrepreneurs and their ventures:
Are innovative
Create jobs
Are highly adaptive
All of the above
91
A potential negative impact of outsourcing may include:
Reduction in domestic jobs
Loss of cultural integrity
Increased taces
Higher tariff regulations
92
Why is it common for a growing business to outgrow the entrepreneurial skills of its founder?
Founders often lack the technical skills needed for businessoperations.
Founders may not possess the leadership skills needed as the business expan
Founders usually prefer working alone rather than in teams
Founders tend to focus more on innovation than onprofitability

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