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Business Foundations Chapters 5 & 6 Flashcards | StudBud
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Business Foundations Chapters 5 & 6
Business Foundations Chapters 5 & 6
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Business Foundations - Business Organization and Entrepreneurship
Flashcards
15 cards
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Questions
15
Answers
1
A government agency that helps entrepreneurs develop business plans and obtain financing
Retired Executives Adm.
Treasury Dept.
Small Business Administration
IRS
2
There is no difference between policies and procedures.
False
True
3
The direction for a business comes from its
corporate bylaws
policy manual
mission statement
code of ethics
4
A written description of a business idea and how it will be carried out is called
Business Plan
Technical manual
Procedure manual
5
The number of contingent workers in the United States is expected to
Increase by 10%
Decrease
Increase
More than double
6
Two or more other businesses that operate for a limited timeand for a specific project is a
joint venture
partnership
limited liability corporation
franchise
7
The American private enterprise system discourages risk-taking and innovation.
False
True
8
Business ideas can come from
business experiences
all of the above
hobbies
books
9
An independent business with 150 employees is considered a small business
True
False
10
All of the following types of businesses are producers EXCEPT
farmers
manufacturers
retailers
extractors
11
Baby boomers have dominated the U.S. labor market since they began working in the
1970's
1980's
1950's
1960's
12
Personal characteristics of successful entrepreneurs include
pessimism
greed
recklessness
persistence
13
Money provided by large investors to finance new products and new businesses
venture capital
improvement
short term financing
14
Most states require proprietorships to register a business name.
False
True
15
Most Americans are employed by small businesses
True
False
