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Business Essentials Chapter 6 Review Flashcards | StudBud
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Business Essentials Chapter 6 Review
Business Essentials Chapter 6 Review
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Flashcards
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Questions
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Answers
1
Small businesses employ only 10% of US workers.
True
False
2
An invention or creation that is brand new
innovation
revision
improvement
light bulb
3
What type of financing that is obtained for less than a year?
Start-up financing
Long-term financing
Short-term financing
4
What type of financing is used to open the business?
Long-term financing
Start-up financing
Short-term financing
5
What type of financing is used to pay for the current operating costs of the business?
Long-term financing
Start-up financing
Short-term financing
6
Money needed for the important resources of a business that will be used over many years is called
Start up Financing
Short Term Financing
Long-term financing
Venture Capital
7
A written description of a business idea and how it will be carried out.
business plan
To-Do list
graphic organizer
SWOT analysis
8
The process of starting, organizing and managing a business.
Entrepreneurship
Start Up
Financing
Accounting
9
A business plan includes a description of the strengths and weaknesses of competitors.
True
False
10
What type of financing would pay for the license to operate a business?
Short-term financing
Start-up financing
Long-term financing
11
What type of financing is used to purchase equipment to open a business?
Short-term financing
Start-up financing
Long-term financing
12
Someone who takes a risk to start a business
Franchise Owner
Entrepreneur
Venture Capitalist
Business Advisor
13
Successful entrepreneurs have many personal characteristics in common.
True
False
14
Start-up financing is money needed to pay the current operating costs of the business.
False
True
15
Most new business owners obtain start-up money to finance their business from banks.
False
True
16
A major designed change that increases the usefulness of a product, service or process.
Correction
Innovation
Improvement
Revision
17
An independent business with fewer than 500 employees.
large business
small business
partnership
corporation
18
An independent business with 200 employees is considered a small business.
False
True
19
Which of the following is NOT a characteristic of entrepreneurship in the US?
About 25% of job growth comes from businesses with less than 20 employees
About 625,000 news businesses are created each year
1 in 5 Americans have invested in a business of a friend or family member
Only 3% of people aged 16-64 are involved in entrepreneurship activity
20
The TV show "Shark Tank" shows entrepreneurs trying to secure...
credit
fame
a bank loan
venture capital
21
Money provided by large investors to finance new products & new businesses.
Bank loans
Venture Capital
Long-Term Financing
Stock Investment
22
What type of financing would include large purchases like lands, or real estate?
Long-term financing
Start-up financing
Short-term financing
23
What type of financing would pay for delivery trucks?
Long-term financing
Start-up financing
Short-term financing
24
The money needed for the current operating activities of the business
venture capital
short-term financing
start-up financing
long-term financing
25
The money needed to open a business is called
start up financing
long term financing
short term financing
venture capital
26
An entrepreneur is someone who takes a risk by starting his or her own business.
False
True
27
One of the main reasons that businesses fail is inadequate capital.
True
False
