Entrepreneurship DECA exam questions Test 1230

Question 1

What should a successful brand promise be able to do?

Accepted Answer

Communicate an appealing benefit

Question 2

__ is a business that requires a person to buy the right to sell an established product under the parent company's name.

Accepted Answer

Franchise

Question 3

What is a primary factor that small-business owners should consider when deciding to hire additional staff members?

Accepted Answer

payroll expenses

Question 4

A person who is a high achiever is often positively viewed by others as a

Accepted Answer

leader

Question 5

Jacob is developing an inventory list of items to sell to customers. What type of planning activity is Jacob focusing on

Accepted Answer

Operational

Question 6

What is a possible downside of obtaining investment from venture capitalists?

Accepted Answer

Sharing company ownership

Question 7

What is the first step in entrepreneurial discovery?

Accepted Answer

Identifying an unmet want or need

Question 8

The first step in becoming a leader is

Accepted Answer

believing you can do it

Question 9

A small-business owner might register for trademark protection for the company's

Accepted Answer

logo

Question 10

Which of the following helps the reader find specific elements of a formal report:

Accepted Answer

Table of Contents

Question 11

Which of the following is an example of an uninsurable risk:

Accepted Answer

Customer buying habits

Question 12

Which of the following is the type of tax that businesses must collect from customers when they purchase goods/services

Accepted Answer

Sales

Question 13

The entrepreneurs best equipped to work long hours and overcome obstacles are ones who possess

Accepted Answer

passion for their work

Question 14

When determining venture-creation opportunities, entrepreneurs must first

Accepted Answer

conduct research

Question 15

Which of the following prevents individuals other than the holder from making, selling, or using an invention:

Accepted Answer

Patent

Questions 15