4.05 Understand Small Business Management and Entrepreneurship Activities and Careers

Question 1

Whichactivity/function includes organizing workflow anddeveloping policies and procedures?

Accepted Answer

Operations Management

Question 2

Entrepreneurshipis the process of starting and operating one’s own business.

Accepted Answer

True

Question 3

An .. is an individual who undertakes the risk associated with creating and owning a business.

Accepted Answer

Entrepreneur

Question 4

isan activity that is responsibly for profit and loss outcomes and tracking industry trends.

Accepted Answer

Strategic Management

Question 5

isan activity that develops strategies to reduce thenegative effects of risk and manage risk.

Accepted Answer

Risk Management

Question 6

Smallbusinesses must employ more than 100 employees.

Accepted Answer

False

Question 7

Thereare seven activities and functions performed by small business managers andentrepreneurs.

Accepted Answer

True

Question 8

Aconstruction contractor is not an example of a small business manager or entrepreneur.

Accepted Answer

False

Question 9

Whichactivity includes developing advertising plans-promotions andperforming market research?

Accepted Answer

Marketing

Question 10

Which activity includes managing cash flow, designingbudgets, and monitoring accounts?

Accepted Answer

Financial Management

Question 11

7 activities performed by small businesses owners do not improve management of the business.

Accepted Answer

False

Question 12

Anentrepreneur cannot start a small business based on business ideas that beginfrom hobbies.

Accepted Answer

False

Question 13

Small business is a business that is independentlyowned and operated.

Accepted Answer

True

Question 14

....is a independently owned business that employs 100 orfewer employees.

Accepted Answer

Small Business

Question 15

Computer Support Specialist and Education Consultants are examples of which type of career?

Accepted Answer

Small Business Management and Entrepreneurship

Question 16

Whichof the following is not an example of a career available in small businessmanagement?

Accepted Answer

E-Marketing

Question 17

Whena person starts their own business they become an entrepreneur and smallbusiness manager.

Accepted Answer

True

Question 18

Whichactivity includes research and interpreting data and making decisionsbased on data?

Accepted Answer

Information Management

Question 19

Types of business organization are sole proprietorship, partnership,corporation, and franchise

Accepted Answer

True

Question 20

isan activity that hires and terminates employees, provides training,and motivates employees.

Accepted Answer

Human Resource Management

Questions 20