70 Free Test Bank for Entrepreneurial Small Business 4th Edition by Katz

Enjoy us at 70 Free Test Bank for Entrepreneurial Small Business 4th Edition by Katz to take better understanding of this textbook and complete excellently your management course. Here, we offer lots friendly textbook samples of management test bank for 100% free online to help students who want to become professional for their next exam and future career, these questions cover all chapter contents by real examples in the life from author’s experience. Moreover, there are different topics to make students have critical thinking to solve issues namely the basis of small business, small business paths and plans, marketing in the small business, cash, accounting and finance in the small business, and management and organization in the small business. Let’s start practice to achieve an excellent result at your next examination, after completed this test, you can move on other question test banks to practice more. Good luck!

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(p. 5) The _____ is a U.S. government agency that helps people start a business and also provides them support and advocacy.

•  A. Small Business Administration
•  B. U.S. Department of Business Development
•  C. U.S. Department of Commerce
•  D. U.S. Entrepreneurial Administration

(p. 9) _____ tend to level off after success defined by sales of between $100,000 and $1,000,000, depending on the industry.

•  A. Lifestyle firms
•  B. Traditional small businesses
•  C. High-performing small businesses
•  D. High-growth ventures

(p. 9) Which of the following is true of a high-performing small business?

•  A. It often grows through multiple locations.
•  B. It aims to achieve growth rates of 25 percent or more a year.
•  C. It has sales of more than $1 million.
•  D. It has low levels of professionalization.

(p. 9) _____ are the smallest full-time business.

•  A. High-performing small businesses
•  B. Traditional small businesses
•  C. High-growth ventures
•  D. Lifestyle businesses

(p. 8) High-growth ventures differ from small businesses in that in high-growth ventures:

•  A. the focus is on efficiency rather than effectiveness.
•  B. the preferred source of funding is the owner's own money rather than other people's money.
•  C. the human resource system is personalized rather than professionalized.
•  D. the limitation of growth is dictated by market response rather than the owner's loss of control.

(p. 8) Which of the following is a characteristic of a small business?

•  A. Source of funding is primarily other people's money
•  B. Focus is on efficiency
•  C. Professionalized approach to human resource
•  D. Delegation is essential

(p. 10) _____ is a reward universally mentioned by entrepreneurs.

•  A. Industry recognition
•  B. Peer admiration
•  C. Political power
•  D. Work flexibility

(p. 6) Small businesses are usually:

•  A. imitative in nature.
•  B. characterized by the novelty of their products.
•  C. the same as high-growth ventures.
•  D. not affected by market fluctuations.

(p. 9) Which of the following is a characteristic of a high-growth venture?

•  A. It pursues low levels of professionalization.
•  B. It levels off after operations settle into a consistent, money-making pattern.
•  C. It aims to achieve growth rates of 25 percent or more a year.
•  D. Its success is defined by sales of between $100,000 and $1,000,000 annually.

(p. 8) Which of the following is true of a high-growth venture?

•  A. It considers sales as more important than marketing.
•  B. Its metastrategy is novelty.
•  C. It focuses more on efficiency than on effectiveness.
•  D. It does not allow for easy delegation of work or responsibilities.

(p. 8) Which of the following is a difference between a small business and a high-growth venture?

•  A. For a small business, the preferred funding source is other people's money, whereas for a high-growth venture, it is the owner's own money.
•  B. For a small business, the personal control preference is to involve others, whereas a high-growth venture prefers to retain autonomy.
•  C. A small business focuses on effectiveness, whereas a high-growth venture focuses on efficiency.
•  D. A small business grows when necessary, whereas a high-growth venture grows when possible.

(p. 8) Which of the following is a characteristic of a lifestyle firm?

•  A. It starts small and grows very rapidly to become a big business.
•  B. It represents about 20 percent of all businesses.
•  C. It typically has sales of $25,000 a year or less.
•  D. It aims to achieve growth rates of 25 percent or more a year.

(p. 7) Which of the following is true of a franchise?

•  A. It is the international term for all small businesses.
•  B. It is a type of novelty organization.
•  C. It is an organization that provides loans to start small businesses.
•  D. It is a prepackaged business bought, rented, or leased from a company.

(p. 8) Small businesses differ from high-growth ventures in that in small businesses:

•  A. the focus is on effectiveness rather than efficiency.
•  B. the preferred source of funding is the owner's own money rather than other people's money.
•  C. the delegation of responsibilities is easy and necessary rather than difficult.
•  D. the metastrategy is for novelty rather than imitation.

(p. 7) A business run by the individual who owns it is referred to as a(n) _____.

•  A. franchise
•  B. owner-managed firm
•  C. professionally-owned business
•  D. novelty firm

(p. 9) Which of the following is a characteristic of a traditional small business?

•  A. It is often a one-site business.
•  B. It follows a continuous growth curve.
•  C. It defines its schedules based on the owner's needs.
•  D. It generally has sales between $100,000 and $1,000,000 depending on the industry.

(p. 8) Which of the following is an attribute of a high-growth venture?

•  A. Its preferred funding source is the owner's own money.
•  B. Its metastrategy is imitation.
•  C. It grows when necessary.
•  D. It considers delegation essential.

(p. 10) Which of the following rewards refer to the money made from owning a business?

•  A. Growth rewards
•  B. Flexibility rewards
•  C. Income rewards
•  D. Performance rewards

(p. 9) Which of the following categories does the majority of small businesses fall under?

•  A. High-growth ventures
•  B. High-performing small businesses
•  C. Lifetime/Part-time firms
•  D. Traditional small business