Esame
Entrepreneurship Essentials Quiz
Test your knowledge on the principles of entrepreneurship with our engaging quiz! This quiz is designed to assess your understanding of crucial concepts, trends, and statistics related to entrepreneurship.
- Multiple choice format
- Covering various aspects of entrepreneurship
- Perfect for students, professionals, and enthusiasts alike!
Entrepreneurs provide the financing to individuals who think, reason, and act to convert ideas into commercial opportunities and create opportunities.
True
False
Entrepreneurship is the process of changing ideas into commercial opportunities and creating value.
True
False
Small businesses, those with less than 500 employees, represent over 99 percent of all employers, and account for about one-half of the gross domestic product in the United States.
True
False
Small high-technology firms are responsible for twice as many product innovations per employee and obtain more patents per sales dollar than large high-technology firms.
True
False
Nearly half of business failures are due to economic factors such as inadequate sales, insufficient profits, and industry weakness.
True
False
One study of Inc. magazine’s 500 high-growth firms suggests that about 88 percent of founders feel their firms’ successes are due to extraordinary ideas, while the remaining 12 percent feel their firms’ successes are due to exceptional execution of ordinary ideas.
True
False
Fads” are large societal, demographic, or technological trends or changes that are slow in forming but once in place continue for many years.
True
False
The so-called “baby boom” generation applies to people born in the United States during the 1946-1964 time period.
True
False
Environmental commerce, or e-commerce, involves the use of electronic means to conduct business online.
True
False
Reasonable estimates place non-employer (e.g., single person or small family) business started each year at less than 100,000.
True
False
Studies by Phillips and Kirchhoff, and by Headd, found that one-half of new firms or new employers were still in existence after four years of operation.
True
False
Successful entrepreneurs exhibit which of the following traits?
Recognize and seize commercial opportunities
Economic pessimism
Tend to be doggedly optimistic
Both a and b
Both a and c
About one-half of all newly created businesses in the U.S. Are dissolved or cease operations within how many years after being started?
2 years
4 years
6 y.
8 y.
Fads” are:
Not predictable
Have short lives
Do not involve macro changes
All of the above
E-commerce” refers to:
Environmental commerce
Electronic commerce
Economic commerce
Exploratory commerce
While entrepreneurial opportunities come from an almost unlimited number of sources, this textbook focuses on:
Societal changes
Demographic changes
Technological changes
Crises and bubbles
Emerging economies and global changes
All of the above
Nine principles of entrepreneurial finance are identified and explored in this entrepreneurial finance textbook,
True
False
The “time value of money” is an important component of the rent one pays for using someone else’s financial capital.
True
False
A venture’s financial objective is to survive.
True
False
Free cash flow is the net income forecast to be available to the venture’s owners over time.
True
False
Free cash is all the cash available to cover operating expenses
True
False
Owner-manager (agency) conflicts are differences between manager’s self-interest and that of the owners who hired the manager.
True
False
Entrepreneurial finance is the application and adaptation of financial tools and techniques to the planning, funding, operations, and valuation of an entrepreneurial venture.
True
False
The second stage in a successful venture’s life cycle is the startup stage.
True
False
The rapid growth stage directly follows the startup stage.
True
False
Maximizing the value of the venture to its owners is the common financial goal of which of the following?
The entrepreneur
The debtholders
The venture equity investors
Both a and b
Both a and c
Which one of the following possible conflicts of interest increases in divergence at venture gets close to bankruptcy?
Owner-manager conflict
Owner-employee conflict
Manager-employee conflict
Manager-debtholder conflict
Which of the following is not a life cycle stage of a successful venture?
Development stage
Startup stage
Survival stage
Cash cow stage
Early-maturity stage
Which of the following does not describe activity during the venture’s life cycle startup stage?
Venture’s organization
Venture’s development
Operating cash flows are generated
Initial revenue model is put in place
At which stage of the venture’s life cycle stage is best characterized by the period when revenues start to grow and when cash flows from operations begin covering cash outflows?
Survival stage
Startup stage
Rapid growth stage
Early-maturity stage
Indicate the number of principles of entrepreneurial finance that are emphasized in this textbook:
2
4
5
7
8
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