BUSI 3004-1, MGMT-3106-1-Entrepreneurship for Small Bus; Week 3 Midterm Exam (150 out of 50)

1. Question: When it comes to decision making, in a limited partnership: 2. Question: Entrepreneurs should purchase insurance 3. Question: Entrepreneurial management dies from traditional management in all of the following ways, except: 4. Question: Which of the following documents is not usually included in the Financial Plan? 5. Question: Which of the following software programs could be used for inventory, order entry, and billing? 6. Question: Trade secrets are protected: 7. Question: To build a successful organization culture the entrepreneur: 8. Question: In an S corporation: 9. Question: Why do traditionally managed firms prefer to grow at a slow and a steady pace? 10. Question: In a traditionally managed firm, management and employees are rewarded by: 11. Question: S corporation status means: 12. Question: The organization plan describes the business': 13. Question: Which of the following are likely to be fixed costs? 14. Question: Represent(s) money that is owed to creditors. 15. Question: Owner's equity represents: 16. Question: All assets owned by the entrepreneur. The net worth of the business 17. Question: Corporations distribute profits to owners through . 18. Question: The basic balance sheet relationship is: 19. Question: Which of the following statements is (are) true? 20. Question: The four variables that short-term marketing decisions are referred to as the 21. Question: In establishing goals and objectives, it is important to: 22. Question: If the total fixed costs are $850,000, the sale price is $110 and the variable cost per unit is 25, what is the breakeven volume? 23. Question: When products cannot be easily differentiated: 24. Question: Is the volume of sales needed to cover total variable and fixed costs. 25. Question: The formula for break-even analysis is: