The franchise governs the method of conducting business between the two parties. Generally, a
franchisee:
Select one:
a. sells goods or services supplied by the franchisor and meets the franchisor's quality standards.
b. creates goods or services partially supplied by the franchisor and meets the franchisor's quality
standards, when checked.
c. sells goods or services supplied by the franchisor and does not need to meet franchisor's quality
standards more than once per year (on yearly inspection).
d. takes goods or services supplied by the franchisor so that the franchisee can meet the franchisor's
quality standards.
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The correct answer is: sells goods or services supplied by the franchisor and meets the franchisor's
quality standards.
Advantages of the Corporation Include:
Select one:
a. Limited liability and easier to raise capital.
b. Unlimited liability and easier to raise capital.
c. Limited liability and easy to raise capital.
d. Limited ability and easier to raise capital.
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The correct answer is: Limited liability and easier to raise capital.
Lao Tzu's metaphor about water is relevant to entrepreneurship because of these two characteristics:
Select one:
, a. flexibility and yielding
b. flexibility and force
c. strength and force
d. all of the above
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The correct answer is: flexibility and yielding
Early majorities are:
Select one:
a. Cost sensitive and risk adverse pragmatists, comfortable with moderately progressive ideas
b. The ones who won't act without solid proof of benefits
c. Followers who are influenced by mainstream fashions and wary of fads
d. All of the above
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The correct answer is: All of the above
According to H. Ford when working on developing a horseless carriage, he had to work:
Select one:
a. From the ground up
b. Simultaneously on everything
c. From the top down
d. In collaboration with other entrepreneurs working on the same invention
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franchisee:
Select one:
a. sells goods or services supplied by the franchisor and meets the franchisor's quality standards.
b. creates goods or services partially supplied by the franchisor and meets the franchisor's quality
standards, when checked.
c. sells goods or services supplied by the franchisor and does not need to meet franchisor's quality
standards more than once per year (on yearly inspection).
d. takes goods or services supplied by the franchisor so that the franchisee can meet the franchisor's
quality standards.
Feedback
The correct answer is: sells goods or services supplied by the franchisor and meets the franchisor's
quality standards.
Advantages of the Corporation Include:
Select one:
a. Limited liability and easier to raise capital.
b. Unlimited liability and easier to raise capital.
c. Limited liability and easy to raise capital.
d. Limited ability and easier to raise capital.
Feedback
The correct answer is: Limited liability and easier to raise capital.
Lao Tzu's metaphor about water is relevant to entrepreneurship because of these two characteristics:
Select one:
, a. flexibility and yielding
b. flexibility and force
c. strength and force
d. all of the above
Feedback
The correct answer is: flexibility and yielding
Early majorities are:
Select one:
a. Cost sensitive and risk adverse pragmatists, comfortable with moderately progressive ideas
b. The ones who won't act without solid proof of benefits
c. Followers who are influenced by mainstream fashions and wary of fads
d. All of the above
Feedback
The correct answer is: All of the above
According to H. Ford when working on developing a horseless carriage, he had to work:
Select one:
a. From the ground up
b. Simultaneously on everything
c. From the top down
d. In collaboration with other entrepreneurs working on the same invention
Feedback
