Entrepreneurship and Small Business
Management Exam ACTUAL UPDATED
QUESTIONS AND CORRECT ANSWERS
a business that fails to protect its employees from unnecessary risk or health hazards on the
job may be sued for. - CORRRECT ANSWERS✅✅negligence
What requirement of legally enforceable contract requires that both of the parties who are
entering into contract are sane sober and of legal age - CORRRECT ANSWERS✅✅capacity
the owner receives all of the profit of the business and can act quickly in making business
decisions when a form of business ownership is a.... - CORRRECT ANSWERS✅✅sole
proprietorship
Which of the following is the type of tax that business are required to collect from customers
when they purchase certain goods or services. - CORRRECT ANSWERS✅✅sales tax,
Which of the following is a condition that must exist for channels to be effective: -
CORRRECT ANSWERS✅✅They must be properly managed.
Which of the following is a marketing function that can be performed by channel
intermediaries. - CORRRECT ANSWERS✅✅Promoting products.
A manufacturer of dish washing soap has just invented a new type of soap that cleans better.
The manufacturer should choose to distribute the soap through __________ distribution. -
CORRRECT ANSWERS✅✅Intensive.
What type of information does a well-written proposal include? - CORRRECT
ANSWERS✅✅Specific benefits.
Every customer is greeted by a friendly employee, and s/he is given snacks and drinks while
s/he waits for the repairs to be completed. The
, great customer service that people can expect from Patricia's business is considered her -
CORRRECT ANSWERS✅✅Brand promise.
Financial loss from investing time and money to comply with accounting standards is an
example of which strategic risk: - CORRRECT ANSWERS✅✅Regulatory and political
issues.
The government's mandating the use of unleaded gas in new cars is an example of -
CORRRECT ANSWERS✅✅Protecting the environment.
What type of business usually experiences economies of scale due to expanded operations? -
CORRRECT ANSWERS✅✅Large manufacturing plant.
Business people who respect the unique customs and habits of their foreign customers are
exhibiting - CORRRECT ANSWERS✅✅Cultural sensitivity.
. "Yes, you'll save money instantly" is an example of a statement with - CORRRECT
ANSWERS✅✅Persuasive words.
Which of the following is a characteristic of a self confident leader: - CORRRECT
ANSWERS✅✅S/He is decisive, even in uncertain circumstances. .
Why is it important for team members to feel a sense of "ownership" and engagement in the
vision? - CORRRECT ANSWERS✅✅It's the only way they will become committed to it.
Which of the following statements is true regarding stakeholder expectations: - CORRRECT
ANSWERS✅✅Each group of stakeholders has different needs and expectations.
Julio is starting a new business, and he has formed relationships with several successful local
business
owners. Which of the following is the best way to leverage these relationships to help his
own business
succeed: - CORRRECT ANSWERS✅✅Sharing those businesses' content on social media.
Management Exam ACTUAL UPDATED
QUESTIONS AND CORRECT ANSWERS
a business that fails to protect its employees from unnecessary risk or health hazards on the
job may be sued for. - CORRRECT ANSWERS✅✅negligence
What requirement of legally enforceable contract requires that both of the parties who are
entering into contract are sane sober and of legal age - CORRRECT ANSWERS✅✅capacity
the owner receives all of the profit of the business and can act quickly in making business
decisions when a form of business ownership is a.... - CORRRECT ANSWERS✅✅sole
proprietorship
Which of the following is the type of tax that business are required to collect from customers
when they purchase certain goods or services. - CORRRECT ANSWERS✅✅sales tax,
Which of the following is a condition that must exist for channels to be effective: -
CORRRECT ANSWERS✅✅They must be properly managed.
Which of the following is a marketing function that can be performed by channel
intermediaries. - CORRRECT ANSWERS✅✅Promoting products.
A manufacturer of dish washing soap has just invented a new type of soap that cleans better.
The manufacturer should choose to distribute the soap through __________ distribution. -
CORRRECT ANSWERS✅✅Intensive.
What type of information does a well-written proposal include? - CORRRECT
ANSWERS✅✅Specific benefits.
Every customer is greeted by a friendly employee, and s/he is given snacks and drinks while
s/he waits for the repairs to be completed. The
, great customer service that people can expect from Patricia's business is considered her -
CORRRECT ANSWERS✅✅Brand promise.
Financial loss from investing time and money to comply with accounting standards is an
example of which strategic risk: - CORRRECT ANSWERS✅✅Regulatory and political
issues.
The government's mandating the use of unleaded gas in new cars is an example of -
CORRRECT ANSWERS✅✅Protecting the environment.
What type of business usually experiences economies of scale due to expanded operations? -
CORRRECT ANSWERS✅✅Large manufacturing plant.
Business people who respect the unique customs and habits of their foreign customers are
exhibiting - CORRRECT ANSWERS✅✅Cultural sensitivity.
. "Yes, you'll save money instantly" is an example of a statement with - CORRRECT
ANSWERS✅✅Persuasive words.
Which of the following is a characteristic of a self confident leader: - CORRRECT
ANSWERS✅✅S/He is decisive, even in uncertain circumstances. .
Why is it important for team members to feel a sense of "ownership" and engagement in the
vision? - CORRRECT ANSWERS✅✅It's the only way they will become committed to it.
Which of the following statements is true regarding stakeholder expectations: - CORRRECT
ANSWERS✅✅Each group of stakeholders has different needs and expectations.
Julio is starting a new business, and he has formed relationships with several successful local
business
owners. Which of the following is the best way to leverage these relationships to help his
own business
succeed: - CORRRECT ANSWERS✅✅Sharing those businesses' content on social media.
