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What are the advantages of owning a small business? Give examples.

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Answers will vary. For individuals that ...

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There is much less likelihood of failure with a franchised outlet than with an independently owned small business.

A) True
B) False

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The average size of an SBA-guaranteed business loan is about


A) $25,000.
B) $100,000.
C) $200,000.
D) $300,000.
E) $500,000.

F) B) and C)
G) D) and E)

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What is the primary function of SBA financial assistance? Where do most SBA loans originate?

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The primary function of SBA financial as...

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Service industries account for approximately what percentage of all small businesses?


A) 25
B) 35
C) 50
D) 70
E) 80

F) B) and E)
G) B) and C)

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Your friend has just been awarded a franchise in a particular industry. He explains that his franchisor has licensed him to sell and distribute a product to retailers. Knowing that this type of franchise arrangement is most common in one particular industry, you suspect that your friend has obtained a franchise in the ____ industry.


A) gasoline
B) automobile sales
C) soft-drink
D) fast-food
E) furniture

F) A) and C)
G) A) and D)

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The SBA's website resource targeted at assisting women-owned business is known as the SBA's Online Women's Resource and Growth Center.

A) True
B) False

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The purchaser of a franchise is called the franchisee.

A) True
B) False

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All of the following are reasons people go into business except the


A) desire to create a new business.
B) willingness to accept a challenge.
C) guaranteed return on investment.
D) desire for independence.
E) desire to determine one's own destiny.

F) A) and E)
G) A) and D)

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Approximately what percentage of the jobs in the United States do small businesses provide?


A) 5 percent
B) 10 percent
C) 30 percent
D) over 50 percent
E) nearly 90 percent

F) All of the above
G) C) and E)

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You stop at a SUBWAY to get a sandwich for lunch and you notice that they now have TCBY yogurt. This is an example of a


A) co-branded establishment.
B) franchise.
C) small business.
D) dual-sponsored business.
E) dual-branded franchise.

F) A) and E)
G) A) and B)

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Michael Tucker operates Tucker Farms in northern Illinois. Last year, his annual receipts were just under $750,000. According to the Small Business Administration, Tucker Farms is a


A) small business.
B) medium-sized business.
C) large business.
D) franchise.
E) joint venture.Personal Wellness

F) A) and C)
G) A) and B)

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Distribution industries account for approximately what percentage of all small businesses?


A) 20
B) 25
C) 33
D) 55
E) 70

F) C) and D)
G) A) and E)

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​Teenage entrepreneurship is growing especially in the _____ industry.


A) ​tech
B) ​retail sales
C) ​exporting
D) ​tutoring

E) C) and D)
F) All of the above

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What are small-business investment companies? Name some companies that were financed through SBICs during their initial stages.

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A small-business investment company (SBI...

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University-based groups providing individual counseling and practical training to owners of small businesses are known as


A) the Small Business Administration.
B) small-business development centers.
C) small-business institutes.
D) special task forces.
E) none of the above.

F) B) and C)
G) A) and E)

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John and Ruby Couch just opened a computer store in a small community. Before opening the store, they listened to their SBA counselor's warnings about the importance of having balanced experience, that is, marketing, finance, and personnel experience in the computer-store business because


A) their business is unlikely to grow and earn large business profits.
B) the computer-store business is a fad.
C) management know-how is insignificant to small-business success.
D) small businesses survive large businesses by three years.
E) about two out of three small firms close within five years of their founding.

F) B) and E)
G) None of the above

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Franchising experienced tremendous growth during the early 1430s.

A) True
B) False

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The various types of businesses attracting small business are generally grouped into service industries, distribution industries, and financial industries.

A) True
B) False

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Which of the following is an advantage to the franchisor in a franchise agreement?


A) Opportunity to start a business with limited capital
B) Access to local advertising materials
C) Fast and selective distribution of products
D) Chance to participate in national advertising
E) Chance to minimize costs through cooperative buying

F) B) and E)
G) B) and D)

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Showing 121 - 140 of 212

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