GBUS FINAL 4 – Flashcards
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A small business is all of the following except
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dominant in its field.
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which of the following organizations would be considered a small business?
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Wholesaler with 50 employees
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To qualify as a small business, a retailing establishment may not exceed annual sales of
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$7 million
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To qualify as a small business, a manufacturing plant can employ no more than ____ people.
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500
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To qualify as a small business, an agricultural company's maximum annual receipts must be no more than
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$750,000
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Approximately how many businesses are there in the United States?
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27 million
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Mary's cleaning business has several customers but is not dominant in its field. This is an example of a(n) ____ business.
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small
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A company generally needs more than ____ employees in order to be considered large.
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500
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What is the primary reason that so many new businesses fail?
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Mismanagement resulting from lack of business know-how
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Approximately what percentage of the jobs in the United States do small businesses provide?
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over 50 percent
