Intro to Business and Technology Chapter 6 Study Guide – Flashcards
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An independent business with 200 employees is considered a small business. (True or False)
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True
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Most new business owners obtain start-up money to finance their business from banks. (True or False)
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False
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Small businesses employ only 10 percent of U.S. workers. (True or False)
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False
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Successful entrepreneurs have many personal characteristics in common. (True or False)
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True
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An entrepreneur is someone who takes a risk by starting his own business. (True or False)
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True
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Start-up financing is money needed to pay current operating costs of the business. (True or False)
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False
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One of the main reasons that businesses started by entrepreneurs fail is inadequate capital. (True or False)
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True
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A business plan includes a description of the strengths and weaknesses of competitors. (True or False)
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False
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The process of starting, organizing, and managing a business
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entrepreneurship
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A brand new invention
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innovation
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A written description of the business idea
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business plan
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Money provided by large investors to finance new businesses
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venture capital
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A change that increases the usefulness of a product
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improvement
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Money to pay for current operating costs of the business. (Start-up, Short-Term, or Long-Term)
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Short-Term
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Purchase of the equipment to open a business. (Start-up, Short-Term, or Long-Term)
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Start-up
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Money used to open the business. (Start-up, Short-Term, or Long-Term)
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Start-up
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Financing that is obtained for less than a year. (Start-up, Short-Term, or Long-Term)
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Short-Term
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The license to operate a business. (Start-up, Short-Term, or Long-Term)
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Start-up
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Large amounts of money paid over many years. (Start-up, Short-Term, or Long-Term)
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Long-Term
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The land that the business is built on. (Start-up, Short-Term, or Long-Term)
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Long-Term
