QUESTION Which person would MOST likely be a successful entrepreneur? a. Erica, who asks others to help her decide what to do next b. Allison, who embraces challenge, risk, and unexpected situations c. Steve, who focuses on the details of his current projects d. Jack, who needs regular paychecks to cover tuition ANSWER b
QUESTION An organization’s hierarchy of authority is A) a diagram showing the governance bodies to whom the CEO reports. B) a list of the company’s top executives and their immediate direct reports. C) the organization’s official configuration of reporting relationships. D) the position the organization holds in its industry in terms of profitability. ANSWER […]
QUESTION What is the relationship between risk and the interest rate on a long-term bank loan? What will be an ideal response? ANSWER The greater the risk of a bank issuing a long-term loan, the higher the interest rate the bank charges the business.
QUESTION Which one of the following questions evaluates your integrity? a. What are you passionate about? b. Do you get people excited about anything? c. What do you tinker with in life? d. When is the last time you had to sacrifice something to uphold the truth? ANSWER d
QUESTION Which of these will shift the demand curve? a. changes in production technology b. changes in the number of competitors c. changes in customer preferences d. changes in production costs ANSWER c
QUESTION Juanita is the type of person who adapts to unexpected situations, who quickly comes up with innovative solutions to problems she encounters, and who takes charge of putting solutions into practice. Would she likely become a successful entrepreneur? a. No, because she does not spend enough time thinking through the situation. b. Yes, because […]
QUESTION What should a company consider before issuing bonds? What will be an ideal response? ANSWER The company should consider the overall cost, such as the interest rate that must be paid. The company should also consider the length of the repayment period. The longer the bond term, the riskier the issuing of the […]
QUESTION Ani DiFranco is considered to be an entrepreneur because she ________. a. started her own record label b. writes anti-capitalist lyrics c. re-energized the Detroit area d. is successful ANSWER a
QUESTION You work in a company. You assign employees their work, monitor their progress, and provide guidance. What are you? A) a supervisor B) a regional manager C) a vice president D) a president or CEO ANSWER A
QUESTION Lynn, with a new degree in culinary arts, planned to start a catering business. Her mother, a chef in a French restaurant, offered to lend her $50,000 in return for a 30% share in the business and partial ownership. In this case, her mother is a venture capitalist. Indicate whether the statement is true […]
