MGT 401 SMALL BUSINESS: STRUCTURE, PLANNING, FUNDING Final Exam

 

1. Product, place, price, and promotion are considerations of which of the below?

a. Marketing strategy

b. Financial strategy

c. Mission statement

d. Vision statement

 

2. Which document includes the size of the primary target market and a competitive analysis?

a. Mission Statement

b. Business Plan

c. Executive Summary

d. Registration document with the state

 

3. Which international shipping term places the risk on the seller until the goods are delivered to the buyer’s place of business?

a. FAS (free along side)

b. FOB (free on board) seller

c. FOB (free on board) buyer

d. CFR (cost and freight)

 

4. Which form of business ownership represents the greatest sales in dollars?

a. Corporations

b. Limited-liability companies

c. Partnerships

d. Sole proprietorship

 

5. Attributes about a company that are specific, measurable, realistic, and timely are components of which of the below?

a. Goals

b. Objectives

c. Strategy

d. Mission

 

6. Direct mail lists, census data, business directories refer to which type of research?

a. Secondary research

b. Primary research

c. Tertiary research

d. Business directories

 

7. Which form of business ownership represents the greatest number of businesses?

a. Corporations

b. Limited-liability companies

c. Partnerships

d. Sole proprietorship

 

8. Secondary research includes which of the following?

a. Customer surveys

b. Business directories

c. Focus groups

d. All of the above represent secondary research

 

 

9. Which of the following compares the current liabilities and current assets?

a. Liquidity ratios

b. Quick ratio

c. Current ratio

d. Leverage ratio

 

10. Which of the following is not true about the Mission Statement?

a. Displays the purpose of the company

b. Is a generalized statement

c. Provides the identity of the company

d. Describes the values of the company

 

11. Which of the following represents the profit and losses of the company?

a. Current assets

b. Income statement

c. Current liabilities

d. Owner’s equity

 

12. Which business strategy focuses on the differences among market segments.?

a. Low cost

b. Focus

c. New entrant

d. Substitute

 

13. Which business structure that provides limited liability features of a corporation as well as the flexibility of a partnership?

a. Sole proprietor

b. Corporation

c. Limited liability

d. Partnership

 

14. Which of the below refers to the movement of funds in and out of the company?

a. Cash Flow

b. Capital Assets

c. Variable Assets

d. Fixed Assets

 

15. Which of the following international barriers represents a total ban of imports of certain products?

a. Dumping

b. Quotas

c. Tariffs

d. Embargo

 

16. Which type of capital is risk capital?

a. Debt capital

b. Growth capital

c. Equity capital

d. Working capital

 

17. Which of the following would be more than 10 pages in length?

a. Mission Statement

b. Vision Statement

c. Executive Summary

d. Business Plan

 

18. Customer surveys, customer questionnaires, and focus groups refer to which type of research?

a. Secondary research

b. Primary research

c. Tertiary research

d. Business directories

 

19. Which of the following represents a snapshot of the financial position of the company?

a. Income statement

b. Cash flow analysis

c. Balance sheet

d. Accounts receivable

 

20. Which of the below contributes to building a sustainable competitive advantage?

a. Core competencies

b. Capabilities

c. Skills

d. All of the above contribute to building a sustainable competitive advantage.

 

21. Which type of capital represents a business’s temporary funds?

a. Debt capital

b. Growth capital

c. Equity capital

d. Working capital

 

22. Which of the following represent debts paid within one year?

a. Current assets

b. Fixed assets

c. Current liabilities

d. Owner’s equity