Test Bank For Entrepreneurial Small Business, 7th Edition By Jerome Katz, Richard Green Chapter 1-18
Answers are at the End of Each Chapter Chapter 1 Student name:__________ TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false. 1) The majority of new firms go through similar start-up processes with those most likely to be successful following a four-step process: finance, check, plan, and do. ⊚ true ⊚ false 2) Kevin wanted to start his own business of ferrying pets to the vet or groomers for their
owners but he was advised to perform a feasibility analysis before moving forward. Kevin is on the third step of the entrepreneurial process: plan. ⊚ true ⊚ false 3) In order to make profits from a small business, the company needs to make an actual product. ⊚ true ⊚ false 4) Truly entrepreneurial businesses are characterized by imitativeness in their products,
services, or business models. ⊚ true ⊚ false 5) Self-employed persons are not referred to as entrepreneurs. ⊚ true ⊚ false 6) Crowdsourcing is funding a business online through the collective involvement of others who
provide donations, loans, or investments. ⊚ true ⊚ false