Business Essentials Canadian 8th Edition Ebert Test Bank
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Chapter 4 Entrepreneurship, Small Business, and New
Venture Creation
4.1
Multiple-Choice Questions
1) Self-employed Canadians
account for about ________ percent of the workforce.
1.
A) 3
2.
B) 5
3.
C) 16
4.
D) 22
5.
E) 34
Answer: C
Diff: 3
Type: MC Page Ref: 75
Skill: Knowledge
Objective: 4.1
2) Approximately how
many new businesses are started each day in Canada?
1.
A) 25
2.
B) 100
3.
C) 250
4.
D) 380
5.
E) 500
Answer: D
Diff: 3
Type: MC Page Ref: 75
Skill: Knowledge
Objective: 4.1
3) Individuals who
both recognize and seize opportunities are referred to as
1.
A) speculators.
2.
B) franchisees.
3.
C) entrepreneurs.
4.
D) intrapreneurs.
5.
E) independents.
Answer: C
Diff: 1
Type: MC Page Ref: 76
Skill: Knowledge
Objective: 4.1
4) Entrepreneurs often
have more than one goal for starting a business and becoming self-employed.
Which of the following reasons is probably the least common goal of entrepreneurs?
1.
A) To seek
independence and be their own boss
2.
B) To earn a
comfortable living for a period of time
3.
C) To grow and expand
a current business
4.
D) To meet community
or social obligations
5.
E) To provide for
their financial needs
Answer: D
Diff: 1
Type: MC Page Ref: 76
Skill: Knowledge
Objective: 4.1
5) A new firm is
1.
A) one that has been
in business for 5 years or less.
2.
B) one that has not
yet opened for business.
3.
C) one with less than
10 years’ experience.
4.
D) one that has become
operational within the previous 12 months.
5.
E) one that opened its
doors within the past 6 months.
Answer: D
Diff: 2
Type: MC Page Ref: 76
Skill:
Comprehension
Objective: 4.1
6) How are
intrapreneurs different from entrepreneurs?
1.
A) The former are
women and the latter are men.
2.
B) The former are
older than the latter.
3.
C) The former work
within an existing business while the latter start their own business.
4.
D) The former earn
less money than the latter.
5.
E) There is not
difference between the two terms.
Answer: C
Diff: 1
Type: MC Page Ref: 76
Skill:
Comprehension
Objective: 4.1
7) A small business is
an owner managed business with less than ________ employees.
1.
A) 25
2.
B) 50
3.
C) 10
4.
D) 500
5.
E) 100
Answer: E
Diff: 2
Type: MC Page Ref: 75
Skill: Knowledge
Objective: 4.1
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