John D. Rockefeller once stated that “ ...

”:

Marginal Tax Rate refers to:

This is control f
A. The Marginal Tax paid on interest for loans/debt
B. The average tax rate on the entire revenue
C. Tax paid on the highest dollar of income
D. The tax rate on the very first dollar earned
sugar or coffee

The following is NOT part of the financing plan:

A. sources of funding
B. feasibility analysis
C. analysis of competition
D. accounting and bookkeeping system

Which potential employees below are the LEAST preferred to work with?
A. Newly graduated BBAs
B. Family members
C. Employees with a great attitude
D. Professional Employees

Demand-based Pricing refers to C MAYBE

A. Identifying the exact needs and want of the consumer
B. The total volume of products the competition is able to sell in the marketplace
C. Consumer's willingness to pay a specific price for a product
D. The highest price which can be obtained for a product in the marketplace

The best method to be used in inventory control in an INFLATIONARY ENVIROMENT is:

B MAYBE
A. PERT
B. FIFO
C. LIFO
D. TQM

Market Segmentation can be performed on (PLEASE CHOOSE THE BEST ANSWER!):

A. Someone's hair colour
B. People's wants, needs, likes
C. Any relevant metric
D. Demographic, Geographic, Psychographic metrics
Earnings value examines
A. the salary that the owner was taking from the business
B. intangible assets
C. assets and liabilities
D. projections of average earnings into the future

A market penetration strategy refers to

A. Aggresively positioning products in international markets
B. Selling products cheaper than the competition
C. Identifying new market segments where products can be positioned and sold
D. Selling products above the competition's price in order to capture higher profits

Equity financing can be best obtained from:

A. Credit Unions
B. Local Chamber of Commerce
C. Venture Capital Investors
D. Banks

Entrepreneurial traits include B OR D?

A. works through others
B. developing strategy
C. creativity
D. team player

The major causes of business failure include

A. manager does not have a business degree
B. type of small business
C. improper planning, incompetence and inexperience
D. number of competitors

The present value method of valuing a business opportunity refers to the WHICH of the
following equations?
A. Fv = Pv(1+r)^n
B. Pv = Fv/(1+r)^n
C. Fv/Pv = (1+r)^n
D. All of the above

The correct sequence in the "economies of Scale and Scope" is:

A. One, None, Scale, Scope, Mass Customization
B. Scale, Scope, One, Mass Customization, None
C. Scale, Mass Customization, Scope, One, None
D. Scale, Mass Customization, None, Scope, One
The most important aspect in finding a MENTOR relates to D MAYBE
A. Knowledge
B. Intelligence
C. Intuition
D. Trust

Segmenting the traditional organization in slabs, refers to: anyone know this? NO
A. Hierarchical segmentation
B. Silo segmentation
C. Organizational integration
D. Departmental segmentation

Corporate tax planning should be done:

A. When corporate taxes are submitted
B. Annually
C. Continuously
D. Every time the government requires the company to do so

One of the advantages of organizing a business from scratch is:

A. Higher risk
B. Higher independence
C. Lower independence
D. Lower risk

Many business initiatives fail because:

A. Don't have enough resources from the inception of the business
B. Allocate resources to goals and objectives
C. Improper planning
D. They start with too much resources

Entrepreneurial skills are required to

A. sell the business
B. start a business
C. solidify existing operations
D. maintain a business

Main objective in developing and implementing a Board of Directors is: A OR C MAYBE

A. To pass the financial risk on the Board in case of company insolvency
B. To obtain information about market competitors
C. To ensure proper access to required capital (debt and equity)
D. To assist with long-term guidance

The future for small business is:

 A. bleak because of government cutbacks
B. bright because of greater government assistance
C. bleak because of the power of large business
D. bright because of constant change in the economy and society

The most appropriate (impactful) marketing channel for a comapny selling products in a specific
country is
A. Instagram
B. Local Newspaper
C. Nationwide TV station
D. LinkedIn

Services firm market share uses this as its base: B MAYBE………….

A. local population and number of competitors
B. number of employees
C. number of managers
D. contacts with the local Chamber of Commerce

What are some potential sources for small companies to hire employees? D MAYBE
A. Own network
B. Competitors
C. Trained Professionals
D. Only A, B, and C

A cash flow statement is: B MAYBE

A. The same as an income statement
B. A statement of cash flows over time
C. Cash-in minus cash-out at one point in time
D. A balance sheet summary

Organizational culture includes: D MAYBE

A. Customs, Traditions, Attitudes
B. Behaviours, Leadership styles, Organizational dress code
C. Organizational Legacy, Stories, Organizational Restrictions
D. All of the above

The most efficient promotional channel is: C MAYBE IDK BOUT THIS
A. Instagram
B. Google adds
C. Word of Mouth
D. LinkedIn

The following method is NOT a type of primary research

A. Industry studies
 B. Personal interview
C. Observation studies
D. Telephone surveys

Please list the three steps of preparing a FEASIBILITY ANALYSIS

Ans: NOTE SURE ABOUT THIS ONE
- Analysis of current mode of operation and definition of requirements
- An evaluation of alternatives
- Agree upon course of action

Please list a minimum of 3 possible INTANGIBLE ASSETS

Ans:
- GOOD WILL
- Brand equity
- Intellectual properties

Non-quantitative assessment of business opportunities includes B MOST PROBABLY

A. content of work analysis
B. content of work analysis and how the business will affect lifestyle
C. income statement and balance sheet evaluation
D. how the business will affect lifestyle

Corporate growth can be obtained through: D MAYBE

A. Targeting new market segments
B. Developing new products and services
C. Selling a lower number of product in the largest market possible
D. Only A and B

Which of the following are not assets to be evaluated when buying a business?
A. liabilities
B. inventory
C. accounts receivable
D. none of the answers are correct

Hiring contract employees is prefered by companies because C MAYBE IDK

A. Contract employees are more loyal than full-time employees
B. Contract employees tend to perform better than full-time employees
C. There is no significant commitment on behalf of the company
D. Contract employees earn more money than full-time employees

Account title
Cash 19000
Inventory 44500
Accounts receivable 13500
Trucks 250000
Land 425000
Buildings 750000
Other equipment 65500
Accounts Payable 37000
Interest payable 31500
10 Year bond 565000
Long-term notes payable 51500

Please calculate the QUICK RATIO/Acid Test - (to 3 decimal places!)

Ans: 0.472
Calculate LONG-TERM DEBT TO OWNER EQUITY RATIO - (to 3 decimal places)
Ans: 0.698
CALCULATE DEBT RATIO (3 decimal)
Ans: 0.437
Calculate DEBT TO EQUITY RATIO (3 Decimal)
Ans: 0.776
Calculate CURRENT RATIO (3 Decimal)
Ans: 1.124

Buying goods on credit is: D MAYBE

A. Good because the company uses someone else's money for the purchase
B. Good because we take advantage of a grace period - until the payment becomes due
C. Bad because there could be a significant level of interest and penalties for revolving credit
D.All of the above

The most efficient advertising channel for an ecommerce platform is C PROBS

A. Local Newspapers
B. National TV station
C. Google Adwords
D. The local Chamber of Commerce

Most small business managers are successful because

A. they identify a market niche and exploit it (not sure but)but this is best
B. they are lucky
C. they can bypass government red tape
D. they don't have to borrow much money

A trucking company has as its assets 20 trucks, 5 cars and 2 wearhouses.

What is the best DEBT to EQUITY percentage for this company?
A. 80%
B. 90%
C. 70%
D. 100%

THIS expense does NOT represent an allowable business expense:

A. Payments for political contributions
B. Payments for business entertainment
C. Payments for interest expenses on debt
D. Payments for legal expenses

What are 4 KEY advantages and 4 KEY disadvantages of Sole Proprietorship

Ans:

Which one of the answers below is NOT part of the Entrepreneurial Process
A. Management of another business
B. Development of a business plan
C. Identification and evaluation of opportunity
D. Determination of the resources required

In order for a company to better understand; WHAT needs to be done, HOW things should be
done, WHY things should be done, the company needs to have a proper "what" in place?
A. Job description
B. Organizational Chart
C. Organizational Strcuture
D. A pyramid framework

Small business is defined by using

A. independent management
B. number of employees
C. level of profits and sales
D. all of the answers are correct

Purchasing a flat-sceen TV is considered to be a type of: B MAYBE

A. Entertainment Product
B. Shopping Product
C. Specialty Product
D. Convenience Product

Which of the following are not part of an industry analysis:

A. social and ideological concerns
B. previous owner's performance
 C. state of the economy
D. sales and profit trends

Small businesses tend to be C OR B MAYBE

A. capital intensive
B. balanced between labour and capital intensity
C. labour intensive
D. none of the answers are correct

A thorough market research investigation helps to:

A. All answers are correct
B. Determine the best price at which a product should be sold
C. Uncover which market segments would be appropriate for the product
D. Empowers the entrepreneur

Strategic objectives need to be __ to be evaluated. B MAYBE

A. quantitative and specific
B. related to the economy
C. relevant to the aboriginal community
D. at least two pages long

Income splitting refers to B MAYBE

A. Splitting the revenue with partners
B. Sharing the income with a spouse
C. Splitting the current year revenue to next year
D. Splitting the revenue with other corporate stakeholder

Specific areas of managerial incompetence contributing to small business failure include

D MAYBE
A. receivables and payables management
B. budgeting
C. handling personnel
D. all of the answers are correct

Main advantage in buying an existing business rather than starting one from scratch is:
D MOST PROB
A. Important cost savings
B. Improves the competitive chances of the business
C. Allows the buyer to be very creative with the newly acquired business
D. Minimizes the period of time to the revenue generating stage
Which method below is NOT a valid business transfer option ?
A. Through a will
B. Income splitting
C. Sale
D. Donation

A disadvantage of purchasing an existing business over organizing from scratch is that

A
A. none of the answers are correct
B. it is more time-consuming
C. it involves more risk
D. it has no track record

List the 5 "C"s of obtaining credit

ANS:
- CREDIBILITY
- CREDIT WORTHINESS
- COLLATERAL
- CAPACITY
- CAPITAL

A start-up cost schedule helps determine A MAYBE

A. all of the answers are correct
B. future potential cashflows
C. amount of capital needed/required
D. the chances of success of the business

Debt financing has the following KEY (PRIMARY) advantage

A. There is no need to repay the loan to the bank
B. Other partners are just as liable for the loan
C. Tax-deductible interest
D. Retention of the control over the business

Determining the Human Capital Pool requirements for a company should be done based on:
A. Current and future needs of the company
B. The long term goals and objectives of the company
C. The competition's strength
D. All of the above

Inventory Turnover Ratio should be: C MAYBE

A. Low in order to attract more customers
B. High in order to maximize profitability
C. High in order to improve efficiency
D. High in order to perform better than the competition
What aspect of the business growth trend is NOT a regular occurence?
A. Decreased profitability
B. Faster revenue growth
C. Increased profitability
D. Cummunication difficulties

Some of the reasons why specific products do not reach their objectives are:
A. Proper positioning in, and alignment of the product with, market segment
B. Very good analysis of market potential and market trends
C. Competitors displayed products with more features and attributes
D. The paying public perceives the product to have too much value

The primary reason most people start their own business is to A MAYBE
A. gain independence
B. earn large sums of money
C. build for their family
D. use their skills/abilities

Personal interviews have the following disadvantage: C MAYBE

A. the data is not relevant
B. they are out of date
C. they are time consuming
D. it is hard to find the appropriate market segment

A good solution to improve the financial performance of a company would be to:

A. Shorten the Accounts Receivable due time and Shorten the Accounts Payble timeframe
B. Lengthen the Accounts Receivable due time and Shorten the Accounts Payble timeframe
C. Lengthen the Accounts Receivable due time and Lengthen the Accounts Payble timeframe
D. Shorten the Accounts Receivable due time and Lengthen the Accounts Payble timeframe

The marketing exercise has 2 key stages:

A. Market Research and Product Positioning
B. Competitor Analysis and Porter's 5 Forces Analysis
C. Product Customization and Channel Definition
D. Market Segmentation and Product Design

In the Production Process inputs refer to: D MAYBE

A. Porter's 5 Forces and SWOT Analysis
B. Labour, Equipment, Intellectual Property, and Distribution systems
 C. Resources, Labour, Competitive Forces and PESTEL
D. Labour, Materials, Resources

The concept of AMORTIZATION refers to D MAYBE

A. Tax deductions on a depreciating asset
B. Tax deductions on paid dividends
C. Tax deductions on paid interest (on debt)
D. Tax deductions on an appreciating asset

The entrepreneurial revolution refers to

A. the increase in the number of inventions
B. the increase in the conflict between management and labour
C. the increase in the number of people operating their own businesses
D. all of the above answers are correct

Accounts Receivable are:

A. As good as “money in the bank”
B. Bad because of potential bad debts
C. Bad because some people may pay only after 30 days
D. Good because all payors are paying in due time

Using a DEBIT card to make a purchase is:

A. Good because the payment is executed immediately
B. Good because there is no interest accumulated on the money used for payment
C. Bad because the vendor didn’t sell on credit
D. Bad because there is the possibility of the payment not “going through”

Briefly describe the main difference between the CURRENT RATIO and the ACID TEST
Ans:
Current ration is curret asset upon liability while acid test ratio is current asset-inventry upon
current liability

As Abrahim Lincoln was dying, the secretary of war stanton exclaimed: “ There lies the most…
ruler of men the world has ever seen.” What is the SPECIFIC word Stanton used?
Ans:

What are the key parameters captured in a Gantt Chart?

Please list a minimum of 4 (four) parameters - Bullet point please
Ans: IDK BOUT THIS ANSWER
- Outline of all tasks to be done
- Their order
- Time required for a task
- Shown in a time scale
Briefly describe the concept of strategic agility and its 3 main components
Ans:
- strategic flexibility - Move very fast , moving seamlessly
- Resource fluidity - Constantly allocating resources human financial to where ever they
will make the most meaningful and positive impact in the organization
- Constantly scanning - looking outside company and horizon, emerging trends,
consumption patterns

Please list the four legal business structures that a future business owner can utilize
Ans:
Sole proprietorship
Cooperative
Partnership

What are 4 KEY advantages and 4 KEY disadvantages of Sole Proprietorship

Ans:
ADVANTAGES
-
DISADVANTAGES