entrepreneurs, this means seeking to match or slightly better the income they had before they
started their own business.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
56.
Award: 1.00 point
57.
Award: 1.00 point
Tina runs her consultancy business from her home. Working from home allows her to set her own
schedule and take time off at her convenience so that she can be with her family. The fact that Tina
gets more time with her family can be categorized as ________ reward.
income
flexibility
growth
credit
Flexibility rewards refer to the ability of business owners to structure their lives in the way that best
suits their needs.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
The ability of business owners to structure their lives in the way that best suits their needs refers to
flexibility rewards.
family rewards.
growth rewards.
wealth rewards.
Flexibility rewards are perhaps the most rapidly growing type of reward. They refer to the ability of
business owners to structure their lives in the way that best suits their needs.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
58.
Award: 1.00 point
59.
Award: 1.00 point
Which of the following is a myth about small businesses?
failed entrepreneurs can succeed if they try again
a small business will never have enough financing
students have skills to start small businesses
small businesses can start during recession
It is a myth that small businesses do not have enough financing.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
Financing a business online through the collective involvement of others who provide donations,
loans, or investments is referred to as
crowdfunding.
bootstrapping.
microfinancing.
crowdsourcing.
Financing a business online through the collective involvement of others who provide donations,
loans, or investments is referred to as crowdfunding.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
60.
Award: 1.00 point
61.
Award: 1.00 point
Bootstrapping refers to
funding a business online through the collective involvement of others who provide loans.
buying, renting, or leasing a prepackaged business from another company.
inheriting or being given a stake in a family business.
using low-cost or free techniques to minimize the cost of doing business.
Bootstrapping refers to using low-cost or free techniques to minimize the cost of doing business.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
Anna helps brides-to-be choose wedding gowns that best suit their requirements and budget, and
also helps them with where they can find the right dress. She has made her home her virtual office;
she does not require external financing. Anna is using ________ to run her small business.
crowdfunding
franchising
bootstrapping
crowdsourcing
Bootstrapping refers to using low-cost or free techniques to minimize the cost of doing business.
References
Multiple Choice Learning Objective:
01-03 Dispel key
myths about small
businesses.
62.
Award: 1.00 point
63.
Award: 1.00 point
According to the BRIE model, which of the following is an element that is necessary to start a
business?
boundary
recognition
efficiency
income
Boundary is one of the elements in the BRIE model.
References
Multiple Choice Learning Objective:
01-04 Identify
actions key to
becoming a small
business.
According to the BRIE model, ________ sets up a business as a firm.
intention
exchange
franchise
boundary
A business needs the benefits of a boundary—something that sets it up as a firm.
References
Multiple Choice Learning Objective:
01-04 Identify
actions key to
becoming a small
business.
64.
Award: 1.00 point
65.
Award: 1.00 point
According to the BRIE model, which of the following sets a firm off from the buying or selling or