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Study Resources (Business Management)

  71) What is intellectual property? Why is it called "intellectual" property? Why is intellectual property such an important issue for entrepreneurial firms? 72) What are the two primary rules of thumb for determining whether intellectual property protection should be pursued for a particular intellectual asset? 73) Identify and briefly describe the three.
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  51) Intellectual property is any product of human intellect that is intangible but has value in the marketplace. 52) Patents, trademarks, copyrights, and licenses are the four key forms of intellectual property. 53) A patent is a grant from the federal government conferring the rights to exclude others from making, selling, or.
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  1) GiftZip, the company profiled in the opening feature for Chapter 1, makes money via: A) payments from companies that offer gift cards for displaying their cards on the site B) the direct sale of gift cards displayed on its site C) monthly subscription fees D) online advertising E) earning an affiliate fee for gift.
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  41) According to the textbook, entrepreneurship has historically had: A) a major impact on the economy and minor impact on society B) a minor impact on both the economy and society C) a major impact on society and minor impact on the economy D) a major impact on both the economy and society E) no.
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  1) inDinero, the company profiled in the opening feature for Chapter 10, is described by its cofounders as "the fastest way for small businesses to manage their finances." Which of the following is not true about inDinero's founding story? A) In 2009, inDineor's founders applied to TechStars, which is a Boulder,.
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  21) The Partnering for Success feature in Chapter 12 starts by talking about Gary Schwartzberg, who, along with a partner, developed a new type of bagel dubbed the "Begeler," which was eventually licensed to Kraft. According to the feature, entrepreneurs and inventors, like Gary Schwartzberg, are finding that large consumer.
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  11) The Partnering for Success feature in Chapter 13 focuses on Threadless, the popular community-centered T-shirt design site. According to the feature, at one point during its early growth, Threadless almost collapsed under the weight of operational problems. Threadless solved the problem by: A) hiring professional managers B) replacing the founder CEO.
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  41) Efforts to establish and maintain a company's image with the public are referred to as: A) open relations B) public relations C) civic relations D) community relations E) advertising 42) Every year thousands of electronic products manufacturers gather in Las Vegas to display their products and to see what their competitors are up to. This.
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  31) According to the textbook, the toughest decisions regarding business growth are made in the ________ stage of the organizational life cycle. A) introduction B) early growth C) continuous growth D) maturity E) decline 32) According to the textbook, a well-managed business that finds its products and services are mature often: A) replaces its board of directors.
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  21) According to the textbook, entrepreneurs are: A) gamblers B) moderate risk takers C) aggressive risk takers D) forceful risk takers E) minimal risk takers 22) Suppose you are a Small Business Development Center counselor and you're looking at the personality profiles of five potential entrepreneurs. Based on the profiles, which individual has the most desirable.
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  1) PurBlue Beverages, the company profiled in the opening feature for Chapter 13, sells bottled water, under the GIVE brand. GIVE bottled water has not one but two unusual twists. First, 10 cents of every bottle sold is donated to charity. And second: A) the bottles come in four colors (each.
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  35) The ________ ratio tells you whether you have enough cash to cover your current debt. A) financial B) operating C) income D) quick 36) If you extend credit, it is critical to minimize this number to keep cash flowing. A) receivable turnover ratio B) inventory turnover ratio C) collection-period ratio D) debt-to-equity ratio 37) Firms are concerned about liquidity,.
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  9) Owner's equity is also called ________. A) debt B) assets C) liabilities D) net worth 10) Cash itself or items that could be quickly turned into cash or will be used within 1 year are called ________. A) liquid assets B) long-term assets C) current assets D) liquid cash 11) Liabilities that will be paid over a period of.
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  61) Entrepreneurs are usually moderate, rather than high, risk-takers. 62) Entrepreneurs are motivated primarily by money. 63) In terms of the "types" of startup firms, entrepreneurial firms bring new products and services to market. 64) Over the past 10 years, the demographic makeup of entrepreneurial firms has remained fairly stable in the United.
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  21) A brief carefully constructed statement that outlines the merits of a business opportunity is called a(n): A) subway speech B) sway speech C) bootstrap speech D) teaser speech E) elevator speech 22) The Partnering for Success feature in Chapter 10 focuses on TechStars and Y Combinator: A New Breed of Start-Up Incubators. TechStars is headquartered.
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  31) A trademark is registered with the: A) U.S. Commerce Department B) Federal Trade Commission C) Securities and Exchange Commission D) Federal Patent, Copyright, and Trademark Office E) U.S. Patent and Trademark Office 32) A form of intellectual property protection that grants to the owner of a work of authorship the legal right to determine how.
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  20) If Jacques invests $20,000 at 10% interest for 3 years, what will the future value of the money be? A) $26,000.00 B) $20,606.02 C) $23,606.02 D) $26,620.00 21) The ________ value of money is the amount it will be worth a number of periods from the present. A) present B) future C) cash D) investment 22) ________ is the.
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  71) What is entrepreneurship? What is the essence of entrepreneurial behavior? 72) Describe the three primary reasons that people become entrepreneurs and start their own firms. 73) Describe the four main characteristics of successful entrepreneurs.     .
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  1) Which statement best describes how the cash flow statement differs from the income statement? A) The income statement records sales and expenses when they happen, not when cash is actually exchanged. The cash flow statement records cash inflows and outflows when they actually occur. B) The income statement records income, as it.
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  1) True You Cosmetics, the company profiled in the opening feature in Chapter 11, sells cosmetics products. The company's marketing efforts to date have focused heavily on: A) Google AdWords and AdSense B) print advertising C) radio D) social media E) television advertising 2) Andy Sanders owns a sporting goods store that appeals to hunters.
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  11) According to the textbook, beyond their own funds, the second source of funds for many new ventures is: A) government grants B) business angels C) friends and family D) banks E) venture capital 12) Bill and Megan Tempelton are planning to open a smoothie restaurant near a large soccer complex in Greeley, Colorado, and need.
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  1) Metroleap Media, Inc., places music lyrics on the Internet. The major hurdle that Metroleap Media had to overcome to become a legitimate business was to: A) find ways to protect its trademark B) find ways to protect its trade secrets C) obtain a copyright on its Web site D) obtain a patent on.
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  11) A ________ illustrates a firm's positioning strategy relative to its major rivals. A) product attribute map B) positioning analysis grid C) positioning plot D) competitive analysis grid E) positioning diagram 12) A product attribute map is used to help a firm determine: A) if it is emphasizing benefits rather than features B) if its branding strategy.
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  61) Most business angels remain fairly anonymous and are matched up with entrepreneurs through referrals. 62) Venture capital is money that is invested by venture capital firms in startups and small businesses with exceptional growth potential. 63) The percentage of the profits the venture capitalist gets is called the "carry." 64) Venture capital.
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  31) An important part of obtaining venture capital funding is going through ________, which refers to the process of investigating the merits of a potential venture and verifying the key claims made by the business plan. A) appropriate diligence B) fit diligence C) due diligence D) prior diligence E) responsible diligence 32) In regard to the.
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  18) What is the purpose of financial ratio analysis? 19) To see how costs are affecting net profit, try analyzing the income statement by expressing each ________. A) as a percentage of costs B) as a percentage of profit C) as a percentage of sales D) as a percentage of administrative expense 20) Which of the.
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  41) ________ is a financial transaction whereby a business sells its accounts receivable to a third party at a discount in exchange for cash. A) Factoring B) Vendor credit C) Peer-to-peer lending D) Crowdfunding E) Leasing 42) Prosper is the best known: A) factor B) provider of SBA guaranteed loans C) peer-to-peer lending network D) provider of.
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  11) The sole entity responsible for granting patents in the United States is the: A) U.S. Patent and Trademark Office B) Federal Patent, Copyright and Trademark Office C) Securities and Exchange Commission D) U.S. Departments of Patents E) U.S. Treasury Department 12) Since the first patent was granted, there have been over ________ patents granted in.
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  41) A company's customer list is most commonly protected under ________ regulations. A) patent B) copyright C) trade secret D) trademark E) collective mark 42) A ________ is any formula, pattern, physical device, idea, process, or other information that provides the owner of the information with a competitive advantage in the marketplace. A) patent B) copyright C) trademark D) trade.
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  51) There are three reasons that most firms need to raise money during their early life: cash flow challenges, capital investments, and lengthy product development cycles. 52) Typically, the seed money that gets a company off the ground comes from a commercial bank. 53) The vast majority of founders contribute personal funds.
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  27) In the United Kingdom, the income statement is called the ________. A) group profit and loss account B) balance sheet C) cash flow analysis D) None of the above. 28) Return on Sales (ROS) is also called a(n) ________. A) contribution margin B) gross margin C) profit margin D) operating margin 29) The expression, "What you made over what.
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