COPYRIGHTED MATERIAL
LET’S PRACTICE
Name: _____________________________________________________________________________
7. Which of the following is a requirement for all businesses in the U.S.? a. Copyright b. Employer’s Identification Number c. dba d. Trademark
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8. Ed recently opened a business: “Big Ed’s Auto Repair Shop”. Ed is losing money because he is having difficulty maintaining a proper inventory of spare auto parts. Some months he orders too many, and other months he orders too few. His suppliers are often late with their deliveries. These difficulties are costing his business money. Ed doesn’t have the experience to know how to handle these managerial difficulties. He needs help. Name and describe two associations he could consult for assistance. _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ PRODUCT PREVIEW 9. The advantages of buying an existing business do NOT include: a. pre-existing client base b. established inventory c. a stable of experienced employees d. guaranteed lower costs than starting a business 10. A small business consists of _____ or fewer employees; but over half of small businesses in the U.S. employ just ____ person(s)
2 PTS ___
1 PT ___
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a. 25; 7 b. 100; 1 c. 500; 1 d. 50; 10
1 PT ___
11. Catherine has a small business with several employees. She is applying to the bank for a business loan to fund the development of a new product. The bank has asked her for a particular document describing, in detail, the strategies by which her company will make money over the next few years, including a market analysis, and projected revenues. What is this document called? _ ____________________________________________________________________
Chapter 12 | Small Biz Whiz 236
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