Extending payments to suppliers is of generating funds

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Reference no: EM131738415

True and False Questions

1. Technical people are often the best source for entrepreneurs for identifying new business opportunities due to their expert knowledge. True False

2. A reflection task would involve thinking about what strategies should be used to solve a problem. True False

3. Clients and buyers are particularly important to include in your network because they can provide word-of-mouth advertising. True False

4. Organizational innovativeness consists of creating something new of value either by redefining the company's current products or services, developing new markets, or forming more formally autonomous or semiautonomous units or firms. True False

5. When the window of opportunity is open, the environment is unfavorable for entrepreneurs to exploit a new product or enter a new market with an existing product. True False

6. A narrow scope strategy reduces the risks associated with competition.True False

7. The entrepreneur's ability to recognize a business opportunity is a result of his or her knowledge and experience. True False

8. International entrepreneurship is the process of an entrepreneur conducting business activities across national boundaries. True False

9. Three major types of political risks that might be present are operating risk, transfer risk, and ownership risk. True False

10. Entrepreneurs, because of their lack of understanding of intellectual property, ignore important steps that they should have taken to protect these assets. True False

11. The claims section of a patent application is probably the most difficult section of the application to prepare since this area sets the criteria by which any infringements will be determined.True False

12. To maintain objectivity, the business plan should not be written by the entrepreneur. True False

13. In preparing the business plan, entrepreneurs can provide their own perspective and should consider the needs of external sources. True False

14. When preparing the industry analysis section of the business plan, using secondary sources is not appropriate. True False

15. Defining the purpose or objectives of marketing research is often the most difficult stage for an entrepreneur. True False

16. Investors accept that the management team draws a large salary for their contributions in early operations. True False

17. The sole proprietorship form of ownership gives owners the most control of business operations. True False

18. When developing operating and capital budgets, the entrepreneur can seek advice from experts, but should retain the final say so. True False

19. In projecting the operating expenses for the second and third year, it is helpful to first look at those expenses that will likely change over time. True False

20. Entrepreneurs look for financing their venture because of it is safer for them to do so. True False

21. Long-term debt financing is normally used to provide working capital to finance inventory, accounts receivable, and operation of the business. True False

22. Extending payments to suppliers is an example of generating funds internally. True False

23. Small Business Innovation Research grants are funded by federal agencies which provide a portion of their R&D funds to small businesses. True False

24. Research and development limited partnerships provide small businesses funds from investors looking for tax shelters. True False

25. The sponsoring company in a R&D limited partnership is the limited partner. True False

Reference no: EM131738415

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