Reference no: EM13838057

1.Jim is beginning his research on franchise businesses in order to find one that meets his needs. A quick, easy way to get general information is to

A. look up Internet sites.(X)

B. call the corporate headquarters.

C. ask a local franchise owner.

D. check the Yellow Pages.

2. Which one of the following may be the least valuable source of advice when you're researching the market for your new business?

A. Small Business Administration

B. Online attorneys who offer 24/7 Web site service (X)

C. Other business owners with similar businesses

D. Local attorneys who specialize in business law

3. Once you've chosen your business and focused on your niche, the next step is to

A. write your business plan.

B. research the amount of capital you'll need. (X)

C. establish a Web presence.

D. research the best location for your shop.

4. If teamwork and support are high on your priority list, a _______ may be a poor choice for a business.

A. sole proprietorship. (X)

B. corporation.

C. close corporation.

D. partnership.

5. An Internet search for information about franchise businesses will not help you find out

A. support you'll receive from the parent corporation.

B. start-up costs.

C. the variety of franchise businesses available.

D. the number of hours you'll have to put in. (X)

6. The overwhelming majority of existing businesses are

A. corporations.

B. partnerships.

C. sole proprietorships.(X)

D. close corporations.

7. Which one of the following types of businesses has the least amount of personal liability?

A. Close corporation

B. Corporation(X)

C. Sole proprietorship

D. Partnership

8. Your beachside inn will be ready to open next spring. To get in on the summer tourist trade, it will be necessary to

A. offer bargain rates at first.

B. advertise heavily in local newspapers.

C. give it an unforgettable name.

D. establish a strong Web presence.(X)