- A photographer wants to turn her hobby into a business. She is researching the business options available. When 100 potential customers were surveyed, they provided the following responses:Which opportunity for starting a photography business would have the highest probability?
- Which characteristic would be beneficial to an entrepreneur?
- A DJ notices the number of customers attending her Saturday night dances is decreasing. What should the DJ do to create more loyal repeat customers?
- A fitness trainer provides her services to clients as a sole proprietorship. What are the tax implications for this structure?
- A consultant wants to use a form of personal communication to market his services to businesses during a conference. Which form of communication should be used?
- A real estate broker employs 10 real estate agents. The broker provides offices, administrative support, and marketing for her agents. Which of the following should outsourced?
- A pizza maker has come up with a new takeout restaurant concept that sells only large gourmet pizzas. Match the correct figure to the appropriate location in the break-even formula.
- An entrepreneur discovers that residents in a small rural area travel an average of 10 miles to shop at the nearest grocery store. The entrepreneur finds an old two story ranch house for sale located on a busy road in the center of the rural area. What will the entrepreneur need to obtain before proceeding?
- A fitness trainer in a neighborhood is trying to add new consumers who have recently moved into the neighborhood. What is effective for attracting new customers?
- A mobile lunch truck is introducing a new seasonal salad. Which group of people would be the most likely to purchase this new salad?
- An auto mechanic opens a business in a community that has a history of auto repair shops delivering poor quality workmanship. How can the new auto mechanic regain the trust of local customers?
- The owner of a landscaping business is developing a cash flow budget for the coming month. If the beginning cash balance is $1,500, what will be the ending cash balance?
- A non-profit organization wants to hire a Director. The organization has been operating for only a year and is growing fast. The newly created Director position will responsible for all aspects of operating the entire organization, so the founders want to hire a candidate with at least 10 years experience. Which factor could prevent the hire?
- An independent gas station sits besides a busy highway. Half of its customers are travelers passing through the area. Why would the gas station charge more for purchases made with a credit card?
- A beekeeper is analyzing the cash flow for his business for the prior year. What was the ending inventory value?
- A chef is interested in opening a restaurant in a nearby town. He wants to learn more about possible competitors. Where should the chef go to obtain a list of restaurants in the nearby town?
- An entrepreneur invents a new kind of ice cream scoop that is heated in a microwave oven to make scooping ice cream easier. What should the entrepreneur do to protect the invention?
- The owner of a new automobile sales lot is applying for two loans at the bank. Why would the bank be more inclined to approve the first loan but not the second?
- The owner of Quality Electrical is analyzing financial parts of the Income statement including Net Sales, Total Cost of Goods Sold, Gross Profit, Total expenses, Pre-Tax Profit and Net Profit. Match each figure to the correct calculation in the income statement worksheet
- An electrician has fixed costs of $1,500 per month. The only variable costs are needed for labor and supplies. How many repairs are needed to break-even for the year?