1.A small startup with less than 100 employees, that is usually self-funded, focused on a positive cash flow, and

1.A small startup with less than 100 employees, that is usually self-funded, focused on a positive cash flow, and

based on the skills of the founder is known as a

Entrepreneurial startup

Incubator

Microloan program

Venture capital startup

2.When performing a skills analysis, you should examine:

education

hobbies

work experience

all of the above

3.What your business does better than other businesses in the industry is known as its              ?

goal

competitive advantage

first-mover advantage

trend

4.A                is a statement that defines a firm's  purpose and summarizes how and where a firm will compete.

competitive map

gap analysis

mission

position

5.Which statement is not true regarding business plans?

It is better to create the business plan using your own words rather than using a cookie-cutter business plan program

All business plans are the same length

Business plans are developed and used differently in all businesses

Business plans serve as a guide for the entrepreneur to follow

6.What your business does better than other businesses in the industry is known as its              ?

goal

competitive advantage

first-mover advantage

trend

7.A                is a statement that defines a firm's  purpose and summarizes how and where a firm will compete.

competitive map

gap analysis

mission

position

8.Which statement is not true regarding business plans?

It is better to create the business plan using your own words rather than using a cookie-cutter business plan program

All business plans are the same length

Business plans are developed and used differently in all businesses

Business plans serve as a guide for the entrepreneur to follow

9.A snapshot of a business at a point in time.

Income statement

Balance sheet 

Cash Flow Statement

Profit and Loss Statement

10.An analytical tool used to organize information about direct competitors on all points of competition is known as a:

Competitive map

Gap analysis

Feasibility analysis

Skills analysis

11.                       are individuals or organizations that impact the success of a business:

stakeholders

incubators

shareholders

stockholders

12.This type of patent is for a new process, machine, article of manufacture, or composition of matter, or any new and useful improvement of those.