1) Manufacturing, warehousing, and ________ have similar considerations for the type and size of facility.

Select one:

a. services firms

b. retailing firms

c. not-for-profit organizations

d. distribution firms

2) As you hire employees, you will need to become aware of laws and taxes, including ________.

Select one:

a. anti-discrimination laws

b. payroll taxes

c. Fair Labor Standards Act and The Equal Pay Act of 1963

d. All of these.

3) As your business grows, have its financial records (its "books") checked annually by a reputable ________.

Select one:

a. accountant

b. software program

c. lawyer

d. CPO

4) One of the most important things you can do when you start a business is to learn how to manage your ________ so that you can get more done with efficiency.

Select one:

a. sales

b. time

c. costs

d. None of these.

5) Ways to value a business include comparison to other firms, benchmarking, or looking at a multiple of net earnings. Any of the methods is an attempt to arrive at a ________.

Select one:

a. profit maximizing price

b. future value

c. net present value

d. fair market value

6) In valuing a business, the methods that buyers and sellers can use include ________.

Select one:

a. book value

b. market-based value

c. Any of these.

d. future earnings

7) Which of the following is not a benefit of franchising to the franchisor?

Select one:

a. royalties

b. the minimal number of regulations regarding franchising

c. higher marketing and promotional costs

d. growth with minimal capital investment