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Question 6 2 pts Which of the following is a benefit of limited menu items at fast-food burger chain IN-N-Out: More customers Less product waste

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Question 6 2 pts Which of the following is a benefit of limited menu items at fast-food burger chain IN-N-Out: More customers Less product waste Less inventory expenses Both Band D Question 7 2 pts Investing in a Chick-fil-A franchise is much better than fast-food burger chain IN-N-Out because: Customers prefer impossible and Beyond Meat Burgers To purchase a MCD franchise requires a Net Worth of $1M + $1.5M to secure a franchise A smaller investment of $10,000 but the company takes 50% of prohts - 15% of sales Geographically limited to ~ 7 West Coast states, but soon to be in Colorado Trick Question. IN-N-Out is a private company that does NOT sell franchises O Question 8 2 pts All of the following provisions should be in the Executive Summary of a business plan except A summary of the quarterly revenue A brief description of the product or service The overall business strategy for success An estimate of how much capital will be needed to start the beness Question 9 2 pts Which of the following is TRUE with respect to the Small Business Administration (SBA)? The SBA operates as a bank in directly toaning money to a small business, The SBA requires that you create a business plan prior to applvirut for any SBA guanteed loan O A 504 Loan Program requires a 25% minimum down payment in exchange for 25% equity. The SBA does not guarantee small loans and only acts as conduit Question 10 2 pts Which of the following is TRUE for the Shark Tank segment involving Myostorm? Management original ASK ($150k) valued the company at $5m ($150k/10%) Mark Cuban teamed with Matt (Doplhins) and offered $150k for 50% of the company Final deal with Lori (QVC): $150k for 5% of the company + $1 royalty until $500k repay Mr. Wonderful proposed deal included a loan + royalty but NO equity D Question 11 2 pts Jane just graduated with a B.S. in Finance and received the following job offers: Chase Bank, $60,000: Consultants-R-We, $62,000; Bank of the West, $65,000; and SAC Hedge Fund, $70,000. If Jane takes the job offer from SAC Hedge Fund, her opportunity cost is: $60,000 $62,000 O $65.000 Nothing since she took the job offer with the highest starting salary D Question 12 2 pts Ronnie is in the process of establishing goals for his company. Which of the following is a goal? Our business should increase sales by 10% every year for the next 5 years Our business should increase sales every year Our business should increase sales by 10% O Our business should market to all customers Question 13 2 pts All of the following were contributing factors that caused SaltiSweet Ice Cream to fail EXCEPT: Grocery customers that pre-paid invoices Co-manufacturing partners that ripped up contracts and doubled the cost per unit Lack of capital raised in a timely manner High production costs => high MSRP at retail => low customer purchases Question 14 2 pts All of the following could be considered a Strength or Weakness for In-N-Out Burger, EXCEPT: Competitive landscape including McDonalds, Smash Burger, Five Guys, and Portillo's High quality ingredients and efficient supply chain Limited menu O Private company with a management team that helped build and grow the company D Question 15 2 pts There are two major causes of business failure that with some effort on the part of the entrepreneur, are, in many cases, avoidable. They are: O lack of resources and fierce industry competition inaffective business partners and economic downturns inability to find needed talent and currency fluctuations poor timing and lack of proper preparation harch o RI E BBC D Question 16 2 pts A Venture Capital investor is all of the following except. Usually organized as a form with a fund. Employees of the firm are professional investors Typically prefers high growth, large markets, and companies with competitive advantage Usually writes checks that are less than $10k, and does not care about Rate of Return Usually requires Board positions in the company to help exert control over management D Question 17 2 pts Before starting a business, in order to increase his/her chances for entrepreneurial success, the aspiring entrepreneurshould: quit his job Isolate himself from distractions like friends and family work in and team about the industry in which he intends to start the business AND establish a network of contacts prepare a will Question 18 2 pts The financial plan of a feasibility analysis should include all of the following except: O a detailed accounting of the amount of start-up capital required by the business and how and when that start- up capital will be used expected product pricing expected customer demand a copy of each founder's credit report Question 19 2 pts Capital acquired by a business with the understanding that the capital will have to be repaid by the business, usually within a defined time period and usually with interest, is called: equity capital debt capital agrant rewardbased crowdfunding Question 20 2 pts Capital acquired by a business as a result of selling some form of ownership of that business is called: O equity capital O debt capital a grant O reward-based crowdfunding Question 21 2 pts The accumulation of small amounts of capital from a large number of individuals via a campaign on the internet, such individuals generally expecting nothing in return (other than a news update, a small token gift, or a promised product or service, usually of nominal value), is called: entrepreneurial crowdfunding Olending-based crowdfunding equity crowdfunding reward-based crowdfunding Question 22 2 pts Which of the following is TRUE about Credit Score / FICO Score: O typically between 300 and 850; calculated from your credit report to gauge your reliability as a borrower typically between 1 and 10; calculated from the highest value assigned by the government randomly assigned number, Experian, Equifax, and TransUniorflise to monitor Covid-19 tracing the lower the number, the better chances to obtain credit at a very low cost D Question 23 2 pts According to the Securities and Exchange Commission (SEC), An accredited investor is: O a sophisticated investor who resides in the Bahamas to escape U.S. taxes always an individual who typically makes less than $100.000 per year in income and has a net worth greater than $5 million, including his/her primary residence typically an individual who makes over $200,000 per year in income or has a net worth greater than $1 million excluding his/her primary residence O a family office who has successfully gone through Securities and Exchange Commission (SEC) training Accredited Investor (A) Training and is approved to invest in start-ups 3 Question 24 2 pts "Blue sky laws" are: environmental regulations regarding clean air Ostate securities laws y . state securities laws regulating clean air federal securities laws Question 25 2 pts All of the following are true about Regulation Dexcept: O Regulation D is the exemption related to private placements described in an amendment to the Securities Act of 1933 O Regulation D is a regulation that allows companies to raise capital through the issuance of securities without having to register those securities with the SEC. O Regulation D is the means by which many angel investors acquire their equity positions in young companies. Regulation Dincludes Regulation A and A+

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