Business Startup: Q&A

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Questions and Answers

Which of the following is NOT a necessary condition for starting a business?

  • Having a business license
  • Having capital
  • Having a premise
  • Having professional qualifications (correct)

A company is a business established by:

  • Two or more contributing parties
  • One owner who is also an investor
  • Both A and B (correct)
  • None of the above

A joint venture business includes:

  • State-owned capital contribution
  • Foreign capital contribution
  • Both A and B (correct)
  • None of the above

Why is market segmentation necessary?

<p>Both A and B are correct (B)</p> Signup and view all the answers

What type of capital is a company's charter capital?

<p>Capital contributed by members (C)</p> Signup and view all the answers

Based on the analyses in a business plan, business owners and investors can:

<p>Both A and B are correct (D)</p> Signup and view all the answers

Which type of business does NOT have legal person status?

<p>Private Enterprise (A)</p> Signup and view all the answers

Which type of business should be chosen for starting a business?

<p>Private Enterprise (B)</p> Signup and view all the answers

Which of the following is a criterion for selecting key management personnel?

<p>Professional expertise and related skills (A)</p> Signup and view all the answers

Why is it necessary to select strategic suppliers?

<p>Both A and B are correct (C)</p> Signup and view all the answers

Before starting a business, an idea needs to be:

<p>Adjusted and developed into a commercially viable idea (B)</p> Signup and view all the answers

A business is an organization that:

<p>Both A and B are correct (C)</p> Signup and view all the answers

A business plan should clearly state:

<p>All of the above (D)</p> Signup and view all the answers

A Business is:

<p>An organization or individual with business registration (A)</p> Signup and view all the answers

Predicting market size helps answer the question of:

<p>Whether to develop a business idea (C)</p> Signup and view all the answers

Employees review their company's business plan to:

<p>Understand the vision and mission of the company (B)</p> Signup and view all the answers

A production and operation plan includes the following, EXCEPT:

<p>Pricing strategy (A)</p> Signup and view all the answers

In business, management labor is understood as:

<p>Achieving management goals through others (B)</p> Signup and view all the answers

Why should business owners review business plans?

<p>Both A and B are correct (C)</p> Signup and view all the answers

Documents for business registration of a 1-member Limited Company include:

<p>A and B are correct (C)</p> Signup and view all the answers

Steps for personnel recruitment implementation include:

<p>Both A and B are correct (D)</p> Signup and view all the answers

A successful business idea, from a financial perspective, is one that:

<p>Helps the business owner quickly pay off debts (D)</p> Signup and view all the answers

What activities constitute business operations?

<p>All of the Above (D)</p> Signup and view all the answers

Defining the working hours of a business depends on all of the following EXCEPT:

<p>Employee preferences (A)</p> Signup and view all the answers

What is the purpose of personnel recruitment?

<p>To add labor to meet staffing needs (C)</p> Signup and view all the answers

A financial plan typically includes:

<p>A, B, and C are all true (A)</p> Signup and view all the answers

A Limited Liability Company (LLC) with 10 members must have:

<p>Members' Council (C)</p> Signup and view all the answers

A business equips facilities based on:

<p>All of the Above (D)</p> Signup and view all the answers

Which of the following qualities is NOT essential for a business person?

<p>Aggressiveness (D)</p> Signup and view all the answers

An requirement when choosing technology includes:

<p>All of the above (D)</p> Signup and view all the answers

From an legal aspect, a Private Enterprise is a firm that:

<p>Is NOT allowed to issue bonds (C)</p> Signup and view all the answers

From an legal aspect, a 2-member Limited Liability Company is a type of business:

<p>A, B are correct (C)</p> Signup and view all the answers

The KD plan helps:

<p>A, B, C are correct (A)</p> Signup and view all the answers

Strategic product analysis of a business includes:

<p>A and B are correct (B)</p> Signup and view all the answers

A marketing plan should do what?

<p>Both A and B (A)</p> Signup and view all the answers

Market research is:

<p>All of the above are true (D)</p> Signup and view all the answers

Recurring operating expenses include:

<p>Salaries, wages (B)</p> Signup and view all the answers

Business registration documents for a partnership company include:

<p>A, B are true (A)</p> Signup and view all the answers

What skills are needed from a business person?

<p>A, B, C are true (B)</p> Signup and view all the answers

Which kind of business entities has a limit on the member count that cannot exceed 50?

<p>Limited-Liability Company (C)</p> Signup and view all the answers

Why must businesses segment their market?

<p>All options are true (A)</p> Signup and view all the answers

The documents in business registration for an individual business include:

<p>A request for business registration (C)</p> Signup and view all the answers

Flashcards

A business that DOES NOT need?

Doesn't require specialized academic qualifications.

A company is an enterprise due to?

A company is an enterprise formed by two or more parties contributing capital.

What does a joint venture include?

Includes state and foreign capital contributions.

Why segment the market?

Businesses can't attract all buyers in the market the same way.

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What type is the company's charter capital?

Members' equity contribution.

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What can decision be made from a KD plan?

Decide whether to start a business or adjust plans.

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Type of DN not having legal status?

It doesn't have legal entity.

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What KNKD type should be chosen?

The DNTN type.

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Essential criteria for selecting key management?

Specialized qualifications and related skills.

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Why choose strategic suppliers?

Produce and provide high-quality products/services regularly.

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Before starting a business, an idea needs to?

Adjust and develop into a commercial idea.

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What is DN as an organization?

It has its own name and assets.

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What does a good plan require?

Business activities, mission, and strategies.

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A bussiness is?

Organized, registered individuals/entities for business.

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What does market size prediction help address?

Helps determine if market entry is worthwhile.

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What does right KD plan does?

Decide the DN size.

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Why do staff review the KD plan?

Understand the DN vision and mission.

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Except for the production operational plan includes?

Production time, location.

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What is management labor?

Achieving management objectives through others.

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Why do DN owners need to consult plan?

Ensure logic, adapt to change.

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TV company registration includes what paperwork?

Documents, business licenses.

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What is required for recruiting?

Job descriptios and workload analysis.

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Succesful KD helps what aspects?

Help the owner to quikly pay debts.

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What activities are included in KD?

Trading goods, providing services, and investing.

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What is NOT influencing work hours?

Personal staff preferences.

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The purpose of recruiting personal?

Adding/meeting staffing needs.

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Financial statements, cash flow and ratios.

The Financial planning must include?

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From the provided options, what will the company includes?

Members' Council.

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What factors does bussines equips from?

Based on financial capabilities, business scope, trends.

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Needed factors from a KD owner?

Creativity, effectiveness, and more.

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When choosing technologies, consider?

Product quality, efficiency, and safety.

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Regarding laws, DN is what?

A DN forbidden.

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What does members will have?

The Council of memebers.

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How can KD will help?

Helps DN owners monitor activities and secure capital.

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product strategies in KD is about?

Description and benifits.

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What is essencial for markating?

Target customers.

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Why do you market statergies.

Evaluate business prospects, clients, and categories.

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Operations will include?

Expenses: labor, materials, website.

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Registration file that will be filed by KD?

Legal certification, company charter.

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Qualities need as a KD?

Bargaining.

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DN factors is?

Limited liability, limited capital.

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Study Notes

Business Startup Questions and Answers

  • Specialized qualifications are not necessarily required for starting a business.

  • A company is formed by two or more parties contributing capital or by a single owner investing.

  • Joint ventures involve capital contributions from both the state and foreign entities.

  • Market segmentation is necessary because businesses cannot attract all buyers with a single approach.

  • A company's charter capital consists of members' contributions.

  • Business owners and investors can determine whether to proceed with business activities based on analyses in the business plan.

  • Private enterprises lack legal entity status.

  • A private enterprise (DNTN) is the suitable type to choose when starting a business.

  • All managerial personnel selection criteria include professional qualifications and relevant skills.

  • Strategic supplier selection is essential for producing and consistently delivering high-quality products and services.

  • An idea must be adjusted and developed into a commercial concept before starting a business.

  • An organization is known as a business if it has a separate name and assets.

  • A business plan should clearly state business operations, mission, and goals.

  • A business is an entity or person authorized to conduct business.

  • Predicting market size helps answer questions about determining the scope and scale of your business

  • A company's decision on its size is based on its customer demographics

  • Employees review their company's business plan to comprehend the company's vision and mission.

  • A production operations plan encompasses all aspects, except pricing strategies.

  • In business, management labor refers to achieving managerial objectives through others.

  • Business owners should review their business plan to modify plans and react to market shifts.

  • A business registration for establishment of a Limited Liability Company (LLC) includes: legal capital verification(depending on the industry), copy of professional certificates, and list of founding share holders.

  • Job deployment steps in recruitment include job description and workload analysis.

  • A financially successful business idea can generate money.

  • Business operations include trading goods, providing services, and investing.

  • Determination of work hours by a business doesnt depend on employee preferences

  • Recruitment focuses on increasing labor to meed job deployment needs

  • Financial plans contain essential underlying KD assumptions and 3-5 year projections.

  • Companies with 10 members should hold a member meeting

  • A business relies on its financial capacity, scale and market trends when investing in infrastructure.

  • A business person requires creativity and practical skills but not necessarily a fondness of competing.

  • Technology option requires quality assurance, efficiency, and safety.

  • Regarding the law, privately owned businesses cannnot generate stock

  • Legally a two member LLC is a company that must have members council

  • A business plan helps shareholders supervision operational activities

  • A business strategy analysis is a summary

  • A marketing scheme must define target customers

  • Market research is identifying opportunities

  • Operational outgoing costs include worker renumeration

  • A business record for setting up a joint stock company must include a draft of the companies regulations.

  • An entrepreneur skill set includes negotiation

  • A limited liability corporation has less than 50 partners

  • Businesses cluster segment the markets today to pinpoint customer requirements.

  • A household is not required to register when doing business

  • A goverment business uses goverment funding

  • Market patterns change with the trends

  • Characteristics of competing apart from retail cost - trust in your products and service packages

  • Establishing business headquarters is related to resource availability

  • A corporate plan must have goals

  • A business technique is market evaluation

  • An employee should be valued from their potential

  • A business plan is to help make the decision to launch a company

  • The outline of the business plan includes information from the different departments

  • Website analysis is not included when analyzing the competion

  • Market reseach helps with understanding

    • Competitors
    • Identifying possibilities
    • And corporate surroundings
  • A successful business puts resources into building the customers view

  • Businesses for legalities must abide by specific guidelines

  • A business manager must lead the direction of the busines.

  • The role of the market resarch is to look into trading partners and market styles

  • As a brand business must be original

  • During market entry the company needs time to examine logistics and finance

  • Client base must be identified by age and gender

  • The immediate market sector

  • Market studies is the period of studying brand-loyalty consumers.

  • You need a team of consultants to set up your business

    • Funding
    • Construction plan
    • Business regulations and law
  • Startup costs aren't an expense after you set up your organization

  • The business set-up uses Direct management to keep the business driving forward with high yield

  • Viewers look to the business intend to see mission vision and intentions

  • Innovation is required from startup

  • A business is owned by the shareholders

  • A private venture does not require industry feedback

  • It's a smart method to think of a modern product or service To get a new idea or thought about an aspect is imagination

Multiple Choice Exam Questions

  • According to the multiple-choice exam questions, specialized qualifications is not necessarily required for starting a business

  • According to the multiple-choice exam questions, a company is formed by two or more parties contributing capital or by a single owner investing.

  • According to the multiple-choice exam questions, joint ventures involve capital contributions from both the state and foreign entities.

  • According to the multiple-choice exam questions, market segmentation is necessary because businesses cannot attract all buyers with a single approach.

  • According to the multiple-choice exam questions, a company's charter capital consists of members' contributions.

  • According to the multiple-choice exam questions, business owners and investors can determine whether to proceed with business activities based on analyses in the business plan.

  • According to the multiple-choice exam questions, private enterprises lack legal entity status.

  • According to the multiple-choice exam questions, a DNTN is the suitable type to choose when starting a business.

  • According to the multiple-choice exam questions, all managerial personnel selection criteria include professional qualifications and relevant skills. According to the multiple-choice exam questions, strategic supplier selection is essential for producing and consistently delivering high-quality products and services.

  • According to the multiple-choice exam questions, an idea must be adjusted and developed into a commercial concept before starting a business.

  • According to the multiple-choice exam questions, an organization is known as a business if it has a separate name and assets.

  • According to the multiple-choice exam questions, a business plan should clearly state business operations, mission, and goals.

  • According to the multiple-choice exam questions, a business is an entity or person authorized to conduct business.

  • According to the multiple-choice exam questions, predicting market size helps answer questions about determining the scope and scale of your business

  • According to the multiple-choice exam questions, a company's decision on its size is based on its customer demographics

  • According to the multiple-choice exam questions, employees review their company's business plan to comprehend the company's vision and mission.

  • According to the multiple-choice exam questions, a production operations plan encompasses all aspects, except pricing strategies.

  • According to the multiple-choice exam questions, in business, management labor refers to achieving managerial objectives through others.

  • According to the multiple-choice exam questions, business owners should review their business plan to modify plans and react to market shifts.

  • According to the multiple-choice exam questions, a business registration for estabilishment of a LLC includes legal capital verification depending on the industry and copy of profession certificates, list of founding share holders.

  • According to the multiple-choice exam questions, job deployment steps in recruitment include job description and workload analysis.

  • According to the multiple-choice exam questions, a financially successful business idea can generate money.

  • According to the multiple-choice exam questions, business operations include trading goods, providing services, and investing.

  • According to the multiple-choice exam questions, determination of work hours by a business shouldnt depend on employee preferences

  • According to the multiple-choice exam questions, recruitment focuses on increasing labor to meed job deployment needs

  • According to the multiple-choice exam questions, financial plans contain essential underlying KD assumptions and 3-5 year projections.

  • According to the multiple-choice exam questions, companies with 10 members should hold a members meeting.

  • According to the multiple-choice exam questions, a business relies on its financial capacity, scale and market trends when investing in infrastructure.

  • According to the multiple-choice exam questions, a business person requires creativity and practical skills but not neccesarily a fondness of competing.

  • According to the multiple-choice exam questions, technology option requires quality assurance, efficiency, and safety.

  • According to the multiple-choice exam questions, legally a two member LLC is a company that must have members council

  • According to the multiple-choice exam questions, a business plan helps shareholders supervision operational activities

  • According to the multiple-choice exam questions, a business strategy analysis is a summary

  • According to the multiple-choice exam questions, a marketing scheme must define target customers

  • According to the multiple-choice exam questions, market research is identifying opportunities

  • According to the multiple-choice exam questions, operational outgoing costs include worker renumeration

  • According to the multiple-choice exam questions, a business record for setting up a joint stock company must include a draft of the companies regulations.

  • According to the multiple-choice exam questions, an entrepenreur skill set is

  • According to the multiple-choice exam questions, a limited liablity corporation hs less than 50 partners

  • According to the multiple-choice exam questions, businesses cluster segment the markets today to pinpoint customer requirements.

  • According to the multiple-choice exam questions, a household is required to register when doing business

  • According to the multiple-choice exam questions, a goverment business uses goverment funding

  • According to the multiple-choice exam questions, market patterns change with the trends

  • According to the multiple-choice exam questions, characteristics of competing apart from retail cost - trust in your products and service packages

  • According to the multiple-choice exam questions, establishing business headquarters are related to resource availability

  • According to the multiple-choice exam questions, a corporate plan must have goals

  • According to the multiple-choice exam questions, a business technique is market evaluation

  • According to the multiple-choice exam questions, an employee should be valued from their potential

  • Acording to the multiple-choice exam questions, a business plan is to help make the decision to launch a company

  • According to the multiple-choice exam questions, the outline of the business plan includes information from the different departments

  • According to the multiple-choice exam questions, website analysis is not included when analyzing the competion

  • According to the multiple-choice exam questions, Market reseach helps with understanding

    • Competitors
    • Identifying possibilities
    • And corporate surroundings
  • According to the multiple-choice exam questions, a successful busines is building the customers view

  • According to the multiple-choice exam questions, a business for legalities must abide by specific guidelines

  • According to the multiple-choice exam questions, a business manager must lead the direction of the busines.

  • According to the multiple-choice exam questions, the role of the market resarch is to look into trading partners and market styles

  • According to the multiple-choice exam questions, as a brand, business must be original

  • According to the multiple-choice exam questions, during market entry the company needs time to examine logistics and finance

  • According to the multiple-choice exam questions, a cient base must be identified by age and gender

  • According to the multiple-choice exam questions, a

  • The immediate market sector has to be understood

  • According to the multiple-choice exam questions, market studies is the studying of the brand

  • According to the multiple-choice exam questions, that you need consultants to help with the following +

  • According to the multiple-choice exam questions,startup costs arnt an expense after you set up your organization

  • According to the multiple-choice exam questions, the setup uses direct management to move along

  • According to the multiple-choice exam questions, Viewers what to know the intention which is their mission and vision to know more about the brand

  • According to the multiple-choice exam questions, Imagination is required from startup

  • According to the multiple-choice exam questions, business is owned by shareholders

  • A private venture doesnt require industry feedback

  • Its a smart method to think of a product

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