UGRD-ITE6301

Technopreneurship
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. UGRD-ITE6301-2033T
. Week 14: Final Examination
. Final Exam

Started on Tuesday, 29 June 2021, 2:43 PM

State Finished
Completed Tuesday, 29 June 2021, 3:07 PM
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Time taken 23 mins 36 secs
Grade 50.00 out of 50.00 (100%)
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Question 1

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Question text

Franchises will enable the owner to be removed from day–to–day

management.

Select one:
 True

False

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The correct answer is 'False'.

Question 2

Correct

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Question text

which of the following is/are the Disadvantages of Buying a Business?

Select one:

all of the choice

 Accounts receivable may be worth less than face value

Inventory may be stale

Changes can be difficult to implement

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Your answer is correct.

The correct answer is: all of the choice

Question 3

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Question text
 It protects business buyer from the claims unpaid creditors might have
against a company’s assets.

Select one:

Contract assignment

Restrictive covenant

Bulk transfer

Lien

Feedback

Your answer is correct.

The correct answer is: Bulk transfer

Question 4

Correct
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Question text

In General Partnerships, each partner can co-own assets and share

profits.

Select one:

True

False

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The correct answer is 'True'.

Question 5

Correct

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Question text

which of the following is/are the Disadvantages of Buying a Business?

Select one:

Equipment may be obsolete or inefficient

Location may have become unsatisfactory

Change and innovation can be difficult to implement

all of the choices

Feedback

Your answer is correct.

 The correct answer is: all of the choices

Question 6

Correct

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Question text

which of the following is/are the Disadvantages of Buying a Business?

Select one:

Inventory may be stale

Accounts receivable may be worth less than face value

It may be overpriced
 all of the choices

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Your answer is correct.

The correct answer is: all of the choices

Question 7

Correct

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Question text

which of the following is/are the Advantages of Buying a Business?

Select one:

It may continue to be successful

 all of the choices

It may already have the best location

Employees and

suppliers are established

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Your answer is correct.

The correct answer is: all of the choices

Question 8

Correct

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 Question text

There are some negative attributes of buying a franchise and those

include?

Select one:

Unsatisfactory training programs

Market saturation

Limited product line

all of the choices

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 9
Correct

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Question text

Why would a new business venture choose not to operate as a

partnership?

Select one:

Potential for conflict between partners

Unlimited liability for general partners

all of the choices

 Limited life

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Your answer is correct.

The correct answer is: all of the choices

Question 10

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Question text

The contract in which a business seller agrees not to compete with the
buyer within a specific time and geographic area.

Select one:

Contract assignment
 Restrictive covenant

Bulk transfer

Lien

Feedback

Your answer is correct.

The correct answer is: Restrictive covenant

Question 11

Correct

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Question text
 Which of the following is not a disadvantage of sole proprietorship?

Select one:

Difficulty in attracting qualified employees

none of the choices

Unstable business life

Large personal time commitment

Feedback

Your answer is correct.

The correct answer is: none of the choices

Question 12

Correct
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Question text

Which of the following is/are the types of franchising systems?

Select one:

Pure (or comprehensive or business format) franchising

Product distribution franchising

Tradename franchising

all of the choices

 Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 13

Correct

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Question text

The buyer’s ability to assume rights under seller’s existing contracts.

Select one:

Restrictive covenant

Contract assignment
 Bulk transfer

Lien

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Your answer is correct.

The correct answer is: Contract assignment

Question 14

Correct

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Question text

Which of the following is/are the benefits of franchising?

Select one:
 Greater chance for success

Site selection and territorial protection

all of the choices

Centralized buying power

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Your answer is correct.

The correct answer is: all of the choices

Question 15

Correct

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Question text

The creditors’ claims against an asset.

Select one:

Lien

Bulk transfer

Contract assignment

Restrictive covenant

Feedback

Your answer is correct.

 The correct answer is: Lien

Question 16

Correct

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Question text

which of the following is/are the Advantages of Buying a Business?

Select one:

It’s a bargain

Easier financing

You can use the previous owner’s experience

 all of the choices

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Your answer is correct.

The correct answer is: all of the choices

Question 17

Correct

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Question text

Franchises will be “all the same”.

Select one:

True

False
 Feedback

The correct answer is 'False'.

Question 18

Correct

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Question text

Franchises will be taking care of my business problems.

Select one:

True

False

Feedback

The correct answer is 'False'.

Question 19
Correct

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Question text

The step/s to consider in buying a franchise is/are _____ .

Select one:

Talk to existing franchisees

Ask the franchiser some tough questions

all of the above

 Make your choice

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Your answer is correct.

The correct answer is: all of the above

Question 20

Correct

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Question text

Don’t be in such a hurry to close the deal that you end up giving up
much of what you hoped to get.

Select one:

Preparation
 Patience

Poise

Persistence

Feedback

Your answer is correct.

The correct answer is: Patience

Question 21

Correct

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Question text

In General Partnerships, each partner is individually liable for all debts

and contracts of the partnership.
 Select one:

True

False

Feedback

The correct answer is 'True'.

Question 22

Correct

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Question text

Choose a form of organization by evaluating _____ .

Select one:

Owner’s liability for firm’s debts

 The ability to raise funds

all of the choices

The ease and cost of forming the business

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 23

Correct

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 Question text

Franchises will be economical.

Select one:

True

False

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The correct answer is 'False'.

Question 24

Correct

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Question text

Franchises will be a business “I” can run things the way “I” want to.

Select one:
 True

False

Feedback

The correct answer is 'False'.

Question 25

Correct

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Question text

Which of the following is/are the benefits of franchising?

Select one:

Standardized quality of goods and services

 all of the choices

Management training and support

Brand name appeal

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 26

Correct

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Question text
 which of the following is/are the Disadvantages of Buying a Business?

Select one:

"Inherited” employees may be unsuitable

“It’s a loser”

all of the choices

Previous owner may have created ill will

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 27
Correct

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Question text

Franchises will be safer and will not fail.

Select one:

True

False

Feedback

The correct answer is 'False'.

Question 28

Correct

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 Flag question

Question text

In Limited Partnerships, the dormant partners’ liability is limited to

their investment.

Select one:

True

False

Feedback

The correct answer is 'True'.

Question 29

Correct

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 Question text

Remain calm during the negotiation.

Select one:

Preparation

Patience

Persistence

Poise

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Your answer is correct.

The correct answer is: Poise

Question 30
Correct

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Question text

Which of the following is not an advantage of sole

proprietorship?

Select one:

none of the choices

Relative freedom from government regulation

Absence of special taxes

Owner’s rights to all profits

 Ease of dissolution

Feedback

Your answer is correct.

The correct answer is: none of the choices

Question 31

Correct

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Question text

Choose a form of organization by evaluating _____ .

Select one:
 the taxes

all of the choices

The aims and objectives of the various business

The desire of how to/not to share profits

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 32

Correct

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 Question text

There are some negative attributes of buying a franchise and those

include?

Select one:

all of the choices

Strict adherence to standardized operations

Franchise fees and profit sharing

Restrictions on purchasing

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 33
Correct

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Question text

Franchises will be the cheapest business option.

Select one:

True

False

Feedback

The correct answer is 'False'.

Question 34

Correct

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Flag question

Question text

Examine the needs of both parties and all of the relevant external
factors affecting the negotiation before you sit down to talk.

Select one:

Patience

Persistence

Preparation

Poise

Feedback
 Your answer is correct.
The correct answer is: Preparation

Question 35

Correct

Mark 1.00 out of 1.00

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Question text

Choose a form of organization by evaluating _____ .

Select one:

The ability to attract employees

all of the choices

 The degree of operating control the owner can retain

The taxes

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 36

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Why would a new business venture choose not to operate as a

partnership?

Select one:
 Sharing of profits

Limited life

Difficulty in leaving a partnership

all of the choices

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 37

Correct

Mark 1.00 out of 1.00

Flag question

Question text

Which of the following is not an advantage of sole

proprietorship?

Select one:

Owner’s rights to all profits

Owner’s absolute control of the business

none of the choices

Ease and low cost of formation

Feedback
 Your answer is correct.
The correct answer is: none of the choices

Question 38

Correct

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Question text

Franchises will be more successful based on its size.

Select one:

True

False

Feedback

The correct answer is 'False'.

Question 39
Correct

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Question text

In Limited Partnerships, each partner is controlled by one or more

general partners who have unlimited liability.

Select one:

True

False

Feedback

The correct answer is 'True'.

Question 40

Correct
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Question text

The benefits of franchising have proven to have a positive impact on the

success rate of franchises, beginning in the first year of operation,
compared to nonfranchise ventures.

Select one:

True

False

Feedback

The correct answer is 'True'.

Question 41

Correct

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Flag question

Question text

which of the following is/are the steps of Acquiring a Business?

Select one:

all of the choices

Investigate and evaluate candidate businesses and select the best one.

Explore financing

options.

Ensure a smooth transition.

 Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 42

Correct

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Question text

which of the following is/are the Advantages of Buying a Business?

Select one:

You

can “hit the ground running”

 Equipment is already installed

all of the choices

Inventory is in place and trade credit is established

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 43

Correct

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Question text

Which of the following is/are the benefits of franchising?

Select one:
 all of the choices

Financial assistance

Proven products and business formats

National advertising programs

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 44

Correct

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 Flag question

Question text

Franchises will be a business anyone can do.

Select one:

True

False

Feedback

The correct answer is 'False'.

Question 45

Correct

Mark 1.00 out of 1.00

Flag question

Question text
 Why would a new business venture choose to operate as a partnership?

Select one:

Diversity of managerial expertise

all of the choices

Relative freedom from government control

Flexibility to respond to changing business conditions

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 46

Correct
Mark 1.00 out of 1.00

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Question text

Which of the following is not a disadvantage of sole proprietorship?

Select one:

Unlimited liability of the owner for debts

Limited managerial expertise

Difficulty in raising capital

 none of the choices

Feedback

Your answer is correct.

The correct answer is: none of the choices

Question 47

Correct

Mark 1.00 out of 1.00

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Question text

The step/s to consider in buying a franchise is/are _____ .

Select one:

Consider your franchise options

Evaluate yourself
 Research your market

all of the choices

Feedback

Your answer is correct.

The correct answer is: all of the choices

Question 48

Correct

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Question text

Franchises will be able to have improvement potential.

Select one:
 True

False

Feedback

The correct answer is 'False'.

Question 49

Correct

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Question text

One of the primary reasons for interest in a franchise system is that the
franchisee is able to tap into the proven experience and guidance that
the franchise offers.

Select one:

True
 False

Feedback

The correct answer is 'True'.

Question 50

Correct

Mark 1.00 out of 1.00

Flag question

Question text

In Limited Partnerships, the dormant partners’ do not participate

actively in the firm’s operations.

Select one:

True

False
 Feedback

The correct answer is 'True'.

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