1. When purchasing a business, non-liquid assets

a) should be valued at 20% of total fixed assets

b) should be considered not to have any value

c) should be subjected to an independent appraisal

d) should be ignored for business planning purposes

2. Starting a business from scratch can

a) requires a significant personal investment of money from the entrepreneurs

b) result in the latest amount of start up costs

c) is a proven model for surviving the first few years operations

d) reduce the usual risks inherent In a new business

3. which is not a common source of businesses for sale

a) real estate brokers

b) community centre ad board

c) internet

d) word of mouth

4. An analysis of competitors in a marketing plan would

a) asses legal restrictions

b) consider suppliers needs

c) be written for investors

d) determine who the competitors are

5. Starting a business from scratch may be chosen by an entrepreneur because

a) it provides a sense of satisfaction

b) it is the most likely strategy to lead to success

c) there is lots of government funding for this strategy

d) customers are often sympathetic to such start-ups