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Test Bank for Entrepreneurship, 1st Canadian Edition 1e William Bygrave, Andrew Zacharakis, Sean Wise (All Chapters) 1 / 4
Test bank for Entrepreneurship, Canadian Edition by Bygrave, Zacharakis, and Wise
Chapter 1: The Power of Entrepreneurship
True/False Statements
- In general, established businesses with less than 500 employees are considered SMEs or “small
and medium-sized enterprises.”
Answer: True
Learning Objective: 1.1 Describe entrepreneurship and small business in Canada
Section Reference: Entrepreneurship and Small Business in Canada
- A majority of small business owners feel their companies have increased their overall standard of
living.
Answer: False
Learning Objective: 1.1 Describe entrepreneurship and small business in Canada
Section Reference: Entrepreneurship and Small Business in Canada
- In 2014, the two sectors dominating the S&P/TSX 60 Index Fund were the energy and financial
sectors.
Answer: True
Learning Objective: 1.1 Describe entrepreneurship and small business in Canada
Section Reference: Entrepreneurship and Small Business in Canada
- Venture Capital is a source of growth funding exclusively for technology companies with the
potential for rapid, scalable growth.
Answer: False
Learning Objective: 1.1 Describe entrepreneurship and small business in Canada
Section Reference: Entrepreneurship and Small Business in Canada
- Historically, annual returns for venture capitalists have averaged 143% over the past several
decades.
Answer: False
Learning Objective: 1.1 Describe entrepreneurship and small business in Canada
Section Reference: Entrepreneurship and Small Business in Canada
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Test bank for Entrepreneurship, Canadian Edition by Bygrave, Zacharakis, and Wise
- The boom and bust cycle of the dot-com era is similar to other periods of commercial innovation
Answer: True
Learning Objective: 1.1 Describe entrepreneurship and small business in Canada
Section Reference: Entrepreneurship and Small Business in Canada
- Yahoo! Inc.’s IPO set the all-time record, in terms of capital raised, for Silicon Valley companies.
Answer: False
Learning Objective: 1.1 Describe entrepreneurship and small business in Canada
Section Reference: Entrepreneurship and Small Business in Canada
- Entrepreneurship did not grow very much after the Great Depression, until it began increasing in
the 1970’s.
Answer: True
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- Baby boomers are not as concerned about job security as were their parents.
Answer: True
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- The Fortune 500 employed 15 percent of the workforce in 2005.
Answer: False
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- There was a burst of venture capital backed startups in the last half of the 1960s.
Answer: True
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- It is estimated that angel investors invest between $500 million and $1-billion annually in
Canada’s growth-oriented companies
Answer: True 3 / 4
Test bank for Entrepreneurship, Canadian Edition by Bygrave, Zacharakis, and Wise
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- The Canadian Business Youth Foundation has invested in more than 10,000 young Canadian
entrepreneurs.(False)
Answer:
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- Virtual companies are so called because they outsource much of their work.
Answer: True
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- In 2005, North American incubators assisted more than 350,000 startup companies
Answer: False
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- The professionalization of the entrepreneurial process, which has developed over the last 20
years, has almost eliminated the need for young entrepreneurs to write business plans themselves.
Answer: False
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- Five percent of American adults report they “invested” in someone else’s venture in the last
three years.
Answer: True
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
- Churning is a main component of a healthy economy.
Answer: True
Learning Objective: 1.2 Outline the causes of the entrepreneurial revolution
Section Reference: Causes of the Entrepreneurial Revolution
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