1. True entrepreneurs:
a. assume less-than-total personal risk for the success or failure of the business.
b. are professional managers whose job is running someone else’s business.
c. hire professional managers to run their businesses.
d. undergo the process of planning and operating a business venture.
2. Which of the following statements is true of minorities in small businesses?
a. There has been an increase in the number of African American–owned businesses.
b. There has been a substantial increase in the number of businesses owned by American Indians.
c. There has been a decrease in business ownership among Pacific Islanders.
d. There has been a decrease in Latino-owned businesses.