Question

the belief that you have to come up with something no one has ever done before to build a successful business is

wrong.
absolutely true.
the secret to success.
what every entrepreneur knows.

question 18 (5 points)
lamar is researching a business opportunity and has asked his acquisition team to help him review and verify all of the information about the business. this process of research and verification is called

trust and verify.
due diligence.
truth and consequences.
due assessment.

question 19 (5 points)
entrepreneurs can make money on fads, but they have to know

when to get in and out in order to make a lot of money.
where the fad originated.
how to market the item once the fad has run its course.
how to manufacture the product themselves.

Explanation:

Analyze the first question on business creation myths

The belief that a successful business requires a completely unique, never-before-done idea is a common misconception. Many successful businesses improve upon existing ideas, execute better, or target different markets, making this belief wrong.

Analyze Question 18 on business acquisition research

The comprehensive process of investigating, reviewing, and verifying all financial, legal, and operational information about a business opportunity before acquisition is formally known as due diligence.

Analyze Question 19 on fads and entrepreneurship

Fads are highly temporary market trends with short lifespans. To profit from them, entrepreneurs must have precise timing, knowing exactly when to enter the market and when to exit before demand collapses.

Answer:

Question 1

• (A) wrong. (Correct answer)
• (B) absolutely true.
• (C) the secret to success.
• (D) what every entrepreneur knows.

Question 18

• (A) trust and verify.
• (B) due diligence. (Correct answer)
• (C) truth and consequences.
• (D) due assessment.

Question 19

• (A) when to get in and out in order to make a lot of money. (Correct answer)
• (B) where the fad originated.
• (C) how to market the item once the fad has run its course.
• (D) how to manufacture the product themselves.