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SESSION 16 Quiz: Home Based Business

  1. "Moonlighting" means:
    1. Operating a home based business.
    2. Working hours between 6:00 p.m. and 6:00 a.m.
    3. Operating a business while still employed.
    4. Operating a 24-hour business.

  2. It is a good idea to quit one's job before beginning to plan for a business.
    1. True
    2. False

  3. The greatest risk in operating a business while employed is:
    1. Failure to totally separate the two activities.
    2. Conflict of interest with your job.
    3. Fatigue
    4. All of the above.

  4. It is not a good idea to enlist family members when running a home based business.
    1. True
    2. False

  5. The biggest single mistake made when selecting a home based business is:
    1. Lack of having a "real" place of business.
    2. Zoning problems.
    3. Picking the wrong business to begin with.

  6. Turning a hobby into a home based business should be considered as a possibility.
    1. True
    2. False

  7. Operating a home based business is:
    1. More risky than a conventional business.
    2. Less risky than a conventional business.
    3. Is the same risk as starting a conventional business.

  8. Not having to deal with zoning or licensing requirements is a big advantage of operating a home based business.
    1. True
    2. False

  9. Competing with your employer in a moonlight business is a bad idea because:
    1. You could get fired from your job
    2. It would be a violation of good business ethics.
    3. You would violate the importance of compartmentalizing your business away from your job.
    4. All of the above

  10. Operating a moonlight business which incorporates a well disciplined conflict of interest plan usually has advantages which outweigh the risks of quitting the job before starting the business.
    1. True
    2. False
  

Evaluating the Potential of Business | The Business Plan | Communication Tools | Business Organization | Licenses, Permits, Names | Business Insurance
Location and Leasing | Accounting and Cash Flow | How to Finance Your Business | E-Commerce Business | Buying a Business | Opening and Marketing
Expanding and Problems | International Trade | Managing Employees | Home Based Businesses

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