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Licensing represents opportunities for: A) expanding into new markets. B) reaching more customers in existing target markets. C) an entrepreneur to profit with less risk and costly start-up investment. D) an entrepreneur to gain access to others' copyrights, trademarks and patents. {Ans: C) an entrepreneur to profit with less risk and costly start-up investment.}Personal, face-to-face, surveys are the most effective and most expensive. -True -False {Ans: True}Profit from the business will be included on the balance sheet in the assets section. -True -False {Ans: False}If the new venture is not a manufacturing operation, but a retail store or service, a new section of the business plan is required which is called the: A) organizational plan B) operational plan C) production plan D) executive summary {Ans: A) organization plan}S corporation status means: A) shareholders do not have limited liability. B) the corporation is subject to a minimum tax of 34 percent. C) consent by a majority of shareholders is required for the election of this form of business. D) the corporation pays no tax. {Ans: C) consent by a majority of shareholders is required for the election of this form of business.}_____ is the volume of