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Entrepreneurship Counseling Flashcards

7 cards from real CCC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Entrepreneurship Counseling flashcards as text

  1. Which network of centers, often hosted by colleges, offers free one-on-one business consulting and low-cost training to small business owners?

    Answer: Small Business Development Centers (SBDCs)

    SBDCs are SBA-funded partners that give free consulting and training, usually through universities.

  2. A client asks how to calculate the break-even point. Which formula is correct?

    Answer: Fixed costs ÷ (price per unit − variable cost per unit)

    Break-even units equal fixed costs divided by the contribution margin per unit.

  3. A client with a disability wants to become self-employed. Which public program can fund self-employment plans as an employment outcome?

    Answer: State Vocational Rehabilitation services

    State VR agencies can support self-employment as a valid employment goal in an Individualized Plan for Employment.

  4. What is a key tradeoff a counselor should explain to a client who is thinking about buying a franchise instead of starting an independent business?

    Answer: Franchises offer a proven system but limit owner autonomy and require ongoing royalty fees

    Franchising lowers some risk through a proven model, but the owner gives up control and pays royalties.

  5. Before a client signs a franchise agreement, which document must franchisors provide under FTC rules?

    Answer: The Franchise Disclosure Document (FDD)

    The FTC Franchise Rule requires franchisors to give prospective buyers the FDD at least 14 days before signing.

  6. A client keeps postponing the launch, saying the product 'isn't perfect yet.' Which counseling approach best addresses this?

    Answer: Explore fear of failure and introduce the minimum viable product (MVP) concept

    Working through perfectionism and introducing the MVP idea helps clients launch, learn, and improve.

  7. Which statement about self-employment taxes in the U.S. is accurate?

    Answer: Self-employed people pay both the employee and employer shares of Social Security and Medicare taxes

    Self-employment tax covers both halves of FICA, about 15.3% of net earnings up to the Social Security wage base.