This business type carries out activities that are consumed by its customers.
What is a service business?
100
This form of business ownership is the easiest to start and end.
What is a proprietorship?
100
Money provided by large investors to finance new products or businesses is called ___________
What is venture capital?
100
True or False: a small business is an independent business with less than 500 employees.
What is true.
100
True or false: a small business can provide the special needs and wants of a customer better than a larger business.
What is true.
200
This business type is involved in selling goods and services to consumers and other businesses.
What is an intermediary?
200
This form of business ownership can get tricky if one person doesn't agree with the decisions of another.
What is a partnership?
200
A person who takes on the risk of starting a new business is called a __________________
What is an entrepreneur?
200
This document is a written description of the business idea and how it will be carried out.
What is a business plan?
200
Where do business ideas come from?
a) hobbies and interests
b) venture capitalists
c) past experiences
d) both a & b
What is d) both hobbies and interests & past experiences.
300
This business type creates products and services that are used by individuals and other businesses. Examples include extractors, farmers, and manufacturers.
What is a producer?
300
This form of business ownership is a separate legal entity from the individual who owns it.
What is a corporation?
300
True or False: Entrepreneurs are over 18 years old.
What is false.
300
This type of financing is used to pay for buildings and large equipment that will continue for many years.
a) start-up financing
b) short-term financing
c) long-term financing
d) inventory financing
What is c) long-term financing?
300
The direction for a business comes from the
a) mission statement
b) code of ethics
c) corporate bylaws
d) policy manual
What is a) mission statement
400
This business type is growing the fastest in the U.S. economy.
What is service businesses?
400
Which form(s) of business ownership has the least amount of tax advantages?
a) proprietorship
b) partnership
c) corporation
d) proprietorship & partnership
What is c) corporation
400
True or false: An improvement is an invention or creation that is brand new.
What is false
400
This type of financing would pay for cash registers for a new clothing store.
a) start-up financing
b) short-term financing
c) long-term financing
d) inventory financing
What is a) start-up financing.
400
These are descriptions of the way work is to be done
a) policies
b) organization chart
c) goals
d) procedures
What is d) procedures
500
Hobby Lobby is an example of which type of business?
a) producer
b) extractor
c) intermediary
d) service
What is c) intermediary.
500
The decisions of a corporation are made by the ___________
a) board of directors
b) articles of incorporation
c) corporate bylaws
d) partnership agreement
What is the a) board of directors?
500
True or false: Anyone is capable of being an entrepreneur.
What is false
500
This type of financing is needed to pay for current activities of a business.
a) start-up financing
b) short-term financing
c) long-term financing
d) inventory financing
What is c) short-term financing
500
The obligation to complete specific work is
a) responsibility
b) authority
c) accountability
d) recognition