Types of business ownership
A form of business ownership that operates under a charter issue bye the state is called an:
A. Corporation
B. Entrepreneur
C. General partnership
D. Sole proprietorship
A. Corporation
What type of business does not exist to earn revenue but to help others or serve a need in a community?
A. Partnership
B. Non-profit
C. Franchise
D. Corporation
B. Non-profit
What is an Entrepreneur?
A. A person who sets up and runs their own business
B. A person who works in another company
A. A person who sets up and runs their own business
poultry, flowers, fruits, are called allied products of _________ entrepreneur.
A. Retail
B. Agricultural
C. Corporate
D. Trading
B. Agricultural
The process of utilizing resources to create godos and services by assuming risk to satisfy consumers needs is know as:
A. Business
B. Entrepreneur
C. Entrepreneurship
D. Production
C. Entrepreneurship
The American Red Cross is an example of an _________ corporation
A. “S”
B. Nonprofit
C. “C”
D. Hybrid
C. Nonprofit
Which is NOT a function of a business?
A. Human Resources
B. Marketing
C. Employee benefits
D. Accounting
C. Employee benefits
“Gaining Money” is one of the risks of starting a business. True or False?
False
Find the odd one out in context of trading entrepreneur?
A. Buying
B. Selling
C. Manufacturing
D. Commission
C. Manufacturing
A person who identifies business opportunities and utilizes creativity while assuming risks to provide goods and services to prospective customers is an:
A. Producer
B. Supplier
C. Entrepreneur
D. Consumer
C. Entrepreneur
Which of the following is a characteristic of a business-format franchise?
A. Products are bought directly from the supplier
B. Continuous assistance is provided by the franchise
C. It is the least popular franchise arrangement
B. Continuous assistance is provided by the franchise
Which is a reason to NOT start a business?
A. To pay back loans
B. To make a profit
C. Make your own schedule
D. Pursue your dreams
A. To pay back loans
Which of the following is a risk of starting a business?
A. Losing time
B. Gaining profit
C. Having security
A. Losing time
Which of the following entrepreneur is simply imitates existing skill, knowledge or technology already in places in advanced countries?
A. Imitative entrepreneur
B. Innovative entrepreneur
C. Fabian entrepreneur
A. Imitative entrepreneur
Conceptualizing, planning, accessing funds and organizing are examples of:
A. Reasons for starting a business
B. Steps in preparing g a business plan
C. Functions of entrepreneurs
D. Characteristic of entrepreneurs
C. Functions of entrepreneurs
What type of corporation sells millions of shares and must furnish complete information about its earnings, assets, and debts?
A. Private
B. “S”
C. ”C”
D. Limited
C. ”C”
Walmart is an example of a
A. Single owner
B. Corporation
C. Non-profit
D. Partnership
B. Corporation
A ______ ______ is a risk of business as it can lead to less customers, which means less income and profit.
A. Good reputation
B. Commercial risk
C. Change in house prices
D. Poor reputation
D. Poor reputation
Business entrepreneur is called
A. Trading entrepreneur
B. Industrial entrepreneur
C. Solo entrepreneur
D. Agricultural entrepreneur
C. Solo entrepreneur
What is a disadvantage of being an entrepreneur?
A. You have a more flexible schedule
B. It’s easier to request time off
C. You have control over your work
D. You don’t always get a regular paycheck
D. You don’t always get a regular paycheck
A type of business ownership in which one or more of the owners does not have full liability is called a:
A. General partnership
B. Limited partnership
C. Service organization
D. Sole proprietorship
B. Limited partnership
Name the 4 Types of Business
A. Sole proprietorship, this school, non-profit, franchise
B. Franchise, corporation, partnership, sole proprietorship
B. Franchise, corporation, partnership, sole proprietorship
A reward for setting up your own business is
A. Be your own boss, make your own decision and change the business as you want
B. You work for someone else and get a salary and holiday entitlement
A. Be your own boss, make your own decision and change the business as you want
Which of the following entrepreneur who restrict themselves to buying selling and finished goods?
A. Trading entrepreneur
B. Business entrepreneur
C. Industrial entrepreneur
D. Innovative entrepreneur
A. Trading entrepreneur
Which of the following are advantages of opening a new business?
A. The owner has full control over business decisions
B. There is little data about finances
C. The owner can enter a new market
A. The owner has full control over business decisions