Types of Businesses
Dale Earnhardt starts a business where his personal assets are protected, but he wants a simple structure.
A. Sole Proprietorship
B. Partnership
C. LLC
D. Franchise
C. LLC
A manager uses past sales numbers to predict future demand.
A. Qualitative data
B. Quantitative data
C. Marketing strategy
D. Branding
A. Qualitative data
A brand partners with influencers to promote products.
A. Influencer marketing
B. Marketing
C. Budgeting
D. Forecasting
B. Marketing
A business predicts future sales revenue.
A. Operating expense
B. Sales forecast
C. Tariff
D. Partnership
B. Sales forecast
A company sells products online to customers worldwide.
A. Tariff
B. E-commerce
C. Partnership
D. Outsourcing
B. E-commerce
John runs a lawn care business alone and is personally responsible for all debts.
A. Corporation
B. Sole Proprietorship
C. LLC
D. Partnership
B. Sole Proprietorship
A company collects customer opinions through surveys.
A. Quantitative data
B. Financial data
C. Qualitative data
D. Sales forecast
C. Qualitative data
A store offers “buy one, get one free.”
A. Branding
B. Sales promotion
C. Outsourcing
D. Tariff
B. Sales promotion
A company tracks rent, wages, and utilities.
A. Revenue
B. Profit
C. Operating expenses
D. Assets
C. Operating expenses
The government adds a tax on imported goods.
A. Subsidy
B. Tariff
C. Budget
D. Profit
B. Tariff
A company sells shares to the public to raise money.
A. Partnership
B. Sole Proprietorship
C. Corporation
D. LLC
C. Corporation
A business compares profits over time to find patterns.
A. Branding
B. Trend analysis
C. Promotion
D. Budgeting
B. Trend analysis
Ads are shown based on user interests online.
A. Traditional marketing
B. Accounting
C. Production
D. Targeted marketing
D. Targeted marketing
A business plans how to spend its money.
A. Budgeting
B. Market
C. Branding
D. Importing
A. Budgeting
A company manufactures products in another country to save money.
A. Branding
B. Budgeting
C. Outsourcing
D. Promotion
C. Outsourcing
Two friends open a business and share profits and liabilities.
A. Corporation
B. Partnership
C. LLC
D. Franchise
B. Partnership
A company uses graphs to understand performance.
A. Data visualization
B. Pricing strategy
C. Forecasting
D. Outsourcing
A. Data visualization
A company builds a recognizable logo and image.
A. Branding
B. Forecasting
C. Budgeting
D. Importing
A. Branding
A company spends more than it earns and adjusts its plan.
A. Profit increase
B. Budget control
C. Sales promotion
D. Outsourcing
B. Budget control
A business must deal with different currencies when selling internationally.
A. Domestic trade
B. Partnership
C. Sales promotion
D. Currency exchange risk
D. Currency exchange risk
A business wants limited liability and the ability to sell shares.
A. Sole Proprietorship
B. Partnership
C. Corporation
D. Nonprofit
C. Corporation
A manager reviews reports to find why sales dropped.
A. Advertising
B. Data investigation
C. Branding
D. Franchising
B. Data investigation
A business lowers prices to compete.
A. Skimming
B. Competitive pricing
C. Tariff
D. Trend analysis
B. Competitive pricing
A business reviews financial reports to improve performance.
A. Financial analysis
B. Marketing strategy
C. Branding
D. Franchising
A. Financial analysis
A company adapts its products to fit another country’s culture.
A. Standardization
B. Global marketing adaptation
C. Budgeting
D. Forecasting
B. Global marketing adaptation