Compensation and Roles
A non-profit has a ___________ status
What is a Tax-Exempt?
Elizabeth owns a law firm and she recently begun making money. Which business cycle stage is Elizabeth is?
What is the "Success? stage?
Network marketers make their money through __________.
What are "commissions"?
Knowing a process has been tested and works well, companies may want to use _____________ ________ materials.
What is a "Trade Secret?"
Profits are taxed when earned, then shareholder's dividends are taxed after they are distributed. This legal structure is best for INTERNATIONAL business.
What is a "C" Corporation?
There are very strict strict qualifications for becoming an ____ Corporation.
What is an "S" Corporation?
Harry owns a small grocery store. The store has not been receiving a lot of business and has been making a low profit. Which business life cycle stage is Harry in?
What is "Pivot or Persist" stage?
Priscilla opened a restaurant and she sells products that are licensed by someone else. What type of business is Priscilla a part of?
What is a "Franchise?"
Owned and managed by one individual or sometimes a group of individuals with a focus on generating PROFITS.
What is a "small business?"
Allows the owner to pay taxes on their profits or losses through their own taxes using a personal tax rate. This legal structure is idea for a single owner seeking low risk.
What is a "Limited Liability Company (LLC)?"
Jonathan manages the financial matters of a corporation. What role best describes Jonathan's role in the corporation?
What is a "Chief Financial Officer?"
What are the two disadvantages of entrepreneurship?
What is not having a promised paycheck? What is not having enough money to pay employees?
Market size, ___________, manage cash flow, management and passion.
What are "relationships?"
An individual with an idea to offer an innovative product or service.
What is an "Entrepreneur?"
Easy to create, but comes with unlimited liability.
What is a "Sole Proprietorship?"
Susan works at AutoZone and she abides by the safety guidelines to adhere to the company's policies. What role does Susan play in the corporation?
What is an "Employee?"
The seller is required to help the buyer find an idea location for the business. True or False?
What is "True."
When considering the reliability of the management for a business opportunity, what else should one consider?
What is "one's own skillset?"
A business where the owner licenses their operations, products or services, and knowledge for a royalty fee.
What is a "Franchise?"
Shared financial backing.
What is a "Partnership?"
Henry works at a convenience store. He works 40 hours a week at $15 an hour. The company also gives Henry Shares in the company. What two forms of compensation does Henry receive
What are "Equity" and Hourly" pay?
Franchises will generally have higher ________ costs.
What are "start-up" costs?
Carlos is in a band. Which Intellectual Property Law protects the band's song from being stolen?
What is "Copyright"?
A for-profit corporation with a lower tax rate that prevents the company from being double taxed.
What is a "S" Corporation?
Has no ownership and pays NO US taxes.
What is a "Non-Profit?"