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Entrepreneurship
Test Description: Practice test
Instructions: Answer all questions to get your test result.
1) Someone who runs his or her own business
A
Director of the Board
B
Partner
C
Entrepreneur
D
Manager
2) Being ___________________ means not working for someone else; owning and operating one’s own business
A
stock owner
B
chairman of the board
C
Partner
D
self-employed
3) A form of business organization in which one person owns the business.
A
Franchise
B
Proprietorship
C
Partnership
D
Corperation
4) A form of business organization in which two or more persons co-own the business
A
Stock Holders
B
Partnership
C
Franchise
D
Proprietorship
5) A form of business organization in which stockholders own the business.
A
Self-Employed
B
Corporation
C
Parntership
D
Proprietorship
6) One of these are NOT an advantage of being self-employed
A
Legacy
B
Quick Decisions
C
Flexible schedule
D
Income Varies
7) One of these are NOT a disadvantage of being self-employed
A
Long Hours
B
Record Keeping
C
Goal Oriented
D
Competition
8) _______________ are the persons or companies to which money is due
A
Creditors
B
Bookies
C
Loan Sharks
D
Bill Collectors
9) One of these answers are NOT qualities of Successful business owners
A
Money
B
Confident
C
Know-how
D
Personality
10) a federal agency that encourages, assists, and protects the interests of small business.
A
FBI
B
SBI
C
FEMA
D
SBA
11) One of the biggest determining factors on whether a business will succeed or fail
A
who you know
B
right time - right place
C
all of these are vital to success
D
desire to success
12) A contract with a company to sell its goods and services within a certain area
A
Franchise
B
Liscense
C
Stock Shares
D
Corperation
13) An entrepreneur must have enough _________________ to start a business
A
Supply
B
Time
C
Energy
D
Capital
14) The money needed to start a business is called:
A
Seed Money
B
Investment
C
Capital
D
Start up Money
15) The Chinese army's only way to success was to:
A
Retreat
B
Burn the Boats
C
Give up and hope something good happens
D
Bring in re-inforcements
16) A very important legal part of running a business is:
A
Have enough money
B
Know the civil laws
C
Know the corporate laws
D
Know your clients
17) A GREAT business starts with :
A
a friends idea
B
money
C
a great idea
D
extra time on your hands
18) The motto of a very successful fried chicken franchise
A
do one thing, and do it well
B
there is no plan B
C
finger licking good
D
this ain't your mamma's house
19) The owner of Canes worked on a Salmon Boat in Alaska so he could
A
get stronger
B
learn to cook fish
C
make new connections
D
raise capital
20) To raise capital some business share parts of their company to the public - this is called:
A
having a garage sale
B
selling stock
C
partnerships
D
finding angel investors
*select an answer for all questions
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