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Chapter 5 And 6 Review
Test Description: Entreprenuership and Business Organization
Instructions: Answer all questions to get your test result.
1) The revenue you make after paying all the costs of producing a product is called?
A
capital
B
gain
C
profit
D
loss
2) How does a corporation earn money?
A
offer services
B
apply for loans
C
trade goods
D
sell stock
3) Ocean Spray is an example of an
A
cooperative
B
franchise
C
corporation
D
non-profit
4) The job of an intermediary is to
A
trash goods
B
distribute goods
C
gather goods
D
inspect goods
5) An example of a virtual business is
A
Sears
B
Walmart
C
Ebay
D
Home Depot
6) The purpose of a nonprofit organization is to?
A
lose money
B
gain customers
C
provide a service
D
make money
7) Who is held responsible for decisions in a corporation?
A
The owner
B
stockholders
C
Board of Directors
D
The president
8) What does the term SBA stand for?
A
Short Business Association
B
Smart Business Administration
C
Small Business Association
D
Small Business Administration
9) What is the main reason entrepreneurships fail?
A
Money
B
Bad marketing
C
No business plan
D
Customers
10) Which of the following is true about small businesses?
A
All of the above
B
Generates more than half of the nation's income
C
Employs more than 50% of the total work force in the US
D
Has fewer than 500 employees
*select an answer for all questions
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