Entrepreneurship Question Preview (ID: 22330)


Practice Test. TEACHERS: click here for quick copy question ID numbers.

Someone who runs his or her own business
a) Partner
b) Director of the Board
c) Entrepreneur
d) Manager

Being ___________________ means not working for someone else; owning and operating one’s own business
a) self-employed
b) chairman of the board
c) stock owner
d) Partner

A form of business organization in which one person owns the business.
a) Partnership
b) Proprietorship
c) Franchise
d) Corperation

A form of business organization in which two or more persons co-own the business
a) Stock Holders
b) Franchise
c) Proprietorship
d) Partnership

A form of business organization in which stockholders own the business.
a) Corporation
b) Proprietorship
c) Parntership
d) Self-Employed

One of these are NOT an advantage of being self-employed
a) Flexible schedule
b) Quick Decisions
c) Income Varies
d) Legacy

One of these are NOT a disadvantage of being self-employed
a) Goal Oriented
b) Long Hours
c) Competition
d) Record Keeping

_______________ are the persons or companies to which money is due
a) Bill Collectors
b) Creditors
c) Loan Sharks
d) Bookies

One of these answers are NOT qualities of Successful business owners
a) Know-how
b) Money
c) Personality
d) Confident

a federal agency that encourages, assists, and protects the interests of small business.
a) SBA
b) FBI
c) SBI
d) FEMA

One of the biggest determining factors on whether a business will succeed or fail
a) desire to success
b) who you know
c) right time - right place
d) all of these are vital to success

A contract with a company to sell its goods and services within a certain area
a) Corperation
b) Franchise
c) Stock Shares
d) Liscense

An entrepreneur must have enough _________________ to start a business
a) Capital
b) Energy
c) Supply
d) Time

The money needed to start a business is called:
a) Investment
b) Capital
c) Seed Money
d) Start up Money

The Chinese army's only way to success was to:
a) Bring in re-inforcements
b) Burn the Boats
c) Retreat
d) Give up and hope something good happens

A very important legal part of running a business is:
a) Know your clients
b) Know the corporate laws
c) Know the civil laws
d) Have enough money

A GREAT business starts with :
a) a great idea
b) money
c) extra time on your hands
d) a friends idea

The motto of a very successful fried chicken franchise
a) finger licking good
b) do one thing, and do it well
c) there is no plan B
d) this ain't your mamma's house

The owner of Canes worked on a Salmon Boat in Alaska so he could
a) get stronger
b) raise capital
c) make new connections
d) learn to cook fish

To raise capital some business share parts of their company to the public - this is called:
a) partnerships
b) selling stock
c) finding angel investors
d) having a garage sale

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