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Careers - Entrepreneurs
Test Description: Ch4 entre.
Instructions: Answer all questions to get your test result.
1) A summary of your business's income and expenses during a specific period.
A
operating expense
B
income statement
C
lease
D
net profit
2) Someone who organizes and then runs a business
A
sole proprietor
B
entrepreneur
C
owner
D
family business
3) The potential for future sales
A
gross profit
B
market outlook
C
franchise
D
revenue
4) The loyalty of existing customers
A
franchise
B
corporation
C
goodwill
D
partnership
5) A legal right to sell a company's goods and services in a particular area.
A
lease
B
market outlook
C
corporation
D
franchise
6) The business is completely owned by one person.
A
partnership
B
franchise
C
corporation
D
sole proprietorship
7) The amount left after operating expenses are subtracted from the gross profit.
A
revenue
B
start-up costs
C
net profit
D
gross profit
8) A business, chartered by the state that legally operates apart from the owner(s).
A
entrepreneur
B
corporation
C
franchise
D
sole proprietorship
9) The difference between the costs of goods and their selling price.
A
net profit
B
gross profit
C
start-up costs
D
revenue
10) The expenses involved in going into business.
A
net profit
B
start-up costs
C
gross profit
D
revenue
*select an answer for all questions
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