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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
income statement
B
net profit
C
lease
D
operating expense
2) Someone who organizes and then runs a business
A
entrepreneur
B
family business
C
owner
D
sole proprietor
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
partnership
D
goodwill
5) A legal right to sell a company's goods and services in a particular area.
A
corporation
B
market outlook
C
lease
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
gross profit
C
start-up costs
D
net profit
8) A business, chartered by the state that legally operates apart from the owner(s).
A
franchise
B
entrepreneur
C
corporation
D
sole proprietorship
9) The difference between the costs of goods and their selling price.
A
revenue
B
gross profit
C
start-up costs
D
net profit
10) The expenses involved in going into business.
A
start-up costs
B
revenue
C
gross profit
D
net profit
*select an answer for all questions
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