Careers - Entrepreneurs Question Preview (ID: 7066)

Ch4 Entre.[print questions]

A summary of your business's income and expenses during a specific period.
a) net profit
b) income statement
c) operating expense
d) lease

Someone who organizes and then runs a business
a) entrepreneur
b) sole proprietor
c) family business
d) owner

The potential for future sales
a) franchise
b) revenue
c) market outlook
d) gross profit

The loyalty of existing customers
a) goodwill
b) partnership
c) corporation
d) franchise

A legal right to sell a company's goods and services in a particular area.
a) lease
b) corporation
c) market outlook
d) franchise

The business is completely owned by one person.
a) corporation
b) sole proprietorship
c) franchise
d) partnership

The amount left after operating expenses are subtracted from the gross profit.
a) gross profit
b) revenue
c) net profit
d) start-up costs

A business, chartered by the state that legally operates apart from the owner(s).
a) franchise
b) entrepreneur
c) corporation
d) sole proprietorship

The difference between the costs of goods and their selling price.
a) gross profit
b) net profit
c) revenue
d) start-up costs

The expenses involved in going into business.
a) gross profit
b) start-up costs
c) revenue
d) net profit

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