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Entrepreneurship - BE
Quiz by Karen Roush
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47 questions
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- Q1What is defined as: The process of starting and operating your own business• Sole ProprietorshipEntrepreneurship• Small BusinessEntrepreneur30s
- Q2What is defined as: People who create, launch, organize, and manage a new business• Business owner• Entrepreneurship• Sole ProprietorEntrepreneur30s
- Q3What is defined as: A business that is owned and operated by one person• Sole Proprietorship• EntrepreneurshipFranchise• Limited Partnership30s
- Q4What is defined as: A legal agreement between two or more people to be jointly responsible for success or failure of business• Partnership• General Partnership• LLC• Limited Partnership30s
- Q5What is defined as: A legal entity created by either a state or federal statute, authorizing individuals to operate an enterprisePartnershipFranchiseCorporationLLC30s
- Q6What is defined as: A hybrid of a partnership and corporationLLCExclusive PartnershipLimited PartnershipPartnership30s
- Q7What is defined as: Each partner shares profits and lossesUnlimited PartnershipPartnershipLimited PartnershipGeneral Partnership30s
- Q8What is defined as: Owners of a corporation and have limited liabilityFranchiseStockholdersEntrepreneursBoard of Directors30s
- Q9What is defined as: When personal assets of the owner cannot be taken it a company doesn't meet financial obligationsGeneral LiabilityLimited PartnershipLimited LiabilityUnlimited liability30s
- Q10What is defined as: A legal agreement to sell a parent company's product or service in a designated areaCorporationLimited PartnerFranchiseStockholder30s
- Q11What is defined as: Owners liability is not limited to investments in the business but can include personal belongings• Personal investment• Unlimited Liability• Limited Liability• Unlimited Partner30s
- Q12What is defined as: Any agreement that is enforceable by lawOfferAgreementContractAcceptance30s
- Q13What is defined as: A proposal made by one party to another stating they are willing to enter into a contractAcceptanceOfferAgreementContract30s
- Q14What is defined as: The agreement of the 2nd party to be held to the terms of the offer*ContractOfferAgreementAcceptance30s
- Q15What is defined as: When the offer and acceptance are truly agreed uponContractAgreementAcceptanceOffer30s