Study Guide Entrepreneurship

Wholesalers usually sell directly to the consumers

A large number of small businesses sell similar products at different prices.

______ are 16 groups of occupational and career specialties.

Completing a ____ can help you understand your personal preferences.

How a market is organized, based on the number of businesses competing for sales in an industry

To find a company's debt ratio, divide its total liabilities by its total assets

Small Businesses employ _____ percent of all high-tech workers.

Ability to create a plan and engage others to follow it

The behavioral and emotional characteristics that make each person unique are learned skills.

The income statement shows the financial strength of a business.

A small number of large companies selling same or similar products.

for tax purposes, businesses use a year as the fiscal period, also called a fiscal year

A group discussion where individuals generate as many ideas as possible is ____

A group of businesses that provide a particular product or service is referred to as a _____

Personal and business financial records muse be kept sepearte

Which of the following is part of the entrepreneurial discovery process?

Newly created businesses are often called____

Accounts payable are considered assets of the company

Ability to support team members and grow the business.

An ability that a person has learned over time and can do well is an aptitude.

Social Media knowledge, software skills, and systems skills are examples of which skill sets?

When creating a career plan, the first step in the decision-making process is to_____

The accounting equation of assets=liabilities+owner's equity is necessary for recording finance

For which of the following problems is brainstorming NOT a useful tool?

Natural, Human, and capital resources are all _____

Few successful entrepreneurs are natural leaders.

Which of the following is NOT a step in the decision-making process?

Behavioral and emotional characteristic are ____ that make each person unique.

The government determines what goods are produced, how much is produced, and the prices.

The local chamber of commerce is a good source o information for small businesses

Entrepreneurship in involves taking on the responsibility and risks of starting a new business.

Which of the following is NOT included in the definition of a small business.

A process that can be used to create well-defined goals is_____process

A feasibility analysis is done a few months after a new business has started

Accounts payable are an example of _____

The five P's of entrepreneurship are_____

which type of special journal is used to record sales on account transactions?

A person who starts a new business is referred to as an entrepreneur.

Which of the following economies is found primarily in countries with mostly rural populations

A large number of small businesses selling identical products for the same prices.

Which of the following is NOT a method to generate business ideas?

Communication and listening skills

Which of the following skills are NOT foundation skills necessary for success in any career

A list of steps on a time line to reach each of your career goals is a ____

The Small Business Administration is a _____ resource to hep small businesses succeed.

Private owned businesses operate to make a profit with limited government regulation.

Which of the following is NOT an activity involved stating a new business?

System in which citizens have just enough to survive

The company's assets, liabilities, and owner's equity are reported on the _____

Also known as the profit and loss statement

Both government and the private sector make decisions about providing goods and services.

Negotiation Skills and the ability to take charge and keep thins running smoothly.

There are many ways to research your career interest, including searching the internet and etc.

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The entrepreneurial discovery process is about finding a need for a product or service

Transferring information from journals to the ledger is called_____

Which of the following is not needed for accurate tax reporting?

The "SMART" in the SMART goal setting process stands for______.

Financial ratios provide can identify which areas of a business are strong and improvement

Financial statements for private companies are shared with all of the following except _____

The natural ability to learn something new is a____.

A ____ is someone who influences others in a positive way and makes things different or better.

Which of the following is NOT typically provided by a franchiser?

The last steps n the decision-making process is to ____.

A intrapreneur is a person who works for a company to create new products that benefit_____.

Cash sales are the only daily business transactions that impact the business

One business has complete control of a market's entire supply of goods or services.

Self-management, integrity, and honesty are examples of ____ qualities that are needed...

Which of the following actions can help prevent a new business from failing?

Record-keeping, business letter-writing, and math skills.

A goal does not have to be achieved during a specfied time period.

Math Skills are among the ____ skills an entrepreneur needs.

Buildings, manufacturing equipment, and inventory are examples of _____

To be effective, goals must be practical, or ____, enough to be achievable.

Scarcity occurs when supply is higher than demand.

An accountant completing your tax return is an example of which of the following?

Which of the following is NOT one of the five personality traits for entrepreneurs?

The science of examining how goods and services are produced, sold, and used.

Career pathways are subgroups within the career clusters.

The method of distributing the cost of assets over the life of the assets that can be recorded

Industrial and consumer goods are both manufactured products

Buying an existing business is one of the ways to become and entrepreneur

Asset and expense account types have debit balances; debits would decrease the balance side

A critical issue for most entrepreneurs is the ability to raise start-up capital.

Financial statements are used for tax purposes

In a command economy, the government determines what goods are produced and assets the prices