Entrepreneurship & Legal Business Structure

A person who takes risks and assumes all responsibility for starting a business.

This kind of business does not pay taxes, registers with the government, and provides services

What kind of business is mostly focused on providing a service?

Which of the following is not a reward for becoming an entrepreneur?

Which kind of business makes up the largest percentage of revenue in the US?

A business that is owned by a single person is called ______________________.

Corporations have several disadvantages, which of the following is not one of them?

Having a board of directors, heavy government regulation, and a corporate charter describes:

A new business undertaking that involves risk is called this.

What kind of business is owned by two or more people who share in its risks and rewards

Being easy to start, easier time obtaining capital, and more skills available are advantages to

Which of the following best describes disadvantages to a sole proprietorship?

What kind of business is owned and operated by its members?

Government agency helps small business owners to develop business plans & obtain financing?

What percentage of all businesses are sole proprietorships?

Having a well-known name, uniform appearance, and routine that works are advantages to

What is an important trait to for an entrepreneur to have?

A _______________ is a contract that outlines the rights and responsibilities of each person.