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Teen Entrepreneur - Introduction Flashcards | StudBud
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Teen Entrepreneur - Introduction
Teen Entrepreneur - Introduction
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Quiz for Project 1 of iAcademy Teen Entrepreneur - Introduction
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
What is an advantage of being a sole proprietor?
You get a lot of free stuff!
The business is usually easy to start.
You control your income and schedule.
You learn self-discipline and time management.
2
What is a business plan?
A picture of the new business office.
A series of documents that serve as a blueprint for building a business.
Projections about income in the first year.
Information about wages.
3
What is your role as the Teen Entrepreneur?
Sell cookies
Choose a teen-based business to own & operate
Complete a series of projects that lead to a business plan.
Get a lot of 'likes' on social media.
4
True/False? An entrepreneur is a person who organizes, operates and assumes the risk for a business venture.
True
False
5
A good business plan is usually....
Completed on Powerpoint.
10 - 100 pages long
1 - 10 pages long
Neat & Organized
6
What is a sole proprietorship?
A business owned and operated by one person.
A business owned by a major corporation.
A business that makes the bottoms of shoes.
A business owned and operated by 3 or more people.
7
What are some disadvantages of being a sole proprietor?
You work long hours!
You are responsible for all of the money owed (debt).
You have to provide all the startup costs.
You are lonely at work.
8
True or False? Katie Branch is a 20 something college graduate about to start a new bakery business.
False
True
9
How much money does Katie Branch need to start her
$25,000.00
$1,000,000.00
$500,000.00
$5000.00
10
True or False? A Social Media Marketing Plan is part of a Business Plan.
True
False
