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Business review
A good entrepreneur has what qualities?
soil is a fixed cost
Business review
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Questions
26
Answers
1
soil is a fixed cost
True
False
2
A good entrepreneur has what qualities?
understanding material
willing to work long hours
all of the above
follows goverment regulations
3
You should include your name in the offical business name
True
False
4
A greenhouse structure is a variable cost
True
False
5
utility bills are fixed costs
True
False
6
depreciation is the diminish in value over a period of time
False
True
7
What is true about an S corp
S corps Do Not get double taxed
S corps pay company tax on their personal taxes
S corps can only have 100 shareholders
All of the above
8
What are the main parts of a business plan?
All of the above
Marketing concepts, Finance concepts
Business structure
Business operation
9
to be a sucessfull business owner you should have what experiences
2-3 years of working in a similar business
a business partner with work experience and college training
all of the above
2 or more years of formal education (beyond high school)
10
Limited partnerships are where 2 or more people own the business but the business limits the abilities of some partners
False
True
11
houses depreciates over time
False
True
12
A variable cost is a business expense that rises or falls in direct proportion to production volume
False
True
13
What is true about C corps
Pays income tax through the company and personal taxes
Can have as many shareholders as they wish
gets doubled taxed
all the above
14
What is zoning?
Defines what areas are suitable for various functions
all of the above
a zone where a building can be built
a lot of land
15
the clothing your wearing now is an asset
True
False
16
a corporation is owned by a single person
False
True
17
A partnership business is when 2 or more people own a business
True
False
18
an asset is something valuable that can be used to get a loan
False
True
19
A fixed cost are incurred whether or not a crop is produced
False
True
20
What is whole sale production
selling directly to customers
selling online
selling products directly to retailers
none of the above
21
Pots are a variable cost
True
False
22
What is retail production
only selling online
selling directly to the customer
none of the above
selling products in bulk
23
A sole proprietorship is when the business is owned by 2 people
False
True
24
A house is an asset
True
False
25
What is sales revenue
Income generated from sales
Estimated income if every unit is sold
calculation of sales lost
The cost of the product
26
Land depreciates over time
False
True
