Intro - Unit 2 Review #1

Change raw material into finished products

The most common form of business in the United States is ___.

A business that turns materials into finished goods is called a

The length of an executive summary should be limited to ___.

__________ capital is the money provided by large investors for new businesses.

Which term refers to a new business undertaking that involves risk?

A business organization that is owned and operated by its members is a:

The business plan section that presents research about the company's customer profile is the__.

To raise $ you can sell stocks and you also have a board of directors

This type of business provides things such as hair cutting or lawn care

A producer is a type of business that

Double taxation

Which of the following is NOT a function of business?

Proven idea and brand name

Relies on government grants or donations

Unlimited liability...

Internet businesses are often called ___ businesses.

Contractual agreement to use the name & sell the products of a company in a designated area

Which part of a business plan describes management and tells who will run the firm?

Which is NOT a reward of entrepreneurship?

Need a charter to start this type of business

Which would most likely describe a successful entrepreneur

Moves goods from one business to another...

Who would NOT be considered an entrepreneur?

In a business plan, the size, scope, and type of business is explained in the ___.

Which is usually NOT a characteristic of a small business?

The partner is responsible for only the contribution he/she has made to the partnership

Most businesses in the United States are owned and operated by ___.

Why do people have trouble getting money to start their own businesses?

The business plan section that identifies likely risks to the business is called the ___

What is a corporation?

____ businesses are the principle source of new jobs in the United States.

Low start up costs

A type of business that gathers raw products in their natural state...

When entrepreneurs find new ways to solve old problems they demonstrate their ___.

When corporation’s owners are responsible for no more than the capital they have invested in it

High govt regulation and expensive to organize

All business decisions are the owner's

A business plan must follow ___.

A business can be classified as a "small business" if it has fewer than ___.