MIYB Unit 1

An independent contractor is an example of a corporation.

Shareholders in a corporation are accountable for the investments of every investor.

Profits do not have to be shared between owners in a partnership.

Entrepreneurs have to be willing to take risks.

Which of the following is NOT a benefit of entrepreneurship?

Franchisees are independent businesses, meaning the business has less control over managers.

Which of the following is NOT a characteristic of an entrepreneur?

The owners of this type of business are the shareholders (someone who owns stock).

This type of business is run by two or more people who share ownership of the business.

Sole proprietors have unlimited liability and are legally responsible for all business debts.

A person who starts his/her own business.

Which of the following is NOT a risk of entrepreneurship?

What type of business does the owner own all assets of the business by themselves?

Which of the following is NOT an example of a business organization

It's difficult to drive more than a few blocks in cities without seeing this type of business.