stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Unit 2- Entrepreneurship Review Flashcards | StudBud
Explore
/
Unit 2- Entrepreneurship Review
Unit 2- Entrepreneurship Review
25 terms
·
StudBud Administration
·
1,097 plays
Imported from external platform
Flashcards
25 cards
F
Practice quiz
P
Host live
L
Questions
25
Answers
1
A business owned by two or more people is called what?
Partnership
Corporation
Sole Proprietorship
Small Business
2
What is a government agency that helps small business owners obtain financing?
Entrepreneur
CIA
Venture Capital
Small Business Administration
3
What is NOT a characteristic of a small business?
More than 500 employees
Owner is manager
Not dominant in field
Serves a small market
4
What is an intermediary who sells the final goods to the consumer called?
Wholesaler
Joint Venture
Retailer
Franchise
5
What is a written description of a new business that includes all major activities?
Marketing Plan
Venture Plan
Business Plan
Business Blueprint
6
Which is NOT a characteristic of an entrepreneur?
Determined
Self-Confident
Risk Taker
Likes Having a Boss
7
What section of the Business Plan mentions the competitive advantage and sales tactics?
Products & Services
Executive Summary
Market Analysis
Strategy & Implementation
8
What are shares of ownership in a corporation called?
Stock
Capital
Venture
Charters
9
A person who takes on risks to start his own business is called what?
Sole Proprietorship
Entrepreneur
Partnership
Corporation
10
What is the section of the Business Plan that mentions potential customers and competition?
Executive Summary
Market Analysis
Company Description
Financial Analysis
11
What is an agreement to open an already established company called?
Retailer
Wholesaler
Franchise
Intermediary
12
Separate legal entity owned by share holders is called what?
Partnership
Sole Proprietorship
Small Business
Corporation
13
Which is NOT true about sole proprietorships?
100% of profits
Difficult to Start
Low Taxes
You are your boss
14
$600,000 in expenses, product costs $80 a piece. How many items sold to break even?
48,000,000
1,333
7,500
4800
15
Amount of money you have left over after you pay expenses is what?
Profit
Presents
Capital
Revenue
16
Who manages a corporation?
Board of directors
Stock holders
The people
Owners
17
What is the section of the Business Plan that mentions the type of ownership and history?
Strategy & Implementation
Executive Summary
Company Description
Product & Services
18
Which one of these guys is NOT an entrepreneur?
Manager at JCPenney
Creator of Uber
Creator of Google
Owner of Gene & Jude's
19
$600,000 in expenses, product costs $80 a piece. How many sold in order to make $10,000 profit?
7,625
6,000
4,720
8,000
20
What is NOT a reason why entrepreneurs fail?
Lack of Money
Unprepared Owner
Competitive Pressure
Too High of Sales
21
What is a license to run a corporation called that you have to get from the state?
Stock
Innovation
License
Charter
22
What is money provided by large investors to finance new products and new businesses?
Innovation
Venture Capital
Entrepreneur
Sole Proprietorship
23
A business owned and run by one person is called what?
Corporation
Sole Proprietorship
Partnership
Small Business
24
The WWF is a business whose main purpose is to provide a service to a cause, what type?
Partnership
Non-profit Organization
Corporation
Sole Proprietorship
25
What section of the Business Plan mentions projected cash flow and break-even analysis?
Executive Summary
Management Summary
Company Description
Financial Analysis
