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Entrepreneurship Flashcards | StudBud
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Entrepreneurship
Entrepreneurship
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#businessstructures #distribution #logistics #channelmanagement #government&laws
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Which is not a main function involved in an organization’s operations:
production or procurement
management
sales
finance
2
What are the roles of the Department of Homeland Security?
Product safety
Labeling and safety of food, drugs, & cosmetics
Border protections, disaster recovery, internet safety
Workplace safety
3
Businesses in the public sector:
a. are not associated with government agencies.
a. are only allowed to be identified as for-profit.
a. are only government-funded agencies.
a. cater to the military.
4
A small business is defined as having fewer than _______ employees.
10
1,000
500
100
5
What are the 3 types of partnerships in business structures? (3 answers)
Joint venture
Limited
General
Group
6
What is the most basic type of business structure?
Partnership
Corporation
LLC
Sole proprietorship
7
Nonprofits are identified as businesses which:
avoid showing a profit on which they pay high taxes.
makes a profit to fund its identified cause.
have no expenses.
spend all money brought into the account.
8
A group of establishments primarily engaged in producing or handling the same product(s) is:
a forum
a marketplace
an agora
an industry
9
Business structure suggested for larger, more established companies with lots of employees:
S-corporation
Co-operation
Partnership
C-corporation
10
What are the roles of the Bureau of Consumer Protection?
Regulates free enterprise & unfair/deceptive biz practices
Reduces air & water pollution, waste disposal & recycling.
Enforces trade regulations & protects consumers
Regulates sale of stocks/bonds, mergers & acquisitions
11
A business that sells its products only in its own country is considered a _________ business.
Patriotic
Global
International
Domestic
12
What are the roles of the Federal Trade Commission?
Monitors/ reduces air & water pollution, hazardous waste
Regulate free enterprise & deceptive biz practices
Enforces consumer protection laws & trade regulations
Regulates sale of stocks & bonds, mergers & acquisitions
13
An LLC is a hybrid business structure between a ______________ & a _____________.
C-Corp & Partnership
LLC & Corporation
C-corp & S-corp
Co-op & Sole Proprietorship
14
What are the roles of the Environmental Protection Agency?
Regulates stocks & bonds sales & mergers/acquisitions.
Enforces free enterprise & unfair/deceptive biz practices
Enforces consumer protection laws & trade regulations
Reduce air/water pollution, waste disposal/recycling
15
About _____ of all US businesses are classified as small businesses.
99.7%
half
95%
one-fourth
16
What are the roles of the Occupational Safety & Health Admin?
Workplace safety
Labeling and safety of food, drugs, & cosmetics
Border protections, disaster recovery, internet safety
Product safety
17
What involves buying and reselling goods that have already been produced?
Production
Supply & demand
Procurement
Purchasing
18
A business structure formed to meet a collective need to provide benefits to all owners is:
Co-operation
S-corporation
C-corporation
Partnership
19
What are the roles of the Securities & Exchange Commission?
Protect free enterprise & from unfair/deceptive biz practice
Reduces air/water pollution, reg waste disposal & recycling
Enforces consumer protection laws & trade regulations
Regulates stocks & bonds sale & mergers & acquisitions.
20
Small businesses employ more than ______________ of the private-sector (non govt) workforce.
one-quarter
25%
half
80%
21
SWOT stands for:
Science World of Technology
Strengths, weaknesses, opportunities, threats
Standard work over technology
Supply, warehousing, organization, tracking
22
A C-corporation pays profit tax & then pays dividends to shareholders who pay FIT, is is
Profits and loss
Double taxation
Death by taxes
Debits
23
What reports a company’s assets, liabilities, and owners’s equity?
Income Statement
Cash Flow
Profit & Loss
Balance Sheet
24
Biz that obtains goods/services from manufacturers & resells to users, wholesalers, & retailers
wholesalers
middle men
retailers
producers
25
Biz structure provides limited liability of a corporation + tax cuts & flex of a partnership?
S-corporation
Cooperation
LLC
Sole proprietorship
