Marketing Essentials Chapter 33 Quiz

Identifies the name & address of a new corporation, its purpose and the amount of stock issued

The process of starting and operating your own business is...

This form of business ownership is subject to the least taxation and government regulation

Someone who creates, launches, organizes, and manages a new business.

Which is a disadvantage of entrepreneurship?

An investment in which the owners ' personal assets cannot be taken if a company goes under

When an owner’s liability can go beyond what is invested in the business to personal funds

Why is an entrepreneur important to the economy?

Which is an advantage of being an entrepreneur?

A legal agreement to sell a parent company’s product or services in a designated area.

Hybrid of a partnership and corporation. Owners are protected from personal liability

A form of business owned and operated by one person who funds, manages and gets profits

What is the most common form of business?

The registration in which a county government recognizes the existence of a new SP or Part.

An owner of a public corporation with limited liability.

Which of these is NOT an example of being an entrepreneur?

Registration which county government recognizes that a new proprietorship/partnership exists.

Which is not a characteristic of purchasing a franchise?

A form of business considered its own legal entity and owned by stockholders

Which is not a way to become a business owner?

A person that purchases a franchise has complete control over advertising and running it

What are the four legal forms of business organization?

Two or more people jointly responsible for the success or failure of a company.

Number of all new businesses that fail within the first 2-3 years of operation

What type of business has the greatest disadvantage if an owner dies?

Which of the following is not a skill or characteristic of an Entrepreneur?