Business Organization Review

Most small business owners enjoy being part of a team.

Which of the following is NOT one of the reasons small businesses fail?

A retailer is an example of a(n)

Someone who takes a risk in starting a business to earn a profit is called an entrepreneur.

Most businesses are the large corporations.

A written legal document that defines ownership and operating procedures and conditions is called

A business owned by one person is a proprietorship.

A written contract granting permission to operate a business to sell products and services in a set way is a:

Nearly 1 in 10 Americans are involved in some type of entrepreneurship activity.

A separate legal entity formed by documents filed with the state and owned by stockholders is a corporation.

What range of score do you believe you will score tomorrow?

All of the following are characteristics of entrepreneurs except:

All of the following are roles of business in the US except:

A competitive advantage that small businesses have over larger businesses is:

A short, specific written statement of the reason a business exists and what it wants to achieve is called its

On average, small businesses are responsible for creating 60-80 percent of all new jobs.

A written description of the business idea and how it will be carried out, including all business activities is called

A business plan does not have to be written because the business owner is well aware of the information in the plan.

All of the following are pressures on employees in the workforce except:

All investors in a general partnership have full liability for the debts of a business.

Money provided by large investors to finance new products and new businesses are called private loans.

The largest number of U.S. Businesses employ

Our workforce is changing with baby boomers retiring and a shift to a younger workforce.

Every business begins with a(n)

All of the following are good ways to finance a small business except

What type of business carries out activities that are consumed by its customers (ex. dentist)

An invention or creation that is brand new is called a(n)

A government agency that helps small business owners develop business plans is called the

A diagram that shows the structure of an organization, classifications of work and jobs is an organizational chart.

The SBA considers a business small if it employs fewer than ___ employees.