Entrepreneurship Final

Question 1

People hired to work for someone else

Accepted Answer

Employees

Question 2

A group of people who meet several times a year to make decisions affecting the company is a:

Accepted Answer

Board of Directors

Question 3

Which is not one of the 4 P's of marketing?

Accepted Answer

Publicity

Question 4

An income statement shows:

Accepted Answer

gross profit, a business's revenue, costs of goods sold, operating expenses

Question 5

which of the following is not a disadvantage of a sole proprietorship?

Accepted Answer

little government restriction

Question 6

What is primary data?

Accepted Answer

Information you can collect specifically for your project

Question 7

Which of the following is not an advantage of a sole proprietorship?

Accepted Answer

paying back money may not be easy

Question 8

A thing for which someone is responsible, especially a debt or financial obligation.

Accepted Answer

Liabilities

Question 9

What is trade area?

Accepted Answer

the area where a business gets the majority of its customers

Question 10

What is a market segment

Accepted Answer

A portion of a market based on shared characteristics

Question 11

You have to face difficult decisions

Accepted Answer

Disadvantage

Question 12

Which is an example of a liability

Accepted Answer

Accounts payable, Wages

Question 13

The list of people who receive a salary in a business

Accepted Answer

payroll

Question 14

What is a transaction?

Accepted Answer

all of the above

Question 15

What is property insurance?

Accepted Answer

financial reimbursement to an owner of a structure

Question 16

Opportunity to make lots of money

Accepted Answer

Advantage

Question 17

Which of the following is not a disadvantage of starting your own business?

Accepted Answer

control over decisions

Question 18

What are the four types of entrepreneurial businesses?

Accepted Answer

Small business, scalable, large company, and social business

Question 19

What is your target market

Accepted Answer

A group of consumers at which a product or service is aimed

Question 20

Which is not an example of an asset?

Accepted Answer

A super cool t shirt

Question 21

A demographic group of people assembled for a guided discussion about a particular product

Accepted Answer

Focus group

Question 22

Net worth is the difference between:

Accepted Answer

assets and liability

Question 23

What is advertising?

Accepted Answer

promoting a business, service or event to a community, hanging up flyer to display an upcoming event

Question 24

What is secondary data

Accepted Answer

A summary including exerts of the U.S. Constitution, Data that was originally collected by someone else

Question 25

An accounting method of allocating the cost of a tangible asset over its useful life.

Accepted Answer

deprecation

Question 26

What kinds of journals are there?

Accepted Answer

all of the above

Question 27

What is compound interest?

Accepted Answer

Additional interest to the sum of a loan or deposit

Question 28

Loans usually aren't needed when starting a business

Accepted Answer

false

Question 29

Taking money from a bank is called:

Accepted Answer

debt capital

Question 30

Which of the following is not an advantage of starting your own business?

Accepted Answer

none of the above

Question 31

What is an aptitude?

Accepted Answer

The ability to learn a particular kind of job

Question 32

Which of the following is not an asset?

Accepted Answer

A 4.0 GPA

Question 33

A business owned by two or people is a sole proprietorship

Accepted Answer

false

Question 34

If you own a business, you have to be the manager

Accepted Answer

False

Question 35

Which is not a benefit of having assets

Accepted Answer

All vacations will be payed off

Question 36

What lets a business know what they have/what they owe?

Accepted Answer

a balance sheet

Question 37

When someone someone invests for a share in a company it is called:

Accepted Answer

equity

Question 38

What is the most popular way to find psychographics and demographics?

Accepted Answer

Conduct a survey

Question 39

What is direct competition

Accepted Answer

When two or more businesses offer products that are the same

Question 40

Which word best describes: responsibility for something, especially by law

Accepted Answer

liability

Question 41

What is an example of indirect competition

Accepted Answer

A friend opens a fruit punch stand in front of your lemonade

Question 42

What is the equation for simple interest?

Accepted Answer

Daily interest rate x number of days between payment

Question 43

All businesses have risks

Accepted Answer

true

Question 44

What is an entrepreneur?

Accepted Answer

A person who owns their own business

Question 45

A sole proprietorship is the most simple business you can operate

Accepted Answer

true

Question 46

What are psychographics?

Accepted Answer

Data according to people's attitudes, aspirations, and more

Question 47

Which of the following is a demographic

Accepted Answer

How old are you?

Question 48

Property owned by a person or company with high value to meet debts, commitments, or legacies.

Accepted Answer

assets

Question 49

What is a corporation?

Accepted Answer

a business

Question 50

What is workers compensation?

Accepted Answer

a type of insurance provided to employees hurt on the job

Entrepreneurship Final

Questions 50

Entrepreneurship Final

Questions 50