Entrepreneurship Most Missed Questions 2

Question 1

In a general partnership, all partners have unlimited liability.

Accepted Answer

True

Question 2

A sole proprietorship is the simplest and least expensive option for business ownership.

Accepted Answer

true

Question 3

The primary motivation for becoming an entrepreneur is to make money.

Accepted Answer

fasle

Question 4

Wholesalers are also known as middlemen or distributors.

Accepted Answer

true

Question 5

By donating money to a nonprofit organization, an entrepreneur demonstrates

Accepted Answer

philanthropy

Question 6

The level of liability for a business owner depends on the type of ownership structure.

Accepted Answer

true

Question 7

A manufacturing business buys goods in large quantities and then resells them to retailers.

Accepted Answer

false

Question 8

What is the first step an entrepreneur would take to research a potential business opportunity?

Accepted Answer

identifying research objectives

Question 9

Instead of seeing opportunities, a successful entrepreneur usually sees problems.

Accepted Answer

false

Question 10

A sole proprietorship has limited liability for any business debt.

Accepted Answer

False

Question 11

Secondary data includes information gathered by the U.S. federal and state governments.

Accepted Answer

True

Question 12

A skill is an ability that you can learn through training and practice.

Accepted Answer

True

Question 13

Business owners w/ limited liability only risk the money specifically invested in the business.

Accepted Answer

true

Question 14

Manufacturing businesses are predicted to dominate the United States economy in the future.

Accepted Answer

False

Question 15

Wholesalers sell directly to consumers.

Accepted Answer

false

Question 16

Thinking like an entrepreneur can help you become a more valued employee.

Accepted Answer

true

Question 17

Facts about consumers that relate to their beliefs, lifestyle, and personal preferences are

Accepted Answer

psychographics

Question 18

Demographics include age, marital status, and education.

Accepted Answer

True

Question 19

Psychographics group market segments by where they live.

Accepted Answer

False

Question 20

Competitive intelligence refers to

Accepted Answer

the data collected about competitive businesses

Question 21

In the US, fewer than half of the entrepreneurs have some college education.

Accepted Answer

fasle

Question 22

Employees typically work longer hours than entrepreneurs.

Accepted Answer

false

Questions 22