Business 101 Entrepreneurship

Which are the most common form of business ownership in the US?

What is limited liability?

A franchisee doesn't maintain day to day operations or receive profit from the business.

The easiest business organization to form is a

This form of business ownership is composed of 2 or more people

Which is NOT an advantage of entrepreneurship?

Which business has the least personal liability?

The quality of being honest and having strong moral principles is which entrepreneurial trail

Once an entrepreneur selects a form of ownership, he/she has to have that structure forever.

Which business organization has its own legal identity in eyes of law?

Which is not a "4 P's of marketing"?

Continuing to exist or enduring over a prolonged period of time is what entrepreneurial trait

An entrepreneur can expect to earn large profits immediately after starting a business.

Entrepreneurs can fail even if they are committed.

Which of the following is a reason that a franchise is an advantage?

JCPenny's Payless Shoes, Barnes & Nobel are examples of

Bill Gates (founder of Microsoft) displayed this entrepreneurial characteristic

A company that produces their goods in a factory is called what

An advantage of this form of business ownership is combined knowledge, skills, and labor

Which is NOT a characteristic of an entrepreneur?

An entrepreneur owns, operates, and takes risk of a business venture.

A farm, retail establishment, and home based business are examples of

McDonald's, Burger King, and Wendy's are all

One advantage of a corporation over a sole proprietorship is

Corporations generate the largest amount of revenue of the 3 forms of bus. ownership in the US

What is the main reason why many entrepreneurs fail?