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Business & Entrepreneurship - Business Type Flashcards | StudBud
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Business & Entrepreneurship - Business Type
Business & Entrepreneurship - Business Type
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General Questions
Flashcards
20 cards
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Questions
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Answers
1
Davie's Dog Walking Service is a franchise like McDonald's.
True
False
2
A business that is considered separate from its owners is called a
corporation
profit seeking dynasty
franchise
sole proprietorship
3
The activities involved in day-to-day running of a business is
consumer goods
management
a need
operations
4
An example of a corporation would be a law firm.
True
False
5
A contest between businesses to win customers and loyalty is
a strong partnership
operations
marketing
competition
6
Money left after business pays expenses is
considered a good
stock
competition
profit
7
A disadvantage for sole proprietorship is it is difficult to obtain start-up capital.
True
False
8
A tasks that businesses perform and sell to customers, such as haircuts and car washes
wants
services
profit motive
consumer
9
The advantages of a franchise are
franchisee can get guidance in operating the business
All of the Above
franchisee can rely on good name and expertise
easy to start
10
The process of making finished products out of raw materials is
operating
a franchise
profit motive
manufacturing
11
The process of leading and directing an organization
a loyal service
incentives
accounting
management
12
7-Eleven and Dunkin have the same business type in common.
False
True
13
A sole prorpietorship
has one owner
has many silent partners
needs government approval
are very expensive to start
14
A business whose goal is to provide a service rather than make a profit
corporation
non-profit
partnership
sole proprietorship
15
As part of the partnership agreement...
each partner must purchase stocks
partners have the same values
partners don't really care about making money
the agreement must be reorganized if one partner quits
16
The type of business that sells business opportunities to any qualifying person is called...
corporation
sole proprietorship
partnership
franchise
17
What are the characteristics of a corporation?
owned by stakeholders
IBM, Nike
All of the Above
very large
18
Exxon Mobile is characterized as a....
corporation
franchise
beauty salon
sole proprietorship
19
Richardson & Goins Medical Practice is categorized as a _________ business type.
corporation
mini-biz
partnership
sole proprietorship
20
The tangible items that businesses sell are
goods
consumerism
services
chinese food
