Entrepreneurship and types of businesses!!

Question 1

An entrepreneur follows the baby boomer interests in deciding what type of product to offer...

Accepted Answer

They are identifying population trends

Question 2

Which strategy is NOT typically followed by entrepreneurs?

Accepted Answer

seek ways to restrict market competition

Question 3

Which is a major advantage of the corporate form of business?

Accepted Answer

ownership is easily transferred from one party to another.

Question 4

Which of the following is NOT an advantage that smaller businesses have over larger companies?

Accepted Answer

The ability to raise funds overnight

Question 5

Sole proprietorships have advantages over other forms of business organizations, including

Accepted Answer

neither A nor B

Question 6

Why does Ms. Dupuis think that Dave Thomas of Wendy's is such a cool entrepreneur

Accepted Answer

He finds kids permanent homes

Question 7

Which type of bushiness has the ability to raise monumental funds in a short time?

Accepted Answer

Corporation

Question 8

The following is considered the worst disadvantage for sole proprietorships AND partnerships

Accepted Answer

Unlimited Liability

Question 9

Which type of business has all of the profits going to one owner?

Accepted Answer

Sole Proprietorship

Question 10

Which type of business has the most fragile existence during economic tough times?

Accepted Answer

Sole Proprietorship

Question 11

Why is Michael Dell soooooo rich?

Accepted Answer

He found a new, easy way to sell computers

Question 12

Which type of business gives sole proprietorship SOME limited liability

Accepted Answer

S Corporation

Question 13

Which type of business structure makes up most of the businesses in the country (73%)

Accepted Answer

Sole Proprietorships

Question 14

Which statement best describes an entrepreneur?

Accepted Answer

a person who assumes the risk of introducing new products.

Question 15

Which type of business is subject to "double taxation"?

Accepted Answer

Corporation

Question 16

The biggest disadvantage for a franchise is.......

Accepted Answer

You have to purchase supplies from the parent firm

Question 17

Which type of business is owned by the producers

Accepted Answer

Cooperative

Question 18

Which type of business is the only one to offer "true" limited liability?

Accepted Answer

Corporation

Question 19

Which type of business signifies ownership by buying shares of stock in the company?

Accepted Answer

Corporations

Question 20

What type of business structure has tons of government regulations?

Accepted Answer

Corporation

Question 21

Which type of business offers limited liability to partnerships?

Accepted Answer

LLC's

Question 22

Which type of business ceases to exist when the owner dies?

Accepted Answer

a proprietorship

Question 23

Why do partnerships usually fail?

Accepted Answer

Disagreements between partners

Question 24

Which type of business is the easiest and least costly to organize?

Accepted Answer

Sole Proprietorship

Question 25

Which statement most accurately describes the owners of the General Motors Corporation?

Accepted Answer

the owners of shares of the company's stock

Question 26

Which type of business has unlimited liability?????

Accepted Answer

Partnership

Question 27

Which type of business brings in the most amount of business income?

Accepted Answer

Corporations

Question 28

Which business has unlimited liability

Accepted Answer

Sole Proprietorship

Question 29

Which of the following is one of the disadvantages of corporations

Accepted Answer

stricter government regulations

Question 30

Which type of business needs to be clearly defined to avoid disagreements between owners?

Accepted Answer

Partnership

Question 31

Entrepreneurs play an important role in the economic system of the U.S. because they

Accepted Answer

develop new and more efficient ways to use resources.

Question 32

Which word describes the relationship of stockholders to a corporation

Accepted Answer

owners

Question 33

Which type of business structure is super expensive to organize?

Accepted Answer

Corporation

Entrepreneurship and types of businesses!!

Questions 33

Entrepreneurship and types of businesses!!

Questions 33