B21C Unit 4 Test Review - Business Ownership

A _____ details the roles multiple owners have and how the profits and losses will be divided.

To compete, Small business can provide a superior customer-focused service or quality.

A small business is an independent business with fewer than ______ employees.

_________ is money coming into the business from the sale of goods and services to customers.

If you are the owner of a(n) ___________ there is no protection for your personal assets.

a government agency that helps small business owners

Asking an expert to review your plan is the first step when developing a business plan.

All of the following are reasons why a small business will fail EXCEPT

____________ are the business form that receive the largest portion of revenue in the U.S.

An entrepreneur must ______________.

_____________ is money provided by large investors to finance new products and businesses.

Entrepreneurs should have all of the following EXCEPT.

A good example of an entrepreneur is a(n)_________.

True or False: small businesses are responsible for most new employment.

SBA states over _% of small businesses fail the 1st year and _% fail within the first 5 years.

A written contract granting permission to operate a business using their brand is a___________.

Coca-Cola competes indirectly with Pepsi in the smartphone market.

The form of ownership most common among U.S. businesses is___________.

Nonprofit organizations are required to pay corporate income taxes.

Small businesses are responsible for most new employment in the United States.