Intro to Business Exam 2 Review

Which is NOT an advantage of a small business?

Which type of business formation is responsible for the majority of revenue in the U.S.?

Corporations that do business in other states are called a(n) __________ in the state they are incorporated

Employing _________ often involves using websites to get the help of many investors for a start up business.

The need at the top of Maslow's Hierarchy of Needs is

Good leaders almost always

When two companies combine this is called a

This is a voluntary agreement in which there are two or more co-owners of a business for profit

In a sole proprietorship, the business debts are considered

An advantage of franchising is

Someone who risks their own money and time to hopefully make a profit is called a(n)

This involves establishing performance standards and taking corrective action as needed

A similarity between a corporation and limited liability company is

People might become entrepreneurs because

What type of business formation makes up the majority of businesses in the U.S.?

A sole proprietorship features limited liability

What is an advantage of a general partnership?

You could gain access to an already successful business model as well as management and training resources by

Human skills are a defining trait of

Small business may have opportunities in _____ markets, which are often unoccupied by larger competitors