EBE final assessment

Question 1

Which personal characteristic of successful entrepreneurs reflects they are curious?

Accepted Answer

Inquisitive

Question 2

Norman & Jones Septic Tank Cleaners are the best septic tank cleaners. How are they classified?

Accepted Answer

Service provider

Question 3

Which is an example of a human resources function for a business?

Accepted Answer

Processing new employees' payroll paperwork

Question 4

Which personal characteristic of successful entrepreneurs reflects they believe in themselves?

Accepted Answer

Self-confident

Question 5

The Starving Artist Society raise funds to support future artist. How are they classified

Accepted Answer

non-profit.

Question 6

How are sole proprietorships and partnerships alike?

Accepted Answer

Owners have complete control of the business.

Question 7

The Gap, Dell, and IBM are all classified as which type of business?

Accepted Answer

For-profit

Question 8

Steven & his bro want to start a plumbing business. What is an advantage of a partnership

Accepted Answer

Partnerships can be started up quickly.

Question 9

What is a difference between consumers and customers?

Accepted Answer

Customers purchase goods and services.

Question 10

Homeless shelters, the March of Dimes, & the Salvation Army are all classified as what?

Accepted Answer

Non-profit

Question 11

Shelters, March of Dimes, & the Salvation Army are all classified as which type of business?

Accepted Answer

Non-profit

Question 12

How is a corporation different from a sole proprietorship or partnership?

Accepted Answer

Corporation requires a legal charter to start.

Question 13

Which characteristic of successful entrepreneurs reflects they'll work until the job is done?

Accepted Answer

Persistent

Question 14

When comparing the 4 main business types, which has the most risk & rewards for an individual?

Accepted Answer

Sole proprietorship

Question 15

Sole proprietorships require a legal charter to start the business.

Accepted Answer

Owners have complete control of the business

Question 16

Barber shops, dry cleaners, and car repair shops are all classified as which type of business?

Accepted Answer

Service provider

Question 17

Which is an example of an accounting function for a business?

Accepted Answer

Preparing a balance sheet

Question 18

Collecting money from customers, paying taxes, & processing payroll checks are classified as:

Accepted Answer

Accounting

Question 19

Which is an example of a marketing function for a business?

Accepted Answer

Preparing a new TV advertising campaign

Question 20

Hiring, firing, and managing the company benefits are classified as what function?

Accepted Answer

Human Resources

Question 21

Promoting, distributing, and pricing products are all classified as which type of function?

Accepted Answer

Marketing

Question 22

Which characteristic of successful entrepreneurs reflects they want to make their own decisions

Accepted Answer

Independent

Question 23

car dealerships, beauty salons, & home improvement stores are classified as what?

Accepted Answer

Combination product and service

Question 24

Which characteristic of successful entrepreneurs reflects he or she develop a plan of action

Accepted Answer

Goal-oriented

Question 25

which has the BIGGEST DISADVANTAGE when it comes to paying taxes

Accepted Answer

Corporation

Question 26

T&C started a website business 2 earn money 4 college expenses. How is the business classified?

Accepted Answer

For-profit

Question 27

Which is an example of an information technology function for a business?

Accepted Answer

Maintaining computers

Question 28

Which is an example of a marketing function for a business?

Accepted Answer

Creating a banner ad for the company website

Question 29

What is an advantage of a partnership over a sole proprietorship?

Accepted Answer

No contracts are necessary to start

Question 30

which type protects owners the MOST from personal financial liability due 2 being sued

Accepted Answer

Corporation

Question 31

What is a difference between wants and needs?

Accepted Answer

Needs are necessary for survival, wants are nice to have.

Question 32

When comparing the 4 business types, which allows the owner to start selling products quickly?

Accepted Answer

Sole proprietorship

Question 33

How is a corporation different from a sole proprietorship and a partnership?

Accepted Answer

Corporations provide limited owner liability.

Question 34

What do wants and needs have in common?

Accepted Answer

Both needs and wants are things people use.

Question 35

Which is an example of a marketing function for a business?

Accepted Answer

Placing products in strategic locations in the stores

Question 36

What is an advantage of a franchise over a sole proprietorship?

Accepted Answer

Parent company provides training and support to franchisee.

Question 37

Plumbing, heating/AC repair, accounting & lawn care are all considered what type of businesses?

Accepted Answer

Service provider

Question 38

Which characteristic of successful entrepreneurs reflects they can solve problems?

Accepted Answer

Creative

Question 39

How are a franchise and a sole proprietorship alike?

Accepted Answer

Easy to start the business

Question 40

Which is an example of an information technology function for a business?

Accepted Answer

Monitoring computer networks

Question 41

Maintaining email accounts, installing software applications, are classified as which function?

Accepted Answer

Information technology

Question 42

Ensuring the company meets goals & work with employees to accomplish goals are classified as:

Accepted Answer

Management

Question 43

Feather Duster Maids Company employs 7 maids to clean houses. How is this business classified?

Accepted Answer

Service provider

Question 44

What does CTE Stand for?

Accepted Answer

Career & Technical Education

Question 45

Which is an example of an accounting function for a business?

Accepted Answer

Preparing a cash flow statement

Question 46

Clothing stores, CD stores, and electronics stores are all classified as which type of business

Accepted Answer

Product type

Question 47

Which is an example of an accounting function for a business?

Accepted Answer

Handling the payments made by customers

Question 48

How is a corporation different from a sole proprietorship?

Accepted Answer

Corporations can sell stock to raise money for the business

Question 49

Which characteristic of successful entrepreneurs reflects they're accountable for their actions

Accepted Answer

Responsible

Question 50

Which is an example of an information technology function for a business?

Accepted Answer

Testing new computer software

EBE final assessment

Questions 50

EBE final assessment

Questions 50