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Entrepreneurship Flashcards | StudBud
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Entrepreneurship
Entrepreneurship
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154 plays
#businessstructures #distribution #logistics #channelmanagement #government&laws
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
A group of establishments primarily engaged in producing or handling the same product(s) is:
an industry
a forum
a marketplace
an agora
2
What are the roles of the Department of Homeland Security?
Labeling and safety of food, drugs, & cosmetics
Workplace safety
Product safety
Border protections, disaster recovery, internet safety
3
What are the 3 types of partnerships in business structures? (3 answers)
General
Joint venture
Limited
Group
4
Biz structure provides limited liability of a corporation + tax cuts & flex of a partnership?
Cooperation
S-corporation
Sole proprietorship
LLC
5
Nonprofits are identified as businesses which:
spend all money brought into the account.
makes a profit to fund its identified cause.
avoid showing a profit on which they pay high taxes.
have no expenses.
6
What is the most basic type of business structure?
Partnership
Sole proprietorship
Corporation
LLC
7
What are the roles of the Securities & Exchange Commission?
Enforces consumer protection laws & trade regulations
Reduces air/water pollution, reg waste disposal & recycling
Regulates stocks & bonds sale & mergers & acquisitions.
Protect free enterprise & from unfair/deceptive biz practice
8
About _____ of all US businesses are classified as small businesses.
one-fourth
half
95%
99.7%
9
SWOT stands for:
Science World of Technology
Supply, warehousing, organization, tracking
Standard work over technology
Strengths, weaknesses, opportunities, threats
10
What are the roles of the Federal Trade Commission?
Monitors/ reduces air & water pollution, hazardous waste
Regulate free enterprise & deceptive biz practices
Enforces consumer protection laws & trade regulations
Regulates sale of stocks & bonds, mergers & acquisitions
11
What are the roles of the Bureau of Consumer Protection?
Regulates sale of stocks/bonds, mergers & acquisitions
Enforces trade regulations & protects consumers
Reduces air & water pollution, waste disposal & recycling.
Regulates free enterprise & unfair/deceptive biz practices
12
Businesses in the public sector:
a. are only allowed to be identified as for-profit.
a. are not associated with government agencies.
a. are only government-funded agencies.
a. cater to the military.
13
A business structure formed to meet a collective need to provide benefits to all owners is:
S-corporation
C-corporation
Co-operation
Partnership
14
What are the roles of the Environmental Protection Agency?
Enforces free enterprise & unfair/deceptive biz practices
Reduce air/water pollution, waste disposal/recycling
Enforces consumer protection laws & trade regulations
Regulates stocks & bonds sales & mergers/acquisitions.
15
Biz that obtains goods/services from manufacturers & resells to users, wholesalers, & retailers
producers
wholesalers
retailers
middle men
16
Which is not a main function involved in an organization’s operations:
management
production or procurement
finance
sales
17
A small business is defined as having fewer than _______ employees.
1,000
500
100
10
18
What involves buying and reselling goods that have already been produced?
Production
Procurement
Purchasing
Supply & demand
19
A C-corporation pays profit tax & then pays dividends to shareholders who pay FIT, is is
Debits
Death by taxes
Profits and loss
Double taxation
20
A business that sells its products only in its own country is considered a _________ business.
Domestic
Global
Patriotic
International
21
What reports a company’s assets, liabilities, and owners’s equity?
Balance Sheet
Income Statement
Profit & Loss
Cash Flow
22
Business structure suggested for larger, more established companies with lots of employees:
S-corporation
C-corporation
Co-operation
Partnership
23
An LLC is a hybrid business structure between a ______________ & a _____________.
C-Corp & Partnership
C-corp & S-corp
LLC & Corporation
Co-op & Sole Proprietorship
24
Small businesses employ more than ______________ of the private-sector (non govt) workforce.
80%
25%
one-quarter
half
25
What are the roles of the Occupational Safety & Health Admin?
Labeling and safety of food, drugs, & cosmetics
Border protections, disaster recovery, internet safety
Product safety
Workplace safety
