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Business & Entrepreneurship - Business Type Flashcards | StudBud
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Business & Entrepreneurship - Business Type
Business & Entrepreneurship - Business Type
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General Questions
Flashcards
20 cards
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Questions
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Answers
1
The advantages of a franchise are
All of the Above
franchisee can rely on good name and expertise
easy to start
franchisee can get guidance in operating the business
2
The process of leading and directing an organization
a loyal service
accounting
management
incentives
3
The tangible items that businesses sell are
services
consumerism
goods
chinese food
4
What are the characteristics of a corporation?
IBM, Nike
very large
All of the Above
owned by stakeholders
5
Exxon Mobile is characterized as a....
sole proprietorship
beauty salon
franchise
corporation
6
Davie's Dog Walking Service is a franchise like McDonald's.
True
False
7
Richardson & Goins Medical Practice is categorized as a _________ business type.
corporation
partnership
sole proprietorship
mini-biz
8
A contest between businesses to win customers and loyalty is
marketing
operations
a strong partnership
competition
9
The activities involved in day-to-day running of a business is
a need
operations
management
consumer goods
10
A sole prorpietorship
has one owner
needs government approval
are very expensive to start
has many silent partners
11
A tasks that businesses perform and sell to customers, such as haircuts and car washes
services
consumer
wants
profit motive
12
As part of the partnership agreement...
the agreement must be reorganized if one partner quits
partners don't really care about making money
partners have the same values
each partner must purchase stocks
13
7-Eleven and Dunkin have the same business type in common.
True
False
14
A business that is considered separate from its owners is called a
corporation
sole proprietorship
profit seeking dynasty
franchise
15
A business whose goal is to provide a service rather than make a profit
corporation
sole proprietorship
non-profit
partnership
16
Money left after business pays expenses is
considered a good
stock
competition
profit
17
An example of a corporation would be a law firm.
True
False
18
The process of making finished products out of raw materials is
manufacturing
profit motive
operating
a franchise
19
A disadvantage for sole proprietorship is it is difficult to obtain start-up capital.
True
False
20
The type of business that sells business opportunities to any qualifying person is called...
corporation
sole proprietorship
partnership
franchise
