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