ENTREPRENEURSHIP

Front

Identify a successful sole proprietor must exhibit all of the following except: Leadership skills, Be fully responsible for the firm’s performance, Be willing to work 40 hours per week, Organization skills

Back

Be willing to work 40 hours per week

Front

Identify disadvantages of a partnership except:
- Decision making must be shared among partners
- General partners are subject to unlimited liability
- Profits are shared among partners
- Multiple partners bring additional funds to the business

Back

Multiple partners bring additional funds to the business

Front

Select disadvantages of a sole proprietorship i. Easy to set up ii. Not regarded as a separate legal entity iii. More responsibilities iv. Owner keeps all the profit v. Liability is unlimited

Back

ii, iii and iv

Front

Identify secondary sources in entrepreneurial ideas and opportunities except: Reliable existing data, References, Mass media and electronic media, Internet

Back

Internet

Front

Select type of business i. Sole Proprietorship ii. Partnership iii. Private Limited Company iv. Public Limited Company.

Back

i, ii, iii and iv

Front

Identify entrepreneurship support facilities: i. Financial ii. Management Training and Entrepreneurship iii. Advertising iv. Technology v. Location and business space

Back

Financial, Management Training and Entrepreneurship, Technology, Location and business space

Front

What type of business do most entrepreneurs start? Options: Partnership, Corporation, Sole Proprietorship, Private limited company

Back

Partnership

Front

Describe an entrepreneur

Back

An entrepreneur must know all parts of business: finance, marketing, etc

Front

Recognize an entrepreneur must be

Back

Organized

Front

Identify creative thinking technique except: Personnel, Brainstorming, The six thinking hats, Business process re-engineering

Back

Personnel