ENTREPRENEURSHIP

ENTREPRENEURSHIP

Assessment

Flashcard

University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

20 questions

Show all answers

1.

FLASHCARD QUESTION

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

2.

FLASHCARD QUESTION

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

3.

FLASHCARD QUESTION

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

4.

FLASHCARD QUESTION

Front

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

Back

Internet

5.

FLASHCARD QUESTION

Front

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

Back

i, ii, iii and iv

6.

FLASHCARD QUESTION

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

7.

FLASHCARD QUESTION

Front

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

Back

Partnership

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?