PFLE Unit 9 Review

Front

What do entrepreneurs do to begin their business venture?

Back

Identify market needs and develop solutions

Front

An individual who undertakes the risk associated with creating, organizing, and owning a business is? Options: a farmer, a trained salesperson, an entrepreneur, Mathematician

Back

an entrepreneur

Front

Do entrepreneurs have to find their own health insurance and plan for retirement?

Back

True

Front

Entrepreneurs do not pay taxes to the IRS.

Back

False

Front

This is the simplest form of business organization and has a single owner.

Back

Sole Proprietorship

Front

This type of business organization involves two or more individuals who agree to contribute resources to the business in return for a share of the profit.

Back

Partnership

Front

The legal obligation to pay any debts of the business.

Back

Liabilty

Front

A business that is organized as a proprietorship, but the debts are limited to the assets of the business.

Back

Limited Liability Corporation

Front

What do entrepreneurs do to begin their businesses?

Back

Identify market needs and develop solutions

Front

A separate legal entity with an existence that is owned by investors called stockholders or shareholders.

Back

Corporation