Business Concepts and Entrepreneurship Test 1

Front

Which corporation uses a double layer of taxation?

Back

C-Corp

Front

You need to create a legal structure for your small business. You have plans for it to grow and hope in the future to sell shares to the public. Your startup partners are citizens of Mexico and Japan. You do not want to be personally responsible for business liabilities. Which legal structure should you set up for your business?

Back

C-Corp

Front

A business selling to another business is called

Back

B2B (Business to Business)

Front

The FOUR P’s of the marketing mix are

Back

product, price, place, and promotion

Front

Data that provides information about a customer’s age, gender, or ethnicity.

Back

Demographic

Front

The four segments of sales data are

Back

behavioral, geographical, demographic, and psychographic

Front

An owner of one or more shares of a corporation

Back

Stockholder

Front

may issue shares to up to 100 shareholders, all of whom must be actual people (not corporations) who are US citizens or permanent residents.

Back

S-Corp

Front

A legal entity that offers limited liability with double taxation but is least restrictive in regard to issuing stocks.

Back

C-Corp

Front

CEO

Back

The Chief Executive Officer holds a leadership role within a business. Oversees a business's operations and resources and makes the major decisions for the company.