Entrepreneurship and Small Business #1

Front

What is Entrepreneurship?

Back

Setting up a business with the aim to make a profit

Front

True or False: With owners of equity in a business, all of the stakeholder owns equity.

Back

False

Front

Would the following business be classified as B2B or B2C? Wholesale Flooring Distributor

Back

B2B

Front

Would the following business be classified as B2B or B2C? Chain of Local Grocery Stores

Back

B2C

Front

Would the following business be classified as B2B or B2C? Motorcycle repair shop

Back

B2C

Front

Which legal structure should you set up for your business? Options: Sole Proprietorship, C-Corporations, Limited Liability Company (LLC), S-Corporation

Back

S-Corporation

Front

True or False: With owners of equity in a business, founders own equity.

Back

True

Front

True or False: With owners of equity in a business, a partner owns equity.

Back

True

Front

True or False: With owners of equity in a business, contractors own equity.

Back

False

Front

An example of ________ compensation is paying field laborers for the amount of fruit they pick.

Back

Piece work