Entrepreneurship 1 Final Exam_SHHS 2025

Front

Compared to corporations, LLCs generally have fewer formal requirements and reporting obligations.

Back

True

Front

A ________________ is anyone who has an interest in or is affected by a company's operations. This can include employees, customers, suppliers, community members, and even the environment.

Back

stakeholder

Front

A __________________ is an individual or institution that owns shares in a company.

Back

Shareholder

Front

Which of the following statements is true about liabilities?

• They are always beneficial to a company.
• They represent the company's ownership.
• They are obligations that the company must settle.
• They are not important for financial reporting.

Back

They are obligations that the company must settle.

Front

A company that starts printing t-shirts and finds pictures on the internet and uses them to make the t-shirts, can be sued for which type of infringement?

Back

copyright

Front

Which of the following is a non-financial reward of being an entrepreneur?

• job security
• fixed working hours
• personal satisfaction
• high salary

Back

personal satisfaction

Front

What is the primary goal of market segmentation?

Back

to target specific consumer groups effectively

Front

What is a business?

Back

an organization that provides products and services to make money

Front

What is a common method for gathering psychographic data?

Back

conducting surveys

Front

What is a common barrier to creative thinking?

Back

fear of failure