PFL Review 4.23-4.24

PFL Review 4.23-4.24

Assessment

Flashcard

Social Studies

11th Grade

Hard

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40 questions

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1.

FLASHCARD QUESTION

Front

What is the primary role of an entrepreneur in business creation?

Back

Creating innovative business solutions and opportunities

2.

FLASHCARD QUESTION

Front

Which factor best describes how entrepreneurs primarily earn income?

Back

Through business profits and ownership returns

3.

FLASHCARD QUESTION

Front

When comparing self-employment to traditional employment, which statement is most accurate? Self-employed individuals always earn more than employees, Employees have more tax obligations than self-employed individuals, Self-employed individuals must handle their own benefits and tax obligations, Traditional employment offers more flexibility than self-employment

Back

Self-employed individuals must handle their own benefits and tax obligations

4.

FLASHCARD QUESTION

Front

Which federal agency provides support for small business creation?

Back

Small Business Administration (SBA)

5.

FLASHCARD QUESTION

Front

What is a key characteristic of a sole proprietorship?

Back

Complete personal liability for business debts

6.

FLASHCARD QUESTION

Front

Which business structure typically requires the most complex regulatory compliance? Options: Sole proprietorship, Partnership, Corporation, Independent contractor

Back

Corporation

7.

FLASHCARD QUESTION

Front

What is a primary advantage of purchasing a franchise?

Back

Lower initial investment costs

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