Entrepreneurship Exam Flashcards

Front

What is a key characteristic of an entrepreneurial mindset?

Back

Resilience and persistence

Front

What is considered a personal risk of entrepreneurship?

Back

Social isolation

Front

What distinguishes an entrepreneur from a small business owner?

Back

Scaling and growing a business

Front

How do entrepreneurs typically handle setbacks?

Back

Learn from them and try again

Front

What is a key difference between an entrepreneur and an intrapreneur?

Back

Entrepreneurs take on all the risk.

Front

What is a disadvantage of the E-commerce Venture model?

Back

Intense online competition

Front

Which type of business model involves purchasing the right to operate an existing business model and brand?

Back

Franchising Opportunity

Front

Which business structure is described as "a business owned and run by one individual" and features "unlimited personal liability"?

Back

Sole Proprietorship

Front

Which of the following statements accurately distinguishes between a General Partnership and a Limited Partnership?

Back

In a general partnership, all partners have unlimited liability, whereas a limited partnership has at least one partner with unlimited liability and one or more with limited liability.

Front

Which type of corporation is designed to avoid the double taxation of a C Corporation?

Back

S Corporation