Entrepreneurship

A business owned by one person is called a(n):

• Club
• Corporation
• Partnership
• Sole Proprietorship

What does limited liability mean?

• A business can only borrow a limited amount of money from a bank.
• The business has a limited number of partners.
• If the business fails, the onwers may lose the money they invested but none of their personal possessions. 

Corporations sell pieces of their business in exchange for money. These pieces of the business are called:

• Slices
• Stock
• Loans
• Partnerships

A business owned by two or more people is called a

• sole proprietorship
• corporation
• partnership
• conglomerate

A business owned by people who have bought shares in it is called a

• corporation
• multinational
• partnership
• sole proprietorship

What is a franchise?

• The right to vote
• A new business started from scratch by an entrepreneur.
• A book or movie series.
• A contract allowing an entrepreneur to open a location of an established business.

What is the governing body of a corporation called?

• Board of Directors
• Board of Governors
• Stockholders

A business is started by a document called a(n):

• Contract
• Constitution
• Charter
• Compact

Where do business usually go for a loan?

• The owner's father
• The government
• An investment bank

When a company first begins selling stock, this is known as its:

• Initial Public Offering
• New York Stock Exchange
• Sale Day
• Opening Bell