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Entrepreneurship Chapter 7

Authored by Jayne Gibbs

Life Skills

9th - 12th Grade

Used 37+ times

Entrepreneurship Chapter 7
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60 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Before you buy a business, you should request a written list of all suppliers

True

False

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Even though entering a family business can give entrepreneurs a sense of pride and satisfaction, they usually do not enjoy working with relatives.

True

False

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A disadvantage of buying an existing business is that banks are less likely to lend to a new owner.

True

False

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

In most family-owned businesses, the family members are able to keep business problems from affecting their private lives.

True

False

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Many entrepreneurs do not have enough money to purchase an existing business.

True

False

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The initial franchise fee, start-up costs, and royalty fees have to be paid only the first year of operation.

True

False

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The start-up costs for a franchise include renting a facility and purchasing inventory.

True

False

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