Entreprenurship Final Quiz

Owners of stock in a company

• partnership
• sole proprietorship
• stockholders
• corporation

Starting and owning a person's own business

• corporation
• entrepreneurship
• sole proprietorship
• partnership

The right to sell a company's products in a specified area.

• sole proprietorship
• corporation
• franchise
• retail business

A business that sells products like food, clothing, and cars.

• retail business
• service business
• franchise
• corporation

Entrepreneurs look for business ideas and new and better ways to solve problems.

• True
• False

Property owned by an individual

• Liability

• Asset

• Property

• Net Worth

The value of all assets minus the value of all liabilities.

• Financial obligations

• Assets

• Net Worth

• Property

Debts and financial obligations (responsibilities).

• Liabilities

• Assets

• Negative Net Worth

• Property

Some examples of liabilities are:

• Loans, credit cards, and real property

• Loans, mortgage, and credit cards

• Loans, Art collection, and savings account

• Mortgage, credit card, and real property

Net Worth is equal to:

• Liabilities added to assets

• Assets minus liabilities

• Assets added to liabilities