Entrepreneurship Ch. 33

Which of these is NOT an advantage of entrepreneurship?

• Increased self-esteem

• Personal satisfaction

• High Level of Stress

• Increased income

A BLANK is owned and operated by a single person

• LLC

• Corporation

• Sole Proprietorship

• General Partnership

A BLANK is a legal entity created by either a state or federal authority allowing individuals to operate as an enterprise

• Corporation

• LLC

• Sole Proprietorship

• Partnership

Stockholders are owners of a corporation

• True

• False

A legal agreement to sell a parent company's products or services in a designated geographic area

• Sole Proprietorship

• Partnership

• Franchise

• LLC

Means that the personal assets of the owners cannot be taken if the company does not meet its financial obligations or gets into legal trouble

• unlimited liability

• Full coverage

• Limited liability

• Insurance

Each partner shares profits and lossess

• Corporation

• General Partnership

• LLC

• Limited Partner

What is NOT one of the ways to enter a business ?

• Take over a family business

• Purchase a franchise

• Start a new business

• Enter into the black market

Which is the most common form of a business?

• LLC

• General Partnership

• Sole Proprietorship

• Corporation

Which type of business is it easiest to raise capital?

• LLC

• General Partnership

• Sole Proprietorship

• Corporation