Chap 4, 6, 11 and 15 Concepts Quiz

The internal and external analysis completed by businesses as a part of planning is often referred to as

• PERT

• SWOT

• ACE

• KISS

Select all that apply: Some elements of a business plan are

• marketing plan

• financials

• Legal form of ownership

• description of products and/or services

A lawn mowing business is an example of a(n)

• service business

• industrial business

• manufacturing buisness

• marketing business

Which of the following is not offered to a franchisee by a franchisor?

• help in finding a location for the business

• operating procedures and policies

• a guaranteed minimum profit

• the use of the company's name and trademark

The difference between income and costs is

• finance

• start-up costs

• revenue

• profit

A __ allows an inventor the sole right for 20 years to make, use, and sell an invention or a process.

• patent

• copyright

• trademark

• license

Two of the three ways that local governments regulate businesses are:

• zoning

• applications

• licensing

• SCORE

Which form of business ownership provides the greatest protection of the owner's personal assets in case of business failure?

• partnership

• corporation

• sole proprietorship

• LCC

Created a computer program to help landscape lawns

• patent

• copyright

• trademark

Designed a bird-calling device to attract most types of songbirds

• patent

• copyright

• trademark