Entrepreneurship for Small Business Exam Practice

Entrepreneurship for Small Business Exam Practice

12th Grade

10 Qs

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Entrepreneurship for Small Business Exam Practice

Entrepreneurship for Small Business Exam Practice

Assessment

Quiz

Business

12th Grade

Medium

Created by

KELLI SMIRNIOTIS

Used 9+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the different types of small businesses?

Sole proprietorship, partnership, and friendship

LLC, LTD, and LOL

Sole proprietorship, partnership, LLC, corporation, and cooperative.

Corporation, cooperation, and competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the importance of business planning and strategy?

All of the above

Only strategy is important

Only business planning is important

None of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a key component of business planning?

Hiring employees

Creating a budget

Marketing the product

Setting goals and objectives

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of production in a small business?

To provide employment opportunities

To create goods or services for sale

To generate revenue for the government

To fulfill legal requirements

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of distribution in a small business?

Designing the company logo

Getting the products or services to the customers

Creating marketing campaigns

Managing employee schedules

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a service-based small business?

Coffee shop

Construction company

Hair salon

Bookstore

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in developing a business plan?

Finding investors

Identifying the purpose and goals of the business.

Choosing a business name

Hiring employees

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