1 st semester Entrepreneurship

What is entrepreneurship?

• setting up a business with aim to make profit and assuming risk

• working for oneself in a trade or business as an independent contractor

• produce the products they sell

• selling products or services over the internet

Which of the following is NOT an advantage of entrepreneurship?

• They are their bosses

• They must make all decisions by themselves

• They can make lots of money

• They can choose a business that interest them

What are the characteristics of successful entrepreneurs?

• Independent, self-confident, determined, creative, act quickly

• flexible, Independent, self-confident, creative, act quickly

• self-confident, flexible, creative, simple-minded

What is Corporation- C corp?

• One or more people, owners are not personally liable, corporate tax, protects owners from personal liability

• Allow profits and losses, to be passed through directly to owners personal income without ever being subject to corporate tax rates

• A for-profit corporation recognized by a majority of US states. Have both mission and profit

What are the 7 elements of a business plan?

• History & background, goals & objectives, products or services, form of ownership, marketing, current and projected financial statements, management & staffing

• Business plan, history & background, target market, products or services, form of corporation, data & statements, staffing & employment

What type of business writing style is step-by-step, user handbooks & manuals, training material etc.?

• Informational

• persuasive

• Transactional

• Instructional

what type of business style is used for sending emails, dismissal notices(termination & resignation), form & invoices, letters of recommendation, and ?

• Persuasive,

• Instructional

• Transactional

• Informational

What business style is used in presenting facts and provides insights like financial reports, analysis, and white papers?

• informational

• persuasive

• instructional

• transactional

What business style convinces readers by announcements, sponsored social media posts, and marketing newsletters?

• informational

• persuasive

• instructional

• transactional

what are the three levels of managements?

• Supervisory, middle level, top level management

• low level, middle class level, top level management

• first level, top level management, supervisory