Business Ownership Quiz

What name is given to a business that is owned and controlled by one person?

• Partnership

• LTD

• PJK

• Sole proprietor

An entrepreneur is

• someone looking to travel to France

• someone who owns or starts a business

• someone who rates businesses based on their profits

• Mr. Rovello's brother

Which of these is NOT a characteristic of an entrepreneur?

• Creative

• Determined

• Risk Averse

• Risk Taker

Profit can be calculated using:

• Revenue - Expenses

• Revenue + Expenses

• Expenses - Revenue

• Expenses + Revenue

Integrity and ethical behavior is extremely important when running a business. True or False?

• True

• False

Which of these is NOT a skill of an entrepreneur?

• Creativity

• Interpersonal Skills

• Organization

• Sleeping

One benefit of being an entrepreneur is having your own independence. True or False?

• True

• False

A business does not need to worry about continually improving the value it creates for consumers and society. True or False?

• True

• False

Rivalry among businesses to sell their goods and services is called

• Advantage

• Seller's market

• Direct marketing

• Competition

True or False? A Corporation has many owners but when the owners change, the company does not dissolve.

• True

• False