
Entrepreneurship Concepts
Quiz
•
Business
•
9th Grade
•
Practice Problem
•
Easy
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The first step in starting a business is usually
Conducting market research
Developing a business idea
Creating a marketing plan
Securing funding
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This form of business ownership allows partners to have the right to participate in management and have limited liability for company debts.
LLP (Limited Liability Partnership)
Sole Proprietorship
General Partnership
Corporation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A privately owned and operated enterprise, typically with a small number of employees
Small business
Large corporation
Non-profit organization
Franchise
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The form of business ownership in which a business is considered a legal entity that is separate from its owners is called:
A partnership
A sole proprietorship
A corporation
A limited liability company
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This type of business ownership offers both limited liability to its owners and flexible tax treatment, allowing owners to decide if they want their business taxed as a corporation or partnership.
Sole Proprietorship
Corporation
LLC (Limited Liability Company)
Partnership
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The three main forms of business ownership are:
Corporation, partnership, and sole proprietorship
Limited liability company, corporation, and partnership
Sole proprietorship, cooperative, and franchise
Partnership, corporation, and joint venture
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After starting his business, Zachary created a document to describe his business concept, objectives, strategies, and timelines for achieving those objectives. What is this document called?
Business model
Business strategy
Business plan
Business proposal
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