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WorksheetsEntrepreneur - Review
Total questions: 19
Worksheet time: 10mins
Name
Class
Date
1.
What financial statement summarizes a company's assets, liabilities and shareholders' equity at a specific point in time.
a)
start-up listing
b)
equity
c)
balance sheet
d)
revenue
2.
What term describes items of value owned by a business.. Commonly include cash, accounts receivable, notes receivable, inventories, land, buildings, machinery, equipment, and other investments.
a)
assets
b)
liabilities
c)
income statement
d)
expenses
3.
_____________ is the value of a company's assets minus its liabilities.
a)
Revenue
b)
Expenses
c)
Equity
d)
Balance sheet
4.
____________ is the amount of money coming into a business
a)
Customers
b)
Revenues
c)
Asset
d)
Equity
5.
____________ is the amount of money going out of a business
a)
Asset
b)
Revenue
c)
Corporation
d)
Expenses
6.
Data that describe individuals in terms of tastes, opinions, personality traits, and lifestyle habits
a)
Pyschographics
b)
Demographic
c)
Primary
d)
Secondary
7.
Includes information regarding individuals age, marital status, family size, gender, ethnicity, education and income
a)
Primary
b)
Secondary
c)
Demographic
d)
Psychographic
8.
_________________ is a description of the characteristics of a person/business likely to purchase a specific product or service
a)
Customer profile
b)
Corporation
c)
Partnership
d)
Market segment
9.
The individuals or companies that are interested in a particular product or service an are willing and able to pay for it
a)
Target market
b)
Sole proprietor
c)
Equity
d)
Partnership
10.
Dividing up a target market into smaller groups
a)
secondary data
b)
primary data
c)
market segments
d)
demographic data
11.
Simplest type of business to form, one owner
a)
Franchise
b)
Partnership
c)
Corporation
d)
Sole priorietor
12.
Data found in already published sources
a)
Primary data
b)
Secondary data
13.
Information collected for the very first time
a)
Primary data
b)
Secondary
14.
A business owned by a group of people and authorized by the state in which it is located to act as though it were a single person
a)
Sole Proprietor
b)
Partnership
c)
Franchise
d)
Corporation
15.
Two or more owners share the profits and losses of the business
a)
Partnership
b)
Corporation
c)
Franchise
d)
Sole Proprietor
16.
Disadvantages to purchasing this type of business includes extremely high start-up cost and royalty fees
a)
Corporation
b)
Franchise
c)
Partnership
d)
Sole Proprietor
17.
Provides information on a company's strengths, weaknesses, opportunities, and threats
a)
Secondary data
b)
Equity
c)
Corporation
d)
SWOT analysis
18.
People who work for a business
a)
employer
b)
entrepreneur
c)
employee
d)
customer
19.
Individual(s) that own and operate a business
a)
Employee
b)
Entrepreneur
c)
Franchise
d)
Corporation
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