WorksheetsFBLA Entrepreneurship
Total questions: 24
Worksheet time: 12mins
Name
Class
Date
1.
American Enterprise Day was established by:
a)
Ronald Reagan on Nov. 15, 1985
b)
Jimmy Carter on Oct. 3, 1980
c)
George Bush on Oct. 3, 1980
d)
Bill Clinton on Nov 15, 1980
2.
Which of the following are available for small businesses to help them start their business?
a)
grants
b)
loans
c)
venture capital
d)
all of these
3.
What organization offers a tool for entrepreneurs to use to help them determine the licenses and permits they need to establish their business?
a)
Small Business Administration
b)
Entrepreneurship Administration
c)
Small Business Association
d)
Entrepreneurship Association
4.
Which of the following is NOT included in a business description?
a)
explanation of how products & services will meet customer needs
b)
list of consumers and organizations the company will serve
c)
company slogan
d)
competitive advantages
5.
When planning your business, what is one of the first steps you should take?
a)
determine your financing
b)
determine your location
c)
determine your target audience
d)
determine your employee policies
6.
Which part of the business plan deals with historical data regarding the company's performance?
a)
Market analysis
b)
Funding request
c)
Executive summary
d)
Financial projection
7.
The part of the business plan that covers product information and life cycle.
a)
Executive summary
b)
Service or product line
c)
Organization and management
d)
Market analysis
8.
The part of the business plan that includes ownership information, job descriptions and job titles.
a)
Executive summary
b)
Market analysis
c)
Organization and management
d)
Product or service line
9.
What is the appendix of the business plan for?
a)
Give job titles and ownership information
b)
Display supporting documents
c)
Give market analysis
d)
Ask for funding
10.
Which of the following IS an advantage of entrepreneurship?
a)
Be your own boss
b)
Risky activity
c)
Set schedule
d)
Uncertain income
11.
Which of the following should you NOT include in your business plan?
a)
Market analysis
b)
Company information
c)
Personal information
d)
Goals & objectives of the business
12.
What types of business opportunities are there for business owners?
a)
Public sector only
b)
Private sector only
c)
Multiple areas including both private and public sector
d)
None of these
13.
What is a document that lists the values, ethics, objectives and responsibilities of a business?
a)
Value code
b)
Company policies
c)
Code of ethics
d)
Code of responsibilities
14.
Which of the following should a company provide for their employees?
a)
Ethical training
b)
A college education
c)
Executive training
d)
Financial analysis education
15.
Moral principles that guide a person's behavior or conduct.
a)
Ethics
b)
Rules
c)
Laws
d)
Policies
16.
The FBLA Entrepreneurship competition includes:
a)
An objective test
b)
A case study
c)
A presentation
d)
Both an objective test and a case study
17.
Which of the following characteristics is important for entrepreneurs?
a)
Team player
b)
Anti-social
c)
Difficult to get along with
d)
Passive
18.
Which of the following do franchise owners need to be concerned with?
a)
Having support by large corporation
b)
Risks of failure
c)
Name recognition
d)
Set policies
19.
What levels are available for FBLA competition in entrepreneurship?
a)
State & National
b)
National
c)
Local, region, state and national
d)
Local and state
20.
What types of business opportunities are available for entrepreneurs?
a)
Small business only
b)
Local business only
c)
Regional business only
d)
Local, region, state, national and global businesses
21.
What does an entrepreneur do?
a)
Run a small business
b)
Start a business
c)
Start, run and grow a business
d)
Have a business idea
22.
How often should you refer to and/or revise your business plan?
a)
At least once a year
b)
Never, once it is written it shouldn't change
c)
Every day
d)
Once every 5 years
23.
What is one of the main purposes of writing a business plan?
a)
To secure financing for the business
b)
To let employees know what they are supposed to do
c)
To set the rules for the business
d)
To have for reference
24.
When should you write a business plan?
a)
After the business has been established and is doing well
b)
Before trying to find financing
c)
After the business has been going at least a year
d)
After you get financing
100 %
