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Entrepreneur 101

Total questions: 25

Worksheet time: 8mins

Name
Class
Date
1.
What is a business owned and operated by one person?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
2.
What is a business owned by stockholders/investors but operated by others?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
3.
What is a business owned and operated by two or more people?
a)
Sole Proprietorship
b)
Partnership
c)
Corporation
4.
What is ONE advantage of a sole proprietorship?
a)
You make ALL the decisions
b)
Easy to raise money
c)
You have to share profits
5.
Which is ONE disadvantage of Sole Proprietorship?
a)
Less direct control
b)
Disagreements
c)
Hard to raise money
6.
What is ONE advantage of a Partnership?
a)
Someone else can help with decisions, etc.
b)
Double taxes
c)
Disagreements
7.
What is ONE disadvantage of a Partnership?
a)
Easier to start
b)
Have to share the profits
c)
Help in making decisions
8.
What is ONE advantage of a Corporation?
a)
Difficult to start
b)
Make all of the decisions
c)
Easy to raise money!
9.
What is ONE disadvantage of a Corporation?
a)
Disagreements
b)
Less direct control
c)
The risk is all on one person
10.

Which of the following is NOT a type of business ownership?

a)

partnership

b)

sole proprietorship

c)

entrepreneurship

d)

franchise

11.

Which of the following is a type of business which operates as a separate legal entity?

a)

corporation

b)

franchise

c)

partnership

d)

sole partnership

12.

___________ are words, symbols, names or devices used to specify the source of the goods, and are used to differentiate them from others.

a)

copyrights

b)

patents

c)

licenses

d)

trademarks

13.

A _______ forms boards to act as governing bodies. It is the most complicated form of business.

a)

franchise

b)

partnership

c)

sole proprietorship

d)

corporation

14.

A _____ is the right or license to sell a company's product or service at a designated location; an example would be McDonalds.

a)

franchise

b)

partnership

c)

sold prprietorship

d)

corporation

15.

Which of the following is the unique name which identifies Internet sites and businesses?

a)

Trademark

b)

Domain name

c)

Patent

d)

Copyright

16.

Which of the following is a grant of intellectual property rights to the inventor?

a)

trademark

b)

domain name

c)

patent

d)

copyright

17.

Words, symbols, names or devices used to specify goods and differentiate one good from another are which of the following?

a)

Trademark

b)

Domain names

c)

Patents

d)

Copyrights

18.

Which of the following are protections provided to authors or original works such as literature?

a)

Trademarks

b)

Domain names

c)

patents

d)

copyrights

19.

Groups of individuals who invest money in various types of companies in search of making a profit are known as which of the following?

a)

investors

b)

capitalists

c)

socialists

d)

investing entrepreneurs

20.

Which of the following is the money raised by a business or investor in exchange for share of ownership of the company?

a)

equity capital

b)

venture capital

c)

deb capital

d)

investment capital

21.

Which of the following is money borrowed from a business or investment which must be repaid over time with interest?

a)

equity capital

b)

venture capital

c)

debt capital

d)

investment capital

22.

Beyonce's official online store offered fans “Formation” inspired merchandise, because she has what on her lyrics?

a)

Copyright

b)

Trademark

c)

Patent

d)

Domain Name

23.

Which of these is a protection for words, names, symbols, sounds, or colors pf a business?

a)

Patent

b)

Copyright

c)

Trademark

d)

Domain Name

24.

Which type of business protects a persons’ personal assets?

a)

Sole Proprietorship

b)

Partnership

c)

Limited Liability Partnership

d)

Corporation

25.

Regular fees paid to the parent company of a product/brand/franchise is called

a)

Royalty Fees

b)

Admin Fees

c)

Copyright Fees