Worksheets9 Steps for Starting a Small Business
Total questions: 22
Worksheet time: 8mins
An entrepreneur has 3 investors that have contributed money towards the start of his business. This type of funding is known as ___.
credit
capital
liabilities
expenses
If you complete the 9 steps for starting your small business, you are guaranteed to have a successful and profitable business.
true
false
An entrepreneur has proposed his business plan to a bank with the intention to receive a loan to start his business. This type of funding is known as ____.
capital
credit
liabilities
expenses
Which method of funding will develop with mentors and advisers who are supportive?
credit
capital
liabilities
expenses
Money that is used to start a business can be obtained by
capital
debt
equity
credit
all of the above
Method used when aspiring entrepreneurs quickly and clearly explain their differentiating vision to encourage potential investors to learn more about their business.
business meeting
business plan
financial statement
elevator pitch
Another term for capital is ____.
debt
credit
equity
all of the above
Which method of funding will have more support for the business to succeed?
credit
capital
liabilites
expenses
Another term for credit is ____.
debt
capital
equity
all of the above
A detailed to do list of steps you’ll need to take to go from concept and funding all the way to business launch.
geaux biz portal
credit
capital
launch plan
It is necessary to provide specific tasks that need to be completed in order to register the company through Geaux Biz.
true
false
As an entrepreneur that is starting a business, it is necessary to have all permits and licenses before registering on Geaux Biz.
true
false
As long as financial records are maintained, it is not important for them to be recorded electronically or written documentation.
true
false
Another term or meaning of an invoice is:
bank account
payment check
equity
bill or charge
Managing payroll involves:
monitoring credit
ensuring bills are paid
paying employees for their time worked
all of the above
A necessary service to protect a business from closing due to an unplanned and costly accident or event is ____.
insurance
launch plan
capital
accounting system
Insurance for a business should be purchased:
before a business opens
after a business opens
either of the above options is acceptable
The annual cost for insurance is called
invoice
premium
launch plan
deductible
The amount paid before the insurance company reimburses you for a claim is called,
deductible
premium
invoice
launch plan
The front glass window for your store is damaged, and it will cost $2,500 for the repairs. You must pay $1,000 before the insurance company pays the rest. The amount that you paid is known as the ___.
capital
equity
deductible
premium
It costs $7,250 per year for your company's insurance policy. This amount reflects the insurance policy's ____.
deductible
capital
equity
premium
If you want to lower your premium, then you must:
increase the insurance coverage
increase the amount of the deductible
decrease the amount of the deductible
