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ENTREPRENEURSHIP

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.
Starting and owning a person's own business
a)
corporation
b)
entrepreneurship
c)
sole proprietorship
d)
partnership
2.
Entrepreneurs look for business ideas and new and better ways to solve problems.
a)
True
b)
False
3.
Some people become entrepreneurs by turning part-time work experiences into full-time businesses.
a)
True 
b)
False
4.
Entrepreneurs want to be their own bosses, set their own working hours, and make their own decisions.
a)
True
b)
False
5.
Working capital is money needed to start a business.
a)
True
b)
False
6.
When setting the prices of goods or services, business owners must consider the prices charged by competitors.
a)
True
b)
False
7.
Not planning for business expenses is one of the biggest mistakes entrepreneurs make.
a)
True
b)
False
8.
What is an entrepreneur?
a)
A person who is in charge of a specific location.
b)
A person who works for someone else in order to learn skills.
c)
A person who organizes and operates a business or businesses.
d)
None of these
9.
Which is NOT a common characteristic of an entrepreneur?
a)
risk-taker
b)
creative
c)
organized
d)
irresponsible
10.
Most entrepreneurs work long hours, but they create their own schedule.
a)
True
b)
False
11.

How do MANY people become millionaires?

a)

They save aggressively, avoid debt, and invest their money.

b)

They win the lottery.

c)

The inherit it from family.

d)

They avoid the stock market.

12.

Which is a characteristic of a successful entrepreneur?

a)

Motivated

b)

Takes very little risk

c)

Passionate

d)

Hard-working

13.

Entrepreneurs create ____________________ for themselves and others.

a)

wealth

b)

risk

c)

plans

d)

none of these

14.

What is the purpose of a business plan? (hint: choose 2 correct answers)

a)

To document your financial activity during one year

b)

Legal document to be filed with the SEC

c)

States the purpose and vision of your company

d)

States the amount of capital you need to run the company

15.
The act of assuming the risk of organizing productive resources to produce goods and services.
a)
business
b)
critical thinking
c)
entrepreneurship
d)
risk management
16.
An individual who undertakes the risk associated with creating, organizing, and owning a business
a)
Entrepreneurship
b)
Entrepreneur
c)
Venture
d)
Mission Statement
17.

Which of the following incident/s are notifiable?

a)

Collapse of a structure

b)

Dangerous goods

c)

Explosives

d)

Fire

18.

Failing to report a notifiable incident is an offence and penalties apply?

a)

Yes

b)

No

19.

What type of a report is it if you report details of an unusual event in a company?

a)

Analytical report

b)

Periodic report

c)

Incident report

d)

Yardstick report

20.

If a worker is injured, what is the first step of the incident response?

a)

Get the manager and report it

b)

Find the WHS duty holder and report it

c)

Anyone should begin First Aid

d)

Find the First Aid Duty Holder