WorksheetsENTREPRENEUR BASICS
Total questions: 10
Worksheet time: 5mins
A form of business ownership that operates under a charter issued by the state is called a(n)
Entrepreneur.
Corporation.
The owners of a corporation are known as
Stockholders
Directors.
The American Red Cross is an example of a(n) __________ corporation.
"S" Corporation
Nonprofit
The form of business ownership that can raise money easily is the:
Sole proprietorship.
Corporation.
Partnership.
A major advantage of a sole proprietorship is
Probability of success.
Availability of capital.
Ease of start-up.
Janelle owns a fast-food restaurant that is part of a larger chain of restaurants. She paid an initial fee to the owner of the chain when she opened the restaurant. She also has to pay a royalty fee to the parent company based on a percentage of her profits. Janelle is
Franchisor.
Licensor.
Franchisee.
What type of change is depicted in the following example: Company B combines with Company C to form Company B.
Expansion
Merger
A food processing facility turns raw ingredients into baked goods. This business is considered a
manufacturer.
retailer.
wholesaler.
distributor.
Which of the following is a benefit of opening a franchise:
Franchisors must pay annual royalties.
A working business model is already available.
Franchises have substantial purchasing power.
Which of the following processes helps aspiring entrepreneurs generate venture ideas:
Creative thinking
Decision making
Goal setting
