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Worksheets

Business and Entrepreneurship

Total questions: 30

Worksheet time: 15mins

Name
Class
Date
1.

The characteristic of being able to tackle goals with courage and perseverance.

a)

Growth mindset

b)

Grit

c)

inventory

d)

innovation

2.

Believing that one can accomplish anything with

hard work.

a)

Grit

b)

initiative

c)

Growth Mindset

d)

All of the above

3.

A payment amount provided to employees for the number of hours they worked.

a)

Summary

b)

Hourly Pay

c)

Income statement

d)

Liability

4.

A financial statement that details a business's revenue and expenses for a given period

a)

income statement

b)

Non profit

c)

Liability

d)

Operating costs

5.

A creative work or invention to which an individual has been given rights.

a)

Intellectual property

b)

lean canvas

c)

LLC

d)

MVP

6.

Goods a business owns with the purpose of selling.

a)

property

b)

piece work

c)

goods

d)

inventory

7.

A characteristic in which an individual acts to turn ideas into action.

a)

Initiative

b)

risk

c)

sales channel

d)

all of the above

8.

A new idea, product, or method.

a)

none are the correct option

b)

prototype

c)

canvas

d)

innovation

9.

A person or entity willing to provide monetary funds to a business with the hopes of earning a return on their money.

a)

manager

b)

investor

c)

owner

d)

client

10.

A one-page document discussing key information commonly seen in a business plan.

a)

Lean canvas

b)

Your mom

c)

business plan

d)

s corporation

11.

The amount of money owed to an entity

a)

profit

b)

Liability

c)

payment plan

d)

dues

12.

A limited liability company (LLC) is a business with pass-through taxation where owners pay taxes on the company's profit and losses through their personal taxes.

a)

LLC

b)

company

c)

MVP

d)

investor

13.

A form of communication between businesses and customers which relays a message promoting services and/or goods

a)

shipping

b)

marketing

c)

calls

d)

talking

14.

A written plan that outlines a company's marketing strategies.

a)

plan

b)

sheet

c)

marketing plan

d)

bell

15.

A minimum viable product (MVP) is an inexpensive preliminary product to test the product idea.

a)

product

b)

viable

c)

test

d)

MVP

16.

A type of business that has no owner and does not pay federal US taxes.

a)

company

b)

profit

c)

non profit

d)

charity

17.

The expenses incurred for running day-to-day tasks in a business.

a)

fees

b)

operating costs

c)

payments

d)

dues

18.

The way one approaches new ideas and ventures in their life.

a)

idea

b)

opportunity recognition

c)

opportunity

d)

experience

19.

The individuals that own the business.

a)

person

b)

owner

c)

liability

d)

fees

20.

Two or more individuals that share a business's financial responsibility.

a)

group

b)

partners

c)

friend

d)

owner

21.

A legal method used to protect an invention for a limited time.

a)

lawyer

b)

attorney

c)

patent

d)

letter

22.

One's ability to act to work toward achieving a goal

a)

responsibility

b)

patent

c)

chance

d)

personal agency

23.

A type of compensation provided for the amount of work produced.

a)

piece work

b)

salary

c)

payment

d)

money

24.

The amount of money charged for goods or services.

a)

salary

b)

price

c)

payment

d)

dues

25.

First-hand research like surveys, interviews, and statistical data.

a)

data

b)

research

c)

primary data

d)

information

26.

A tangible item

a)

product

b)

draco malfoy

c)

work

d)

market

27.

The amount of financial gain from a business.

a)

price

b)

money

c)

profit

d)

goals

28.

A preliminary product, commonly a product with minimum viability, from which to test and develop.

a)

prototype

b)

work

29.

The number of sales and other income in a business for a given period.

a)

revenue

b)

dues

c)

money

d)

profit

30.

Fees paid for the use of a brand name or image.

a)

queen fees

b)

royalty fees