wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Entrepreneurship Unit 1 Test

Total questions: 31

Worksheet time: 16mins

Name
Class
Date
1.

The basic principles that govern a business's actions are

a)

social responsibility

b)

Foreign Cultures

c)

Codes of Ethics

d)

Business Ethics

2.

Most industries have specific

a)

Behavior

b)

Respect

c)

Public Image

d)

Laws

3.

            Ethics begins with important ethical principles like ____.

a)

Rules

b)

Taxes

c)

Laws

d)

Altruistic

4.

Business ethics are not the same thing as business ____.

a)

Business Ethics

b)

Code of Ethics

c)

Stakeholders

d)

Rules of Codes

5.

Doing something unethical and doing something illegal may result in different ____.

a)

Suspension

b)

Jail Time

c)

consequences

d)

Bankruptcy

6.

Businesses should behave ethically because of their ____.

a)

foreign culture

b)

respect

c)

workers

d)

social responsibility

7.

Which is NOT a type of ownership?

a)

Corporation

b)

Sole Proprietorship

c)

Altruistic

d)

Partnership

8.

Businesses must fulfill obligations to ____.

a)

Altruistic

b)

Business Ethics

c)

customers

d)

stakeholders

9.

Businesses may engage in unethical practices because the practices are not ____.

a)

Right

b)

Illegal

c)

Law

d)

Consequences

10.

Businesses may engage in unethical practices because they are acceptable in ____.

a)

Social responsible

b)

Business Ethics

c)

Life

d)

Foreign Cultures

11.

An unethical business may build a negative ____.

a)

Public Image

b)

Reparation

c)

Illegal

d)

Consequences

12.

An unethical business may lose ____.

a)

Friends

b)

Stakeholders

c)

Investors

d)

Customers

13.

An unethical business increases its risk for ____.

a)

Being Sued

b)

Growing

c)

Innovation

d)

Bankruptcy

14.

I decided to open my own business alone which type of ownership do I have?

a)

Corporation

b)

General

c)

Sole Proprietorship

d)

PArtnership

15.

Walmart, Amazon, Target are which types of business ownerships?

a)

Corporation

b)

Partnership

c)

Sole Proprietorship

d)

Dictatorship

16.

We have an agreement that we split our business earnings 25% each four ways what type of ownership?

a)

Corporation

b)

Partnership

c)

Sole Proprietorship

d)

Taxatation

17.

Which of the following businesses is an example of a franchise?

a)

Burger King

b)

Chick-fila

c)

McDonalds

d)

All of the Above

18.

What does LLC stand for?

a)

Limited Liability Company

b)

Limited Liability corporation

c)

Limited Liability Cares

d)

All of the above

19.

A business organization that has 2-3 owners. Ex: Ben & Jerry’s

a)

Corporation

b)

Partnership

c)

Sole-Proprietorship

d)

Franchise

20.

A company that is owned by one person.

a)

Corporation

b)

Sole- proprietorship

c)

Partnership

d)

Franchise

21.

A person who organizes, manages, and takes on the risks of a business.

a)

Intrapreneur

b)

Entrepreneur

c)

Business man

d)

Innovator

22.

An improvement of an existing technological product, system, or method of doing something.

a)

Ideas

b)

Innovation

c)


Entrepreneur

d)


Intrapreneur

23.

Degree of uncertainty of return on an asset; in business, the likelihood of loss or reduced profit.

a)

Gamble

b)

Gain

c)

Risk

d)

Ethics

24.

Which type of Business Entrepreneur would a local coffee shop fall under?

a)

Small

b)

Social

c)

Scalable

d)

Large

25.

Which Business Entrepreneur would Target fall under?

a)

Small

b)

Large

c)

Scalable

d)

Social

26.

Which type of business would FaceBook owner Mark Zuckerberg fall under?

a)

Small

b)

social

c)

Scalable

d)

large

27.

A_______ does not own the business, but is hired by the business owner to help run the business.

a)

Owner

b)

Manager

c)

Friend

d)


Intrapreneur

28.

Corporations fund their own money

a)

True

b)

False

29.

4 Types of Business Check all that apply

a)

Small

b)

Large

c)

Social

d)

Corporation

30.

Two businesses that combine to form one organization is called what

a)

LLC

b)

franchise

c)

Merger

d)

S-corporation

31.

What does LLC stand for?

a)

Limited Life corporation

b)

Limited Liability Company

c)

Limited Liability Corporation

d)

Life limited company