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WorksheetsEntrepreneurship Unit 1 Test
Total questions: 31
Worksheet time: 16mins
The basic principles that govern a business's actions are
social responsibility
Foreign Cultures
Codes of Ethics
Business Ethics
Most industries have specific
Behavior
Respect
Public Image
Laws
Ethics begins with important ethical principles like ____.
Rules
Taxes
Laws
Altruistic
Business ethics are not the same thing as business ____.
Business Ethics
Code of Ethics
Stakeholders
Rules of Codes
Doing something unethical and doing something illegal may result in different ____.
Suspension
Jail Time
consequences
Bankruptcy
Businesses should behave ethically because of their ____.
foreign culture
respect
workers
social responsibility
Which is NOT a type of ownership?
Corporation
Sole Proprietorship
Altruistic
Partnership
Businesses must fulfill obligations to ____.
Altruistic
Business Ethics
customers
stakeholders
Businesses may engage in unethical practices because the practices are not ____.
Right
Illegal
Law
Consequences
Businesses may engage in unethical practices because they are acceptable in ____.
Social responsible
Business Ethics
Life
Foreign Cultures
An unethical business may build a negative ____.
Public Image
Reparation
Illegal
Consequences
An unethical business may lose ____.
Friends
Stakeholders
Investors
Customers
An unethical business increases its risk for ____.
Being Sued
Growing
Innovation
Bankruptcy
I decided to open my own business alone which type of ownership do I have?
Corporation
General
Sole Proprietorship
PArtnership
Walmart, Amazon, Target are which types of business ownerships?
Corporation
Partnership
Sole Proprietorship
Dictatorship
We have an agreement that we split our business earnings 25% each four ways what type of ownership?
Corporation
Partnership
Sole Proprietorship
Taxatation
Which of the following businesses is an example of a franchise?
Burger King
Chick-fila
McDonalds
All of the Above
What does LLC stand for?
Limited Liability Company
Limited Liability corporation
Limited Liability Cares
All of the above
A business organization that has 2-3 owners. Ex: Ben & Jerry’s
Corporation
Partnership
Sole-Proprietorship
Franchise
A company that is owned by one person.
Corporation
Sole- proprietorship
Partnership
Franchise
A person who organizes, manages, and takes on the risks of a business.
Intrapreneur
Entrepreneur
Business man
Innovator
An improvement of an existing technological product, system, or method of doing something.
Ideas
Innovation
Entrepreneur
Intrapreneur
Degree of uncertainty of return on an asset; in business, the likelihood of loss or reduced profit.
Gamble
Gain
Risk
Ethics
Which type of Business Entrepreneur would a local coffee shop fall under?
Small
Social
Scalable
Large
Which Business Entrepreneur would Target fall under?
Small
Large
Scalable
Social
Which type of business would FaceBook owner Mark Zuckerberg fall under?
Small
social
Scalable
large
A_______ does not own the business, but is hired by the business owner to help run the business.
Owner
Manager
Friend
Intrapreneur
Corporations fund their own money
True
False
4 Types of Business Check all that apply
Small
Large
Social
Corporation
Two businesses that combine to form one organization is called what
LLC
franchise
Merger
S-corporation
What does LLC stand for?
Limited Life corporation
Limited Liability Company
Limited Liability Corporation
Life limited company
