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WorksheetsDash for Success -Round 6
Total questions: 62
Worksheet time: 2hrs 3mins
Coca-Cola and Coke are trademarked names for a certain drink made by the Coca-Cola Company, which means
no other business can make a cola drink.
no other business can use the name Pepsi.
no other business can use the name Coca-Cola or Coke.
no other business can use the name Coca-Cola or Coke or any name that is similar.
What kind of material can be covered on "Copyright"?
Books and plays
photographs and movies
Music and dances
All of these can be protected.
Laws protecting intellectual property from unauthorized copying.
Licensing
Patent
Trademarks
Copyright
______________is a word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of others.
Service Mark
Trademark
Patent
Copyright
Which of the elements in this graphic are trademarked by Nike?
The stylized name "NIKE"
The swoosh
The phrase "JUST DO IT."
All are trademarked
Bart would like to legally prevent all other businesses from using his business logo, “Headquarters Barbershop.” Bart must apply to the government to receive a:
Copyright
License
Patent
Trademark
What is the term that includes patents, trademarks, copyrights, and trade secrets?
Intellectual property
patent
copyright
Which protection is needed for any new/useful
process, machine, manufactured
good or composition of matter?
Patent
Trademark
Trade Secret
License
Trade secrets are...
Intellectual property records to protect inventions
Intellectual property to protect artistic and literary works.
Intellectual property kept secret used to protect confidential information, such as the secret formula for making Coca-Cola, or Chick-Fil-a Sauce.
Intellectual property that identifies the source (maker or provider) of products and services. They are usually words, designs, or a combination of words and a design.
Copyright law protects authored works; _________ law protects invention.
Patent
Copyright
Trade Mark
Trade Secret
Compensation:
A fee paid to an employee for completing a task.
A signed agreement stating that an entity will not disclose information agreed upon by all parties in an arrangement.
A legally binding agreement between two parties.
A monetary amount given to employees in return for their work.
An example of ________ compensation is paying field laborers for the amount of fruit they pick.
Piece work
salary
commission
hourly
A ________ employee receives a set amount of pay each month without overtime compensation for extra hours worked.
Piece work
Salary
Hourly
Commission
An employee who is paid a percentage of a sale is paid by ________.
Commission
Hourly
Salary
Piece Work
Bob is thinking about selling his profitable grocery story. He has been approaced by buyer who wants to purchase his business. What business lift cycle stage is he in?
Existence
Success
Resource maturity
Exit plan
Shelly started a new business last year. The business has a good customer count, and is starting to making a profit. In which business life cycle stage is she in?
Success
Survival
Take off
Resource maturity
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
A thing that you can touch or a service that you can offer which is sold to your customers
problem
product
solution
key metrics
This is how you get your idea out, advertise.
key metrics
solution
channels
revenue streams
These are your expenses. All the money you have to pay into your business to keep it going.
channels
revenue streams
cost structure
competitive advantage
This is a simple diagram that captures a business model.
lean canvas model
problem
key metrics
customer segments
Which 2 documents summarize the business plan of a company? (choose 2)
BUSINESS PLAN
LEAN CANVAS
BALANCE SHEET
MARKETING PLAN
PITCH DECK
A pitch deck is a visual slide presentation
True
False
A typical pitch deck has between 20-100 slides
True
False
A slide presentation for potential investors that summarizes of the key items of a business is called a __________.
Business Plan
Pitch Deck
Lean Canvas
A __________ is a single-page business summary template.
Business Plan
Pitch Deck
Lean Canvas
Which 3 components are characteristic of a Pitch Deck? (choose 3)
10-20 slides
Highly visual
highly texted based
used to get investors attention
used to get investor buy in
Lily, Mia, and Sophia are starting a new business. They are conducting a research to understand the potential customer's profile. What is this process called?
Market Analysis
Marketing Plan
Mission Statement
Growth Plan
This is where your target customers are listed. Who do you want to help?
unique value proposition
competitive advantage
customer segments
key metrics
Avery, Abigail, and Lily are working on a startup idea. They need a simple diagram that captures their business model. What should they use?
lean canvas model
problem
key metrics
customer segments
Consider this real-world scenario:
Jackson, Arjun, and Ava started a tech startup together. After years of hard work, their company is now stable and profitable. Match the stage of their Business Life Cycle:
Success
Takeoff
Maturity
Existence
You need to create a legal structure for your small business. You would like some of the benefits enjoyed by larger corporations, but do not want to be taxed twice. You have four partners who will be shareholders. None of you plan to sell your ownership shares to the public but do want to be protected from business liabilities. Which legal structure should you set up for your business?
C-Corp
Partnership
S-Corp
LLC
Abigail, Hannah, and Anika are planning to start a business where they would pay taxes on the company's profit and losses through their personal taxes. They also want to ensure that there is no risk of personal lawsuits. What type of business should they start?
LLC
Non Profit
Sole Proprietorship
S Corporation
Nonprofit:
A type of business that has no owner and does not pay federal US taxes.
The expenses incurred for running day-to-day tasks in a business.
The way one approaches new ideas and ventures in their life.
A form of communication between businesses and customers which relays a message promoting services and/or goods.
Samuel and Aria are planning to start a business and considering to form an S Corporation. Isla, their business advisor, mentioned a disadvantage of S Corporations. What could it be?
They have high taxation rates
There are very strict qualification requirements for becoming an S corporation
There is a limited number of allowed S corporations
They are subject to double-taxation
You need to create a legal structure for your small business. You have plans for it to grow and hope in the future to sell shares to the public. Your startup partners are citizens of Mexico and Japan. You do not want to be personally responsible for business liabilities. Which legal structure would you set up?
S-Corp
Limited liability Company LLC
Sole proprietorship
C-Corp
An individual owns a dog grooming business and must pay self-employment tax on individual earnings.
Which type of legal structure makes self-employment tax a relevant concern?
C corporation
S corporation
Sole proprietorship
Limited liability companies
An individual hired by a company and compensated for their work.
Customer
Stakeholder
Stockholder
Employee
Specialist/
Consultant
Person that creates the company is known as the ___
CEO
Stockholder
Founder
COO
CFO
Person that oversees the finances of the company is known as the ___
CEO
Stockholder
Founder
COO
CFO
Who overseas the day to day administrative functions of a business, second in command.
CEO
COO
CIO
CFO
Match the stage of the Business Life Cycle:
The business is separate from the owner with responsibilities delegated to staff. A business in this stage usually commands a considerable share of the market and may even be a household name
Survival of the Fittest
Takeoff
Maturity
Existence
Which phase of the Design Process will challenge Assumptions and create ideas
Empathize
Define
Ideate
Prototype
Test
Which phase of the Design Process will try your solutions
Empathize
Define
Ideate
Prototype
Test
Which phase of the Design Process will create solutions
Empathize
Define
Ideate
Prototype
Test
Which phase of the Design Process will research your users' needs
Empathize
Define
Ideate
Prototype
Test
Business Life Cycle Stages
Stage 2 - Income and customers begin to grow
Existence
Survival
Success Stage
Take-Off Stage
Resourse Maturity Stage
Which corporation uses a double layer of taxation?
C Corporation
S Corporation
Limited Liability Corporation
Sole Proprietorship
What is the main drawback of a sole proprietorship?
They are easy to create
They require a partner
They are responsible to shareholders
They have unlimited personal liability
Match the following characteristics to the appropriate legal structure:
Shared financial backing and responsibilities
Partnership
LLC
Non profit
C corporation
Investor:
A person or entity willing to provide monetary funds to a business with the hopes of earning a return on their money.
A one-page document discussing key information commonly seen in a business plan.
A creative work or invention to which an individual has been given rights.
•Goods a business owns with the purpose of selling.
Maya is a professional dancer. What is she offering when she performs her skill?
Product
Service
This involves your pricing of products/services. What/where are moneys coming into your business?
problem
key metrics
revenue streams
cost structure
During which stage of the design thinking process is a problem statement formed?
Define
Test
Ideate
Protoype
