WorksheetsPractice 03
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
A _____________ is not taxed.
a)
Non-profit organization
b)
C corporation
c)
S corporation
d)
B corporation
2.
A(n) _____________ is suitable for international companies with at least 200 shareholders.
a)
Non-profit organization
b)
C corporation
c)
S corporation
d)
B corporation
3.
For a franchise opportunity, you will be able to purchase the items you believe will maintain your business without having to ask for permission.
a)
True
b)
False
4.
Taking on business debt is a requirement for entrepreneurship.
a)
True
b)
False
5.
Most online marketplaces charge _______ to vendors for listing or selling products.
a)
commission
b)
salary
c)
fees
d)
equity
6.
This market segment describes what customers think about and value and how they live their lives.
a)
Geographic
b)
Demographic
c)
Behavioral
d)
Psychographic
7.
Copyright licensing is required for material in the public domain.
a)
True
b)
False
8.
Trademark licensing is used for:
a)
brand names
b)
logos
c)
slogans
d)
inventions
9.
Which three items should you include in your value proposition when creating a business plan?
a)
The services you offer to customers
b)
An overview of your business
c)
The differences between your business and your competitors’ businesses
d)
Your target audience’s demographic information
10.
A sole proprietorship protects the owner from personal liability.
a)
True
b)
False
11.
The design thinking process is to develop a product based on:
a)
the deigner's needs
b)
the investor's needs
c)
the CEO's needs
d)
the customer's needs
12.
Business longevity increases potential funding opportunities.
a)
True
b)
False
13.
What is a risk of being an entrepreneur?
a)
Supply shortage
b)
Changing consumer trends
c)
Lack of financial resources
d)
Negative press or media coverage
14.
Which identifies the internal factors that impact your business while performing a SWOT analysis?
a)
Strengths and weaknesses
b)
Weaknesses and threats
c)
Strengths and opportunities
d)
Opportunities and threats
15.
Which two criteria are required for obtaining venture capital funding?
a)
Multiple business partners
b)
A scalable business model
c)
A profitable exit strategy
d)
Brand new technology
16.
Who reports to the board of directors and is the highest-ranking employee in the company?
a)
Chief Executive Officer (CEO)
b)
Founder
c)
Chief Financial Officer (CFO)
d)
Manager
17.
Variable costs depend on the increase or decrease in the amount of goods or services produced or sold.
a)
True
b)
False
18.
For which two reasons should a meal delivery company use direct distribution channels over indirect distribution channels?
a)
To build stronger relationships with customers
b)
To lower shipping costs
c)
To quickly get products to customers before they spoil
d)
To serve customers in a wide geographic area
19.
This market segment describes where customers are located and how they can be reached.
a)
Geographic
b)
Demographic
c)
Psychographic
d)
Behavioral
20.
Fixed costs are expenses that have to be paid by a company, regardless of changes in revenue.
a)
true
b)
false
100 %
