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WorksheetsEntrepreneurship 1 Unit 1 Test
Total questions: 20
Worksheet time: 10mins
An individual who identifies an opportunity to create new value, develops and offers a unique product, assumes the risks of starting and building a business, focuses on the improvement and growth of that business, and receives personal and financial rewards for her/his efforts
Intrapreneur
Etiquette
Risk
Entrepreneur
The basic principles that govern your behavior
Globalization
Ethics
Etiquette
Entrepreneur
The process by which businesses or other organizations develop international influence or start operating on an international scale
Globalization
Ethics
Risk
Entrepreneur
Anything that threatens an organization's ability to generate profits at its target levels
Ethics
Risk
Globalization
Entrepreneur
This is a form of business ownership where two or more people act as co-owners.
PARTNER
PARTNERSHIP
BUSINESS PARTNER
COMPANY
John, Robert, and Charles were college friends who wanted to start a business. John has creative ability, Robert’s expertise is selling, and Charles’ expertise is management. However, each has limited capital. The ideal business ownership for these young men is a:
merger.
partnership.
franchise.
corporation
The American Red Cross is an example of a(n) ___________ corporation.
Franchise
Nonprofit
Corporation
Partnership
Wendy’s sells the right to operate its restaurants to individuals who meet the company’s criteria. The arrangement between Wendy’s and these individuals is an example of:
a partnership agreement.
multi-level marketing.
licensing.
franchising.
Name the business type.
Susan starts a jewelry-making business she calls "Susan's Treasures."
sole proprietorship
corporation
partnership
Name the business type.
Nike Inc.
sole proprietorship
corporation
partnership
Name the business type.
Ben and Jerry decided to go into the ice cream business together.
corporation
sole proprietorship
partnership
Name the business type.
"Helping Hands Childcare" is a local business owned by Nancy Williams.
partnership
corporation
sole proprietorship
Name the business type.
John tutors Chemistry to local high school students.
sole proprietorship
corporation
partnership
Name the business type.
Timothy owns a 711 in Richmond, VA. He is a part-owner of the franchise.
sole proprietorship
corporation
partnership
Allen and Allen Law Firm
corporation
partnership
corporation
Lucy has her own business selling boutique clothing in New York.
sole proprietorship
corporation
partnership
What is a company’s blueprint for success?
business plan
employee plan
financial plan
management plan
What is the most common reason for writing a business
plan?
to get your business out to the market
to show how good a writer you are
to obtain funding from a bank or investor
to help you screen job applicants
