WorksheetsSmall Business Quiz
Total questions: 13
Worksheet time: 6mins
What is an entrepreneur willing to explore?
Only safe and known opportunities
New opportunities and unknown risks
Opportunities with guaranteed success
Only opportunities with no competition
Which of the following is NOT a characteristic of digital goods?
No need for physical storage
Requires additional employees
Instant delivery
Difficult to demonstrate value
What is a transaction called when a customer purchases an item from a business?
Business-to-business transaction (B2B)
Business-to-consumer transaction (B2C)
Consumer-to-consumer transaction (C2C)
Consumer-to-business transaction (C2B)
In a B2C transaction, who is the buyer?
Another business
A consumer
A supplier
A manufacturer
Which transaction type commonly takes place when one business supplies materials to another business?
B2C
C2B
B2B
C2C
In a partnership, how many parties are involved in managing the business?
One
Two or more
None
Only two
Who is responsible for the debts in a sole proprietorship?
The government
The owner
The partners
No one
Which business structure is easy to create due to lack of government regulation?
Corporation
Partnership
Sole proprietorship
Non-profit entity
Which of the following is NOT a type of business ownership?
Sole proprietorship
Partnership
Corporation
Monopoly
What is a key disadvantage of a sole proprietorship?
Complex tax filing.
Limited access to capital.
Shared decision-making.
High start-up costs.
Which business structure is often used by large companies with multiple shareholders?
Sole Proprietorship
Corporation
Partnership
Limited Liability Company
Which business structure is characterised by limited liability and separate legal identity?
Sole proprietorship
Partnership
Corporation
Cooperative
What is the primary characteristic of a sole proprietorship?
It is owned by multiple shareholders.
It is owned and operated by one individual.
It is a non-profit organisation.
It is a government-owned entity.
