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WorksheetsUnit 9 Assessment
Total questions: 15
Worksheet time: 8mins
A business owned by two or more people.
Partnership
Corporation
Sole Proprietorship
Franchise
Companies that sell products and services to businesses.
Vendors
Customers
Distributors
Retailers
Items of value that you own.
Assets
Liabilities
Expenses
Debts
Amounts you owe.
Liabilities
Assets
Equity
Revenue
A business that has the legal rights of a person but is independent of its owners.
Corporation
Sole Proprietorship
Partnership
Limited Liability Company
Fill in the blank: _______ products that a business sells to its customers.
products
services
ideas
brands
Fill in the blank: A legal agreement that gives an individual the rights to market a company’s products or services in a particular area. _______
franchise
license
partnership
joint venture
Which of the following are ways you can become an entrepreneur?
Starting a new business
Buying a franchise
Investing in a startup
All of the above
List the 4 types of ownership.
Sole Proprietorship, Partnership, Corporation, Limited Liability Company
Sole Proprietorship, Partnership, Corporation, Cooperative
Sole Proprietorship, Partnership, Corporation, Franchise
Sole Proprietorship, Partnership, Corporation, Joint Venture
Which of the following steps must you follow to give your building a nice design?
Consult an architect
Ignore building codes
Use only cheap materials
Skip the planning phase
What are the startup costs for financing your business?
Initial investment costs
Operational expenses
Marketing expenses
All of the above
What two factors are there when it comes to purchasing items for your business?
Cost and quality
Brand and warranty
Location and availability
Customer reviews and ratings
16. Why are operating procedures essential as a business owner?
To ensure consistency and efficiency in operations
To increase the number of employees
To reduce the need for marketing
To eliminate all risks in business
17. Which of the following is the correct order of steps to hire staff?
Post the job, Screen resumes, Conduct interviews, Make an offer
Conduct interviews, Post the job, Make an offer, Screen resumes
Make an offer, Conduct interviews, Screen resumes, Post the job
Screen resumes, Make an offer, Post the job, Conduct interviews
18. What are the 2 ways to consider growth in your business?
By increasing revenue and expanding market reach
By reducing costs and improving efficiency
By hiring more employees and increasing production
By enhancing customer satisfaction and loyalty
