Marketing Essentials

Chapter 33: Entrepreneurial Concepts


1.	What are two disadvantages of entrepreneurship?
		A)	Hard work
		B)	Long hours
		C)	Financial risk
		D)	All of the above


2.	Ways to become an entrepreneur are
		A)	Purchasing an existing business or a franchise
		B)	Start a new business
		C)	taking over the family’s business
		D)	All of the above


3.	What is sole proprietorship?
		A)	A business owned by one person
		B)	A corporation
		C)	A limited partnership
		D)	A foreign corporation


4.	What is a corporation?
		A)	A limited liability company
		B)	A legal agreement to sell a parent company’s products
		C)	A legal entity created by a state or a federal statute that allows individuals to run a business
		D)	A business where each partner is liable for business debts


5.	What does DBA stand for?
		A)	A county government’s registration for a foreign corporation
		B)	The filing of Articles of Organization for an LLC
		C)	The county registration that recognizes the existence of a new proprietorship or partnership
		D)	None of the above