Marketing Essentials

Chapter 33: Entrepreneurial Concepts

Self-Checks

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
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