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CSET Business - Entrepreneurship Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What type of partnership has a general partner who has full liability and a limited partner whose liability is limited to their investment in the partnership?

Question 2 2. Which type of entrepreneur is focused on getting a new business off the ground and then moving on to start a new one?

Question 3 3. Which one of the following is considered a disadvantage of a corporation?

Question 4 4. In the United States, how is the size of a business defined?

Question 5 5. Which one of the following do LPs, LLPS, and LLLPs have in common but is not a characteristic of a general partnership?

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Question 6 6. How much protection from liability does a sole proprietorship offer?

Question 7 7. What is the difference between an S-corporation and a C-corporation?

Question 8 8. Which of the following is the best explanation of the main difference or differences between a limited partner and a general partner?

Question 9 9. Which one of the following is not a typical characteristic of an entrepreneur?

Question 10 10. What is the primary reason a business would decide to become a corporation over any other form of organization?

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Question 11 11. Which of the following best describes a franchise?

Question 12 12. What type of partnership offers no protection from personal liability for the partners?

Question 13 13. What do you call the documentation that governs the corporation's activities?

Question 14 14. How many employees can manufacturing companies have and still be considered a small business in the United States?

Question 15 15. The willingness of an entrepreneur to work for herself and use her own money knowing there's a chance that she will lose it all demonstrates what type of characteristic?

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Question 16 16. Which of the following businesses represents a sole proprietorship?

Question 17 17. Which one of the following is the partnership document that governs the rights and responsibilities of the partners?

Question 18 18. What type of entrepreneur may be involved with skunk works?

Question 19 19. Tina, a new small business owner, has robust revenue that are paid six months after the sale. Her business plan does not have an exit strategy. Which of the following is a reason that her business may fail?

Question 20 20. Which of the following factors of production is most relevant to entrepreneurship?

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Question 21 21. What type of accounting method recognizes income when earned and expenses when incurred?

Question 22 22. What is the best explanation of a microenterprise?

Question 23 23. Which one of the following is a cost a franchisee often must bear relating to the franchise arrangement?

Question 24 24. Which of the following describes the income tax treatment for a sole proprietorship?

Question 25 25. Which one of the following is not an important person to which an entrepreneur must engage in communication?

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Question 26 26. Which of the following is not part of human resources management?

Question 27 27. Which of the the following is not a component of marketing for a small business?

Question 28 28. What's the best explanation of entrepreneurship?

Question 29 29. What method of financing is available to small business owners?

Question 30 30. Which of the following is a unique challenge to taking a franchise global?

CSET Business - Entrepreneurship Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

CSET Business Subtest III (177): Practice & Study Guide  /  Business Courses
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