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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. Which of the following businesses represents a sole proprietorship?

Question 2 2. What is the best explanation of pass-through taxation?

Question 3 3. What type of entrepreneur may be involved with skunk works?

Question 4 4. Which one of the following is a cost a franchisee often must bear relating to the franchise arrangement?

Question 5 5. What do you call the documentation that governs the corporation's activities?

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Question 6 6. What type of accounting method recognizes income when earned and expenses when incurred?

Question 7 7. What happens if a sole proprietorship takes on a second owner?

Question 8 8. Which one of the following is NOT a way that a Limited Liability Company is like a corporation?

Question 9 9. Which of the following describes the income tax treatment for a sole proprietorship?

Question 10 10. Which of the the following is not a component of marketing for a small business?

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Question 11 11. What's the best explanation of entrepreneurship?

Question 12 12. 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 13 13. Which one of the following is the best explanation of an entrepreneur?

Question 14 14. Which of the following governs the relationship between a franchisee and a franchisor?

Question 15 15. Which one of the following is considered a disadvantage of a corporation?

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Question 16 16. Tyler is the sole owner and stockholder of the corporation, Tyler's Tires. Two years ago, Tyler's Tires hired Anna as the CEO. If Tyler dies, what happens to Tyler's Tires?

Question 17 17. Which of the following best describes a franchise?

Question 18 18. The raw materials are late for delivery, shutting down production. How would an entrepreneur most likely deal with the situation?

Question 19 19. Which one of the following is not an important person to which an entrepreneur must engage in communication?

Question 20 20. What can be a disadvantage associated with the use of a franchise?

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Question 21 21. Which of the following factors of production is most relevant to entrepreneurship?

Question 22 22. Which one of the following do LPs, LLPS, and LLLPs have in common but is not a characteristic of a general partnership?

Question 23 23. Which one of the following is part of starting and running a small business?

Question 24 24. A sole proprietorship must register with which of the following?

Question 25 25. Who can manage an LLC?

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

Question 27 27. What method of financing is available to small business owners?

Question 28 28. What is the primary reason a business would decide to become a corporation over any other form of organization?

Question 29 29. 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?

Question 30 30. Which type of entrepreneur is focused on getting a new business off the ground and then moving on to start a new one?

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!

FTCE Marketing 6-12 (057): Test Practice & Study Guide  /  Business Courses
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