Identify a successful sole proprietor must exhibit all of the following except: Leadership skills, Be fully responsible for the firm’s performance, Be willing to work 40 hours per week, Organization skills
ENTREPRENEURSHIP

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1.
FLASHCARD QUESTION
Front
Back
Be willing to work 40 hours per week
2.
FLASHCARD QUESTION
Front
Identify disadvantages of a partnership except:
- Decision making must be shared among partners
- General partners are subject to unlimited liability
- Profits are shared among partners
- Multiple partners bring additional funds to the business
Back
Multiple partners bring additional funds to the business
3.
FLASHCARD QUESTION
Front
Select disadvantages of a sole proprietorship i. Easy to set up ii. Not regarded as a separate legal entity iii. More responsibilities iv. Owner keeps all the profit v. Liability is unlimited
Back
ii, iii and iv
4.
FLASHCARD QUESTION
Front
Identify secondary sources in entrepreneurial ideas and opportunities except: Reliable existing data, References, Mass media and electronic media, Internet
Back
Internet
5.
FLASHCARD QUESTION
Front
Select type of business i. Sole Proprietorship ii. Partnership iii. Private Limited Company iv. Public Limited Company.
Back
i, ii, iii and iv
6.
FLASHCARD QUESTION
Front
Identify entrepreneurship support facilities: i. Financial ii. Management Training and Entrepreneurship iii. Advertising iv. Technology v. Location and business space
Back
Financial, Management Training and Entrepreneurship, Technology, Location and business space
7.
FLASHCARD QUESTION
Front
What type of business do most entrepreneurs start? Options: Partnership, Corporation, Sole Proprietorship, Private limited company
Back
Partnership
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