Entrepreneurship Fundamentals Flashcard

Front

Which of the following is a key component of a business plan? Employee benefits, Market analysis, Office location, Social media strategy

Back

Market analysis

Front

What is the primary purpose of a business plan?

Back

To secure funding

Front

Which funding source involves raising small amounts of money from a large number of people, typically via the internet?

Back

Crowdfunding

Front

What is an essential trait of an entrepreneurial mindset?

Back

Resilience

Front

Which legal structure offers the owner limited liability protection? Options: Sole proprietorship, Partnership, Corporation, Cooperative

Back

Corporation

Front

What does the abbreviation "LLC" stand for in business?

Back

Limited Liability Company

Front

Which section of a business plan outlines the company's goals and objectives? Options: Executive summary, Financial plan, Marketing strategy, Mission statement

Back

Mission statement

Front

Which of the following is a common source of funding for startups? Government grants, Personal savings, Corporate bonds, Stock dividends

Back

Personal savings

Front

What is a characteristic of a sole proprietorship? Options: Limited liability, Double taxation, Single owner, Shareholders

Back

Single owner

Front

Which of the following is a common business abbreviation for "Return on Investment"? ROI, RIO, RNI, RIOI

Back

ROI