Front

The process of starting, organizing, managing and assuming the responsibility of a business:

Back

entrepreneurship

Front

A business structure in the US that protects its owners from personal responsibility for its debts: Corporation, Partnership, sole proprietorship, Limited Liability Corporation

Back

Limited Liability Corporation

Front

Business entity that is usually owned by multiple stockholders and operates as a separate legal entity.

Back

corporation

Front

What is an entrepreneur?

Back

A person who organizes and operates a business or businesses.

Front

Which is NOT a common characteristic of an entrepreneur? Options: a follower, self-motivated, has a strict schedule, takes responsibility

Back

a follower

Front

More successful entrepreneurs are usually older.

Back

True

Front

Sole proprietorships and partnerships have unlimited liability.

Back

True

Front

Income stability is not a problem when you start a business because you can write off expenses.

Back

False

Front

A partnership agreement includes: capital contributions, partners duties & acceptance of liabilities, acceptance of profit & loss and dispute resolution

Back

All of these

Front

Which is true of a sole proprietorship? Options: it is easy to start, less paperwork than other forms of business, unlimited liability, all of these

Back

all of these