Saylor Academy BUS 101 Unit 2
Assessment with correct answers
100%
Which of the following is an advantage of having a business whose legal entity is a sole
proprietorship? - Correct Answers It is the easiest and least expensive form of ownership to
organize.
The following statement is a disadvantage of which form of business entity? "Since decisions are
shared, disagreements can occur." - Correct Answers Partnership
Which of the following business forms would be appropriate for a business that is considering
obtaining outside financing and will be hiring employees? - Correct Answers Corporation
If you have no desire to share control of your business with anyone else, and have no need or
desire to seek outside financing, which of the following business entities is appropriate? -
Correct Answers Sole proprietorship
Which of the following statements is true about the Executive Summary in a Business Plan? -
Correct Answers It is the first section of the plan.
Which section of your Business Plan will include information about how your business will
grow? - Correct Answers Marketing
Which of the following statements is true about the Financials section of your Business Plan? -
Correct Answers Creditors may be interested in any collateral you have that may be used toward
your loan.
Which of the following statements about breakeven analysis is true? - Correct Answers The
shorter the breakeven time, the better the investment for a small business.
Assessment with correct answers
100%
Which of the following is an advantage of having a business whose legal entity is a sole
proprietorship? - Correct Answers It is the easiest and least expensive form of ownership to
organize.
The following statement is a disadvantage of which form of business entity? "Since decisions are
shared, disagreements can occur." - Correct Answers Partnership
Which of the following business forms would be appropriate for a business that is considering
obtaining outside financing and will be hiring employees? - Correct Answers Corporation
If you have no desire to share control of your business with anyone else, and have no need or
desire to seek outside financing, which of the following business entities is appropriate? -
Correct Answers Sole proprietorship
Which of the following statements is true about the Executive Summary in a Business Plan? -
Correct Answers It is the first section of the plan.
Which section of your Business Plan will include information about how your business will
grow? - Correct Answers Marketing
Which of the following statements is true about the Financials section of your Business Plan? -
Correct Answers Creditors may be interested in any collateral you have that may be used toward
your loan.
Which of the following statements about breakeven analysis is true? - Correct Answers The
shorter the breakeven time, the better the investment for a small business.
