G-Metrix Entrepreneurship & Small Business v.2 - U.S Practice Exa
Test.
1. What is Entrepreneurship? Setting up a business with the aim to make a profit.
2. clarify several businesses as B2B:
ei- ther B2B or B2C • Wholesale flooring distributor
• Purchases requiring a tax exemption
certificate B2C:
• Motorcycle repair shop
• Chain of local
3. You create a legal structure grocery stores S-
for your small business. Do
you would like some of the Corporation
bene- fits of enjoyed by
large corpo- rations, but do
not want to be taxed twice.
You have four part- ners
who will be shareholders.
None of you plan to sell
your ownership shares to
the pub- lic, but do want to
be protected from business
liabilities. Which legal
structure should you set up
for your business?
4. For each statement about True:
own-
ers of equity in a business, select • A partner owns equity.
True or False. 5. Complete the sentence about
Company roles and responsibil-
, G-Metrix Entrepreneurship & Small Business v.2 - U.S Practice Exa
Test.
• founder
s own equity.
False:
• contractors own equity.
• all stakeholders own equity.
An example of PIECE WORK compensation is
paying field laborers for the amount of fruit
they pick.
, G-Metrix Entrepreneurship & Small Business v.2 - U.S Practice Exa
Test.
ities by selecting the A SALARY employees a receives amount of pay each
correct op- tion for each month without overtime compensation for extra
drop-down list. hours worked.
Employees most attected by minimum wage laws are
com- pensated HOURLY.
An employee who is paid a percentage of a sale is
paid by COMMISSION.
6. Place the stages of the Stage 1: existence
business life cycle in the Stage 2: survival of the fittest
correct order.
Move all of the stages to the an- Stage 3: success
swer area and place them in the Stage 4: takeott
correct order. Stage 5: maturity
7. Match each element of Research your users' needs: Empathize
the de- sign thinking State your users' needs and problems:
process to its cor- Define Challenge assumptions and create
responding description. To ideas: Ideate Create solutions: Prototype
an- swer, move each
element from
the list on the left to it's descrip- Try your solutions: Test
tion on the right.
8. Successful entrepreneurs Tenacious adaptable and responsible
have mindsets that
typically possess which
three characteristics?
9. Which is one of the greatest ben- Schedule control
efits of being an entrepreneur?
10. Which three characteristics help Either:
Test.
1. What is Entrepreneurship? Setting up a business with the aim to make a profit.
2. clarify several businesses as B2B:
ei- ther B2B or B2C • Wholesale flooring distributor
• Purchases requiring a tax exemption
certificate B2C:
• Motorcycle repair shop
• Chain of local
3. You create a legal structure grocery stores S-
for your small business. Do
you would like some of the Corporation
bene- fits of enjoyed by
large corpo- rations, but do
not want to be taxed twice.
You have four part- ners
who will be shareholders.
None of you plan to sell
your ownership shares to
the pub- lic, but do want to
be protected from business
liabilities. Which legal
structure should you set up
for your business?
4. For each statement about True:
own-
ers of equity in a business, select • A partner owns equity.
True or False. 5. Complete the sentence about
Company roles and responsibil-
, G-Metrix Entrepreneurship & Small Business v.2 - U.S Practice Exa
Test.
• founder
s own equity.
False:
• contractors own equity.
• all stakeholders own equity.
An example of PIECE WORK compensation is
paying field laborers for the amount of fruit
they pick.
, G-Metrix Entrepreneurship & Small Business v.2 - U.S Practice Exa
Test.
ities by selecting the A SALARY employees a receives amount of pay each
correct op- tion for each month without overtime compensation for extra
drop-down list. hours worked.
Employees most attected by minimum wage laws are
com- pensated HOURLY.
An employee who is paid a percentage of a sale is
paid by COMMISSION.
6. Place the stages of the Stage 1: existence
business life cycle in the Stage 2: survival of the fittest
correct order.
Move all of the stages to the an- Stage 3: success
swer area and place them in the Stage 4: takeott
correct order. Stage 5: maturity
7. Match each element of Research your users' needs: Empathize
the de- sign thinking State your users' needs and problems:
process to its cor- Define Challenge assumptions and create
responding description. To ideas: Ideate Create solutions: Prototype
an- swer, move each
element from
the list on the left to it's descrip- Try your solutions: Test
tion on the right.
8. Successful entrepreneurs Tenacious adaptable and responsible
have mindsets that
typically possess which
three characteristics?
9. Which is one of the greatest ben- Schedule control
efits of being an entrepreneur?
10. Which three characteristics help Either:
