Business Economics – Questions With Definite
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Terms in this set (51)
nature of business
- size
- location
- background
goals and objectives
marketing plan
- prices for products
- customers demand
5 elements of business plan - comparison of products and services
financial plan
- investment needed to start or maintain business
-projected income
organizational plan
- legal form of ownership
- organization chart
- job description
- legal factors
Do most businesses start no
with several owners?
is it typical for months and yes
years to pass before a new
business earns a profit
do new businesses often yes
fail for financial reasons
Do typical entrepreneurs no
give up quickly when they
are not immediately
successful?
, in recent years, have an yes
increasing number of
women opened their own
businesses
is the legal form of yes
ownership one of the first
decisions that a new owner
must make
does the form of ownership yes
selected depend upon the
financial responsibility the
owner is willing to assume
should the entrepreneur no
write a business plan soon
after launching the business
is the corporation the most no
common form of ownership
can as few as two people no
form a sole proprietorship
does it usually take less yes
time for decisions to be
made in a propprietorship
than in other forms of
business ownership
can a sole proprietor be yes
forced to use personal
possession to pay off debts
if the business fails
is a business that provides yes
personal services well
suited to the proprietorship
form of organization
is a partnership limited to a no
maximum of 6 partners
can a partnership usually yes
borrow money more
readily than a sole
proprietorship
Answers
Save
Terms in this set (51)
nature of business
- size
- location
- background
goals and objectives
marketing plan
- prices for products
- customers demand
5 elements of business plan - comparison of products and services
financial plan
- investment needed to start or maintain business
-projected income
organizational plan
- legal form of ownership
- organization chart
- job description
- legal factors
Do most businesses start no
with several owners?
is it typical for months and yes
years to pass before a new
business earns a profit
do new businesses often yes
fail for financial reasons
Do typical entrepreneurs no
give up quickly when they
are not immediately
successful?
, in recent years, have an yes
increasing number of
women opened their own
businesses
is the legal form of yes
ownership one of the first
decisions that a new owner
must make
does the form of ownership yes
selected depend upon the
financial responsibility the
owner is willing to assume
should the entrepreneur no
write a business plan soon
after launching the business
is the corporation the most no
common form of ownership
can as few as two people no
form a sole proprietorship
does it usually take less yes
time for decisions to be
made in a propprietorship
than in other forms of
business ownership
can a sole proprietor be yes
forced to use personal
possession to pay off debts
if the business fails
is a business that provides yes
personal services well
suited to the proprietorship
form of organization
is a partnership limited to a no
maximum of 6 partners
can a partnership usually yes
borrow money more
readily than a sole
proprietorship
