What is entrepreneurship? - ️️Setting up a business with the aim to make a profit.
For each business, select B2B or B2C. - ️️B2B
Purchases requiring a tax exemption certificate.
Wholesale flooring distributor.
B2C
Motorcycle repair shop.
Chain of local grocery stores.
Which leg...
What is entrepreneurship? - ✔ ✔ Setting up a business with the aim to make a profit.
For each business, select B2B or B2C. - ✔ ✔ B2B
Purchases requiring a tax exemption certificate.
Wholesale flooring distributor.
B2C
Motorcycle repair shop.
Chain of local grocery stores.
Which legal structure should you set up for your business? - ✔ ✔ S-Corporation
For each statement about owners of equity in a business, select true or false. - ✔ ✔ True
Founders own equity.
partner owns equity.
False
All stakeholder owns equity.
Contractors own equity.
Complete the sentence about company roles and responsibilities by selecting the correct option from
each drop-down list. - ✔ ✔ 1. Piece work
2. Salary
, 3. Hourly
4. Commission
Place the stages of the business life cycle in the correct order. - ✔ ✔ Stage 1. Existence
Stage 2. Survival of the fittest
Stage 3. Success
Stage 4. Take-off
Stage 5. Maturity
Match each element of the Design Thinking Process to its corresponding description. - ✔ ✔ 1.
Empathize
2. Define
3. Ideate
4. Prototype
5. Test
Successful entrepreneurs have mindsets that typically possess which three characteristics? - ✔ ✔
Responsible
Adaptable
Tenacious
Which is one of the greatest benefits of being an entrepreneur? - ✔ ✔ Schedule control
Which three characteristics help identify a business opportunity? - ✔ ✔ Service
Price
Quality
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller jackline98. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.49. You're not tied to anything after your purchase.
