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- Fill in the BlankPlease save your changes before editing any questions.
**** can be defined as a situation
involving exposure to danger
- Multiple ChoicePlease save your changes before editing any questions.
What risks might entrepreneurs be exposed to in the
business world?
Financial
Lots of personal time
Reputational
Competition
- Multiple ChoicePlease save your changes before editing any questions.
What is a calculated risk?
where a chance of exposure to loss or injury is undertaken
having looked at the disadvantages of taking that risk
where a chance of exposure to loss or injury is undertaken
having carefully assessed the advantages and disadvantages of taking that risk
where a chance of exposure to loss or injury is undertaken
having completely assessed the advantages and disadvantages of taking any risk
- Multiple ChoicePlease save your changes before editing any questions.
Successful entrepreneurs will see the
opportunity offered by a _______ risk,
and know when to take that risk
small
possible
potential
- Multiple ChoicePlease save your changes before editing any questions.
In the first year of trading, how many business fail to survive approximately?
25
5
10
- Multiple ChoicePlease save your changes before editing any questions.
What is the most important thing to a new business
Credit
Cash
Orders
Time
- Multiple ChoicePlease save your changes before editing any questions.
Limited liability means owners of business?
they are personally liable for the business debts
they are not personally liable for the business debts
they are partially liable for the business debts
- Multiple ChoicePlease save your changes before editing any questions.
Who are most likely to suffer when a limited company fails?
investors
supplier
employees
Owners
- Multiple ChoicePlease save your changes before editing any questions.
Owners of small businesses such as sole traders and partnerships are _____ responsible for all the debts of the business
personally
partially
not
- Multiple ChoicePlease save your changes before editing any questions.
If a sole traders business fails, could he lose his house to pay for his debts?
Yes
No
- Multiple ChoicePlease save your changes before editing any questions.
Which of these are potential reasons for business failure?
Static market conditions
Poor cash-flow management
Lack of demand
poor business location
- Multiple ChoicePlease save your changes before editing any questions.
What does External Factors mean?
Factors inside the business which affect its success
Factors outside the business which affect its success
- Multiple ChoicePlease save your changes before editing any questions.
Profit is what?
The money you are paid by your customers
The money you have left after paying all your bills
The money you are owed by your suppliers
The money you have left in your bank
- Multiple ChoicePlease save your changes before editing any questions.
Are non-financial rewards a reason people may setup a business?
Yes
No
- Multiple ChoicePlease save your changes before editing any questions.
Which of these could be more important to an entrepreneur than money?
Personal Wealth
Recognition
A chance to do something new
Not taking risks
- Multiple ChoicePlease save your changes before editing any questions.
Independence is often seen as bonus to starting your own business, it means?
Being your own boss
Not being the boss
Being able to share the risks
Working for only one other company
- Multiple ChoicePlease save your changes before editing any questions.
What is a Philanthropist?
They study plants
They promote personal wealth over everything else
They promote the welfare of others by making generous donations to good causes
They promote the success of other business by lending money
- Multiple ChoicePlease save your changes before editing any questions.
When owning your own business, you never have to worry about earning your next pay packet.
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Approximately how many new startups fail in the first 5 years?
75%
15%
50%
- Multiple ChoicePlease save your changes before editing any questions.
What are two of the challenges an entrepreneur can face?
Stress
Having a stable income
Independence
Having no challenges