ENTREPRENEURSHIP

Quiz 6 (Make up)

I. Identification (10 pts)
1.
A type of investor that contributes expertise and experience for the business
2.
Partners who are liable to all claims in the Partnership
3.
Type of asset also called short-lived assets
4.
Business ownership that is easiest to organize
5.
Binding agreement or contract in forming a Corporation
6.
Composed of 2 or more persons binding themselves to a contract to contribute
money, properties and expertise with the intention of dividing profits among
themselves.
7. A special form of corporation allowed by law usually in managing the affairs of
the church.
8. A type of corporation that limits the ownership of issued stocks at most for 20
persons.
9. Incorporate by at least 5 to 15 natural persons
10. A partner who is not personally liable for all obligations of the business beyond
his or her capital contribution.
II. Modified True or False (10 pts)
11. The enterprise must clearly state its mission for the sake of the customers.
12. The risks involved and its contingency measures should be included in the
executive summary
13. A very good business plan limits what it can communicate about the enterprise
14. Business name reflects the company and its products and services
15. Fixed assets are composed of cash, inventory and accounts receivables.

ENTREPRENEURSHIP
Quiz 6 (Make up)
I. Identification (10 pts)
1. A type of investor that contributes expertise and experience for the business
2. Partners who are liable to all claims in the Partnership
3. Type of asset also called short-lived assets
4. Business ownership that is easiest to organize
5. Binding agreement or contract in forming a Corporation
6. Composed of 2 or more persons binding themselves to a contract to contribute
money, properties and expertise with the intention of dividing profits among
themselves.
7. A special form of corporation allowed by law usually in managing the affairs of the
church.
8. A type of corporation that limits the ownership of issued stocks at most for 20
persons.
9. Incorporate by at least 5 to 15 natural persons
10. A partner who is not personally liable for all obligations of the business beyond his
or her capital contribution.
II. Modified True or False (10 pts)
11. The enterprise must clearly state its mission for the sake of the customers.
12. The risks involved and its contingency measures should be included in the executive
summary
13. A very good business plan limits what it can communicate about the enterprise
14. Business name reflects the company and its products and services
15. Fixed assets are composed of cash, inventory and accounts receivables.