Question 1

In the first 30 days of your new company you should:

Accepted Answer

A)  Register your Internet domain name. 
B)  Select a lawyer. 
C)  File your first tax return. 
D)  Join the local entrepreneurs' network. 
A)  Register your Internet domain name. 
B)  Select a lawyer. 
C)  File your first tax return. 
D)  Join the local entrepreneurs' network.

Question 2

All of the following are advantages of a partnership except:

Accepted Answer

A)  Division of Profits 
B)  Larger Pool of Capital 
C)  Capital Accumulation 
D)  Easy to Establish 
A)  Division of Profits 
B)  Larger Pool of Capital 
C)  Capital Accumulation 
D)  Easy to Establish

Question 3

The functions of each officer are defined by:

Accepted Answer

A)  Board of directors 
B)  Stockholders 
C)  Officers themselves 
D)  Government 
A)  Board of directors 
B)  Stockholders 
C)  Officers themselves 
D)  Government

Question 4

A disadvantage of a limited liability company is that the owners do not assume liabilities for debt.

Accepted Answer

A) True 
 B)False

Question 5

A(n) ________ partnership must have at least one general partner so at least one person or entity's personal assets must be at stake.

Accepted Answer

The answer of A(n) ________ partnership must have at least...

Question 6

When choosing an attorney, an entrepreneur should select one who is able to assist in formatting the business, filing necessary documents with governmental authorities, and preparing employment contracts.

Accepted Answer

A) True 
 B)False

In the first 30 days of your new company you should:

All of the following are advantages of a partnership except:

The functions of each officer are defined by:

A disadvantage of a limited liability company is that the owners do not assume liabilities for debt.

A(n) ________ partnership must have at least one general partner so at least one person or entity's personal assets must be at stake.

When choosing an attorney, an entrepreneur should select one who is able to assist in formatting the business, filing necessary documents with governmental authorities, and preparing employment contracts.

Understanding the Entrepreneurial Process

Converting Ideas Into Opportunities

Framing and Testing the Business Model

Engaging Customers, Analyzing Competitors, for Market Entry Strategy

Preparing the Investor Package

Protecting Intellectual Property

Launching and Financing Your Venture

Equity Financing for High Growth

Managing Start-Up Performance/money and People

Pitching the Venture to Investors

Planning Your Exit

Filters

Exam 6: Setting up the Company

In the first 30 days of your new company you should:

All of the following are advantages of a partnership except:

The functions of each officer are defined by:

A disadvantage of a limited liability company is that the owners do not assume liabilities for debt.

A(n) ________ partnership must have at least one general partner so at least one person or entity's personal assets must be at stake.

When choosing an attorney, an entrepreneur should select one who is able to assist in formatting the business, filing necessary documents with governmental authorities, and preparing employment contracts.

Understanding the Entrepreneurial Process

Converting Ideas Into Opportunities

Framing and Testing the Business Model

Engaging Customers, Analyzing Competitors, for Market Entry Strategy

Preparing the Investor Package

Protecting Intellectual Property

Launching and Financing Your Venture

Equity Financing for High Growth

Managing Start-Up Performance/money and People

Pitching the Venture to Investors

Planning Your Exit

Filters