1. Which basic element of starting a business involves selecting a legal form such as a sole proprietorship, partnership, or corporation?
2. What is a primary advantage of buying an existing business compared to starting from scratch?
3. Which type of business focuses primarily on offering non-physical outputs centered around skills, knowledge, or consultation?
4. The process of securing assets, reputation, and future sustainability against various threats involves strategies for protecting the __________.
5. A characteristic of business involving ongoing and repeated transactions, rather than isolated events, signifies that it deals in __________ transactions.
6. What method of starting a venture involves utilizing support facilities from established organizations that offer resources, training, and operational assistance?
7. Exclusive rights granted to inventors for a limited period for new and useful inventions are known as:
8. The initial step in acquiring an existing business involves evaluating one's own skills, interests, and goals to determine the right fit, a process called __________ -Assessment.
9. Which entrepreneurial decision involves calculating the total funding needed and planning how to obtain and manage these funds?
10. A potential disadvantage of buying an existing business is the risk of discovering __________ costs, such as environmental liabilities or outstanding debts, after the purchase.
11. Brands or symbols used in commerce that are legally protected are known as __________.
12. Developing and enforcing strong contracts with suppliers, customers, and employees is a key aspect of which way of protecting a business?
13. Which characteristic highlights that businesses aim to satisfy customer desires and requirements through their products and services?
14. Protecting sensitive business data like customer information and financial records from cyberattacks and unauthorized access involves implementing robust data __________ measures.
15. What is the primary driver for most business ventures, representing the financial reward for the owner's efforts and risk-taking?
16. Establishing efficient systems for production, distribution, marketing, and customer support relates to setting up __________ processes.
17. Avoiding dependence on a single revenue source or customer by broadening products/services and customer base is a financial protection strategy known as revenue __________.
18. The thorough research and verification process undertaken before buying an existing business to confirm details and assess value is called due __________.
19. Which type of business involves creating finished products from raw materials through transformation processes using labor and factory resources?
20. Maintaining sufficient cash reserves to handle unexpected costs or economic downturns is crucial for which aspect of financial protection?
