INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A/An ____ is best described by stating it is any business that is independently owned and operated and is not dominate in its market.
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strategic alliance
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corporation
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small business
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None of the above
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Explanation:
Detailed explanation-1: -According to the SBA, a small business concern is a business that is independently owned and operated and which is not dominant in its field of operation and in conformity with specific industry criteria.
Detailed explanation-2: -Sole Proprietorship This is a business run by one individual for their own benefit. It is the simplest form of business organization. Proprietorships have no existence apart from the owners.
Detailed explanation-3: -A sole proprietorship-also referred to as a sole trader or a proprietorship-is an unincorporated business that has just one owner who pays personal income tax on profits earned from the business.
There is 1 question to complete.