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Questions and Answers
What is the definition of a business enterprise?
What is the definition of a business enterprise?
- Long-term economic activity with own or rented assets and labor, for profit. (correct)
- An enterprise is a for-profit, long-term economic activity using foreign assets and labour.
- An enterprise is a for-profit, long-term economic activity using its own assets and labour.
- An enterprise is a long-term economic activity using its own assets and labour, with the purpose of work.
What is the definition of a company?
What is the definition of a company?
- The organizational framework of the business enterprise. (correct)
- The legal entity responsible for profit-making activities.
- The financial division of a business enterprise.
- The administrative structure within a business enterprise.
Which of the following areas belong to the tertiary sector?
Which of the following areas belong to the tertiary sector?
- Technology, research
- Services, trade (correct)
- Extractive industries, agriculture
- Construction, manufacturing
Is the statement true about limited liability company’s liability?
Is the statement true about limited liability company’s liability?
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Is the statement true about the officers of a corporation?
Is the statement true about the officers of a corporation?
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Study Notes
Business Enterprise and Company
- A business enterprise is an organization that produces goods and/or services to earn profits.
- A company is a type of business enterprise that is a legal entity, separate from its owners, with its own rights and responsibilities.
Tertiary Sector
- The tertiary sector includes areas such as:
- Education
- Healthcare
- Finance
- Transportation
- Communication
- Tourism
- Hospitality
- Real Estate
Limited Liability Company
- In a limited liability company, the liability of its owners (shareholders) is limited to the amount they invested in the company.
Officers of a Corporation
- The officers of a corporation, such as the CEO, president, and treasurer, are responsible for the day-to-day management and operation of the company.
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Description
Test your knowledge of business enterprise with this quiz! Explore the definition of a business enterprise and assess your understanding of its key characteristics. Choose the correct answer and enhance your understanding of this fundamental aspect of economic activity.
