1.13. Which legal structure of business ownership provides limited liability to its shareholders? 1.14. What is the primary purpose of a business plan in the process of starting a... 1.13. Which legal structure of business ownership provides limited liability to its shareholders? 1.14. What is the primary purpose of a business plan in the process of starting a business? 1.15. What is the primary purpose of self-assessment for individuals aspiring to become entrepreneurs? 1.16. Which of the following factors is considered a part of entrepreneurial attitudes? 1.17. What is the significance of market research in entrepreneurship?
Understand the Problem
The question provides multiple-choice questions related to business and entrepreneurship concepts. It addresses different aspects of starting a business, such as legal structures, business plans, self-assessment in entrepreneurship, and the significance of market research. The goal is to identify the correct answers based on knowledge of entrepreneurship.
Answer
1.13 D) LLC; 1.14 C) Goals and strategies; 1.15 C) Strengths and weaknesses; 1.16 C) Resilience; 1.17 B) Identifies gaps
1.13 D) Limited Liability Company (LLC) 1.14 C) Outlining the business's goals and strategies 1.15 C) To recognize strengths and weaknesses related to entrepreneurship 1.16 C) Resilience and a willingness to learn from failures 1.17 B) It identifies potential gaps in the market and target audience needs
Answer for screen readers
1.13 D) Limited Liability Company (LLC) 1.14 C) Outlining the business's goals and strategies 1.15 C) To recognize strengths and weaknesses related to entrepreneurship 1.16 C) Resilience and a willingness to learn from failures 1.17 B) It identifies potential gaps in the market and target audience needs
More Information
Limited liability companies and corporations offer limited liability protection. Business plans are crucial for setting objectives and strategies. Self-assessment helps aspiring entrepreneurs identify personal strengths and weaknesses. Entrepreneurial attitudes include resilience, while market research is key to understanding audience needs.
Tips
Common mistakes include confusing partnership liability with that of a corporation or LLC, and missing the goal-oriented nature of a business plan.
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