Milo is a financial accountant who recently started an accounting firm. He is personally responsible for the success or failure of the company. This company can be bought over by an existing business. This scenario shows that Milo owns a _____.
a. joint-stock company
b. limited liability company
c. joint venture
d. start-up
2. Which of the following is the most important source of money for financing a new business?
a. Personal resources
b. Venture capital companies
c. SBA financial programs
d. Strategic alliances
3. Which of the following is required to help alert entrepreneurs to potential trouble?
a. An innate sense of optimism
b. Luck
c. Dedication
d. An effective control system