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Entrepreneurship EOPA Practice Test

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Which term refers to the official business name filed with the state, sometimes called fictitious or assumed name?
Correct Answer:
Trade Name
Explanation:
The term describes the official business name a company files with the state to operate under a name different from its legal entity name. This is also known as a fictitious or assumed name (often called a DBA in many places). Filing a trade name lets the public and other entities know who they’re dealing with and enables the business to engage in contracts, banking, and licensing under that name. The other terms don’t fit because they do not refer to the registered name a business uses in commerce.

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