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ESB v.2 Domain 1 Entrepreneurship & Small Business Concepts questions with correct answers
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ESB v.2 Domain 1 Entrepreneurship & Small Business Concepts questions with correct answers
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ESB v.2 Domain 1 Entrepreneurship & SmallBusiness Concepts questions with correct
answers
B2B - Answer A business-to-business (B2B) commercial transaction between
businesses
B2C - Answer A business-to-consumer (B2C) transaction
Brand recognition - Answer The level of familiarity one has with a brand
Business Opportunity - Answer A situation an entrepreneur analyzes and evaluates
to see if starting a sustainable, profitable business is feasible
Business Plan - Answer A document that addresses the concept, customers, and
capital for a business
C Corporation - Answer A C corporation is a legal structure for a corporation in
which the owners, or shareholders, are taxed separately from the entity. C
corporations are also subject to corporate income taxation. The taxing of profits
from the business is at both corporate and personal levels, creating a double
taxation situation.
CEO - Answer The Chief Executive Officer (CEO) holds a leadership role within a
business. The CEO oversees a business's operations and resources and makes the
major decisions for the company.
CFO - Answer The Chief Financial Officer (CFO) holds a leadership role within a
business. The CFO oversees a company's finances.
, Collaboration - Answer The action of working with one or more people toward a
common goal.
Commission - Answer A fee paid to an employee for completing a task.
Compensation - Answer A monetary amount given to employees in return for their
work.
Confidentiality Agreement - Answer A signed agreement stating that an entity will
not disclose information agreed upon by all parties in an arrangement.
Contract - Answer An agreement between an employee and a company outlining
obligations and terms of employment.
COO - Answer The Chief Operating Officer (COO) holds a leadership role within
a business. The COO is responsible for overseeing the day-to-day administrative
and operational functions of a business.
Copyright - Answer A form of protection individuals can implement to protect
their intellectual property. Copyright is designated for print, music, film, and
various other forms of creative licenses.
Critical Thinking - Answer Using one's mind to solve a problem in the best way by
considering various potential solutions to the problem.
Customer - Answer An individual or business that purchases goods and services
from a business.
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