ESB Exam One (GMETRIX)- Entrepreneurship and Small Business Study Set with Complete Solutions
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ESB Exam One (GMETRIX)- Entrepreneurship and Small Business Study Set with Complete SolutionsESB Exam One (GMETRIX)- Entrepreneurship and Small Business Study Set with Complete SolutionsESB Exam One (GMETRIX)- Entrepreneurship and Small Business Study Set with Complete SolutionsESB Exam One (GMETRI...
which legal structure should you set up for your b
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ESB Exam One (GMETRIX)-
Entrepreneurship and Small Business
Study Set with Complete Solutions
What is Entrepreneurship?
A) Marketing and selling products.
B) Setting up a business with the aim to make a profit.
C) Acquiring leadership and managerial skills.
D) Quickly advancing in positions within a corporation. - ANSWER-B) Setting up a
business with the aim to make a profit.
You need to create a legal structure for your small business. You would like some of the
benefits enjoyed by large corporations, but do not want to be taxed twice. You have four
partners who will be shareholders. None of you plan to sell your ownership shares to
the public, but do want to be protected from business liabilities.
Which legal structure should you set up for your business?
A) Sole Proprietorship
B) C-Corporation
C) Limited Liability Company
D) S-Corporation - ANSWER-D) S-Corporation
Which is one of the greatest benefits of being an entrepreneur?
A)
B)
C)
D) - ANSWER-Schedule control
The owner of a landscaping business has notified that none of his competitors are
including ponds or other water features in the gardens they create. The landscaper
wants to determine the viability of this business opportunity.
What should this entrepreneur do FIRST before offering to design and build water
features as part of his landscaping business?
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