ESB V.2 EXAM 2 Questions And Revised Correct Answers
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Course
ESB
Institution
ESB
ESB V.2 EXAM 2 Questions And
Revised Correct Answers
1. In general, which two characteristics define a "small"
business? (Choose two) - ANSWER : Fewer then
1,500 employees
AND
Less than $35.5 million revenue
2. Classify each of the following businesses as either
Physical or Digital. - ...
ESB V.2 EXAM 2 Questions And
Revised Correct Answers
1. In general, which two characteristics define a "small"
business? (Choose two) - ANSWER : Fewer then
1,500 employees
AND
Less than $35.5 million revenue
2. Classify each of the following businesses as either
Physical or Digital. - ANSWER : Physical:
- Bakery in your community
- Hair salon that makes appointments online
Digital:
- Online store that dropships camping gear
- Bookstore on Amazon that sells eBooks
You need to create a legal structure for your small
business. You have plans for it to grow and hope in the
future to sell shares to the public. Your startup partners
are citizens of Mexico and Japan. You do not want to be
personally responsible for business liabilities.
Which legal structure should you set up for your business?
- ANSWER : C-Corporation
, Match each business management role to its
corresponding description.
To answer, move each role from the list on the left to its
description on the right. - ANSWER : COO: Oversees the
day-to-day administrative functions of a business; second
in command.
CIO: Develops policies and structures to protect company
data.
CFO: Creates budgets, analyzes financial data, and
forecasts company profits.
CEO: The highest-ranking employee in the company;
reports to the board of directors.
You own a lawn care business. You have employees who
work long hours laboring in good weather, often exceeding
40 hours per week. They also work short hours when the
weather is bad, sometimes they can't work at all. You do
all of the sales for your business.
Which two types of compensation would be appropriate for
these landscape employees? - ANSWER : Salary &
Hourly
Match each Stage of the Business Life Cycle to its
corresponding description.
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