Gmetrix Marketing Final Test Questions with Certified Solutions
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Course
Gmetrix Mrkting
Institution
Gmetrix Mrkting
What is Entrepreneurship?
• Marketing and selling products.
• Acquiring leadership and managerial skills.
• Setting up a business with the aim to make a profit.
• Quickly advancing in positions within a corporation • Setting up a business with the aim to
make a profit.
You need to c...
Gmetrix Marketing Final Test Questions with Certified Solutions What is Entrepreneurship? • Marketing and selling products. • Acquiring leadership and managerial skills. • Setting up a business with the aim to make a profit. • Quickly advancing in positions within a corporation ✔✔• 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 wan t 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? • S-Corp oration • Limited Liability Company • Sole Proprietorship • C- Corporation ✔✔• S-Corporation Place the stages of the business life cycle in the correct order. Move all of the stages to the answer area and place them in the correct order. Note: You wi ll receive partial credit for each correct answer. ✔✔Stage 1 Existence Stage 2 Survival of the Fittest Stage 3 Success Stage 4 Take -off Stage 5 Manurity Match each Element of the Design Thinking Process to its corresponding description. To answer, move each element from the list on the left to its description on the right . Note: You will receive partial credit for each correct answer . ✔✔Research your users' needs - Empathize State Your Users' Needs and Problems - Define Challenge Assumptions and Crea te Ideas - Ideate Create Solutions - Prototype Try Your Solutions - Test In general, which two characteristics define a "small" business ? (Choose two ) • Between 500 and 2,500 employees • No more than $200,000 in sales • Less than $35.5 million reven ue • Non -profit • Fewer than 1, 500 employees ✔✔• Less than $35.5 million revenue • Fewer than 1, 500 employees 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 bus iness liabilities. Which legal structure should you set up for your business? • S- Corporation • C- Corporation • Sole Proprietorship • Limited Liability Company ✔✔• 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 . ✔✔• (CEO) The highest -ranking employee in the companyreports to the board of directors. • (CFO ) Creates budgets , analyzes financial data , and forecasts company prof its . • (CIO) Develops policies and structures to protect company data . • (COO) Oversees the day -to-day administrative functions of a business ; second in command . 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 emplo yees? • Salary • Commission • Piece work • Equity • Hourly ✔✔• Salary • Hourly Match each Stage of the Business Life Cycle to its corresponding description . To answer , move each stage from the list on the left to its description on the right. ✔✔• Maturity - The business is separate from the owner with responsibilities delegated to staff . A business in
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