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ESB EXAM 2 STUDY GUIDE Questions and Answers 100% Correct | Latest 2024
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ESB EXAM 2 STUDY GUIDE Questions andAnswers 100% Correct | Latest 2024
Economy Pricing - ANSWER Prices that targeting customers looking to save as
much money as possible.
What business scenario fits the definition of a small business, according to the
SBA? - ANSWER A fast food restaurant that is independently owned and
operated
You need to create a legal structure for you 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-Corp
The highest-ranking employee in the company;reports to the board of directors -
ANSWER CEO
Creates budgets, analyzes financial data, and forecasts company profits -
ANSWER CFO
Manages the technological requirements of a company. - ANSWER CTO
Oversees the day-to-day administrative functions of a business; second in
command. - ANSWER COO
, A computer training business needs to hire a consultant for a project to revamp
the training courseware. Once the courseware is revamped, the consultant's
services are complete. Which business compensation structure will pay the
consultant and lead to the smallest payroll tax liability for the business? -
ANSWER Contract
Pivot - ANSWER Change part of a business model.
Persevere - ANSWER Make attempts to scale a business
Exit strategy - ANSWER Turn a business over to a family member
Which of these characteristics of a successful entrepreneur mindset? (Choose
two) - ANSWER Can tolerate risk and Resilient
You are weighing possible risk in becoming an entrepreneur. Which situation is a
risk of being an entrepreneur? - ANSWER Financial instability
What is a primary benefit of starting a new business without purchasing a
franchise or buying an existing business? - ANSWER Developing your own
rules.
A______is a multi-page document describing and detailing a business. -
ANSWER Business plan
A slide presentation for potential investors that summarizes the kay items of a
business is called a_____. - ANSWER Pitch Deck
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