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ESB Test DOS Exam Questions With Correct Answers_.pdf
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8/20/24, 9:18 PMESB Test DOS
Jeremiah
Terms in this set (44)
In general, which two characteristics define a -Fewer than 1,500 employees
"small" business? (Choose two) -Less than $35.5 million revenue
PHYSICAL:
-Bakery in your community
-Hair salon that makes appointments online
Classify each other the following businesses
as either Physical or Digital.
DIGITAL:
-Online store that dropships camping gear
-Bookstore on Amazon that sells eBooks
You need to create a legal structure for your C-Corporation
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?
Match each business management role to its The highest ranking employee in the company; reports to the board of directors. CEO
corresponding description. Creates budgets, analyzes financial data, and forecasts company profits. CFO
Develops policies and structures to protect company data. CIO
To answer, move each role from the list on Oversees the day-to-day administrative functions of a business; second in command.
the left to its description on the right. COO
ESB Test DOS
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, 8/20/24, 9:18 PM
You own a lawn care business. You have Salary and Hourly
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?
The business is separate from the owner with responsibilities delegated to staff. A
business in this stage usually commands a considerable share of the market and may
even be a household name. MATURITY
Company is stable and profitable. SUCCESS
Match each Stage of the Business Life cycle
to its corresponding description.
Expansion strategies are implemented, and investment is balanced with potential.
TAKEOFF
To answer, move each stage from the list on
the left to its description on the right.
Focus shifts to revenue, expenses, and growth. Cashflow is the major issue. SURVIVAL
OF THE FITTEST
The business introduces itself to the market and attempts to catch the attention of
potential customers. EXISTENCE
TRUE: Assumptions are challenged and ideas are created in the Ideate phase. Problem
statements are written in the Define phase.
For each statement about the Design
Thinking Process, select True or False.
FALSE: The Empathize phase tests solutions to users' problems. Building Prototypes is
the final phase of the Design Thinking Process.
Which of these is a characteristic of a Doesn't give up easily. NEVER BACK DOWN NEVER WHAT!?
successful entrepreneur mindset?
Which is one of the greatest risks of being an Financial instability
entrepreneur?
What is a primary benefit of starting a new Developing your own rules
business without purchasing a franchise or
buying an existing business?
A rancher is preparing to retire. He is An increase in land value
considering selling half of his land and
giving the other half to his children. He hears
that development for a ski resort was just
approved on land adjacent to his property.
Which viable business opportunity does the
retiring rancher foresee?
A _____ is a multi-page document describing Business Plan
a detailing a business.
A slide presentation for potential investors Pitch Deck
that summarizes of the key items of a
business is called a ________ _.
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