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Entrepreneurship and Small Business (ESB)questions well answered
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Entrepreneurship and Small Business(ESB)
A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier
lifestyle. The cruise will offer seminars with materials on healthy eating and exercise, and all of the food
on the cruise will be healthy alternatives. Classify each expense as fixed or variable. SHIP RENTAL -
correct answer ✔✔Fixed
What is one impact that a company might experience as a result of an ethical violation? - correct answer
✔✔Reputation damage and significant loss of customers' trust
Which are three risks of entrepreneurship? - correct answer ✔✔Long hours
A fitness trainer is assessing a business strategy in a neighborhood whose residents are mainly single,
recent college graduates. The trainer would like to target local businesses in the neighborhood to acquire
new customers.Which group should be targeted at these local businesses? - correct answer
✔✔Employees who work at them
What is an advantage of buying a franchise? - correct answer ✔✔Marketing assistance
A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier
lifestyle. The cruise will offer seminars with materials on healthy eating and exercise, and all of the food
on the cruise will be healthy alternatives.Classify each expense as fixed or variable. FOOD - correct
answer ✔✔VARIABLE
A dog grooming business is legally structured as a sole proprietorship. What are the tax implications for
this structure? - correct answer ✔✔All profit earned by a sole proprietorship is income earned by the
owner, for which the owner will have a tax liability
A fitness trainer is presenting a business plan for a new studio to investors. The trainer envisions a studio
with equipment and features that will meet the needs of customers with a variety of personal and work
schedules. What studio feature would appeal to customers with demanding schedules? - correct answer
✔✔Providing 24 hour member access
, A landscaper owns a successful local business that provides lawn care services. The owner wants to
enhance the sustainability and longevity of the company. What should the owner do? - correct answer
✔✔Develop off-season services and secure a long-term credit line
Which three key values does a business plan provide? - correct answer ✔✔It helps determine business
viability
A hair salon is trying to determine how to tell if it is successful or not and has decided it will be
successful when it starts to make a profit.Which milestone will indicate this? - correct answer
✔✔Reached break- even point
A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier
lifestyle. The cruise will offer seminars with materials on healthy eating and exercise, and all of the food
on the cruise will be healthy alternatives.Classify each expense as fixed or variable. EXERCISE AND DIET
BOOKS - correct answer ✔✔FIXED
What is a characteristic of an entrepreneur? - correct answer ✔✔tenacious
A restaurant owner finds that 68% of customers never come back. What is the most important thing the
restaurant owner should do to have a higher percentage of repeat customers? - correct answer
✔✔Listen to customers
A restaurant owner wants to attract more customers by getting enough ratings to appear on a popular
social media site. The owner can generate 10% more business by reaching an additional 100 reviews. He
knows that if he provides one - hundred 50% off coupons for meals, he can get 100 reviews.How much
will it cost to increase business by 10% if reach coupon is likely to cost $15? - correct answer ✔✔$1,500
A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier
lifestyle. The cruise will offer seminars with materials on healthy eating and exercise, and all of the food
on the cruise will be healthy alternatives.Classify each expense as fixed or variable. CREW MEMBER
SALARIES - correct answer ✔✔variable
A travel agent wants to hire a new information technology manager for a fast-growing startup. The
company is two years old, and the ITM is a salaried position that oversees all technology
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