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ESB EXAM Study Guide Questions and Answers 100% Solved
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ESB EXAM Study Guide Questions andAnswers 100% Solved
A welding shop owner rents space in a building and needs a $5,000 in supplies to complete a
large project for a new customer. The bank has turned down a personal loan request. What is the
most practical source of funding for the materials needed to complete this customer job?
✔✔Asking for an advance payment from the customer whose large order is the reason the
materials are needed
Which are two benefits of using angel investors to help start a business? ✔✔Angels often accept
a lower return on investment compared to other sources of equity capital.
Angel investors typically do not expect to be paid until the business begins making money
What is a legal reason to practice ethics in your business? ✔✔to avoid lawsuits
The owner of a gas station on one side of town wants to retire and offers to sell the station to a
competitor located on the other side of town. The competitor agrees to cash out the seller, merge
the two businesses, and continue operating both locations. This is an example of which exit
strategy? ✔✔Harvesting
The owner of a software training company with 40 employees has decided to outsource the
payroll and payroll-related functions of the business. Which responsibility would be included in
this outsourcing? ✔✔Benefits administration
A business is legally structured as C corporation. What are the tax implications for this structure?
✔✔The corporation pays taxes and each of the share holders pays taxes
,A member of a band writes a new song. He wants to protect his song from being recorded or sold
by other bands. Which type of intellectual property protection will safeguard a song?
✔✔Copyright
A photographer wants to protect work she is about to create. Match each type of intellectual
property protection with the products the photographer might create. ✔✔Patent- Unique type of
portable tripod
Copyright- website gallery of stock photos available for purchase
Copyright- photographs of a wedding
Trademark- a logo representing the photographer's company brand
Flexibility ✔✔Ability to adapt, willingness to change
Courage ✔✔Takes risks in spite of possible losses
Empathy ✔✔Sensitive to thoughts and feelings of others
What are three characteristics of entrepreneurs? ✔✔Creativity, Determination, Enthusiasm
After a self-assessment, a potential entrepreneur has learned that she has a very low risk
tolerance. Based upon this finding, which approach might be less stressful for the entrepreneur to
have her own business? ✔✔Buy an existing business that is already successful.
, An entrepreneur moves into a small town and notices several stores selling guns and
ammunition. The entrepreneur loves to compete in competitive shooting events. Based on the
scenario provided, what should be emphasized in marketing to attract customers? ✔✔Location
An entrepreneur has been working for a flooring business in a neighboring town. He feels he is
ready to open his own flooring business in his local community. Which should be emphasized in
marketing to attract customers to his new business? ✔✔Lower Prices
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