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ESB V.2 EXAM 2 QUESTIONS AND ANSWERS 100% SOLVED
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ESB V.2 EXAM 2 QUESTIONS AND ANSWERS 100% SOLVED
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Payroll: $3,000ESB V.2 EXAM 2 QUESTIONS AND
ANSWERS 100% SOLVED
Which two are benefit of using Angel investors to help start a business? (Choose two)
✔✔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.
For each statement about Requirements to Obtain Funding, select True or False. ✔✔True:
Bootstrapping requires the owner(s) of the company to provide all of the funding.
Equity financing requires a business owner to give up control of the business to obtain funding.
False:
Lenders do not require owners to identify the purpose of the loan.
The business owner's personal credit score does not affect their ability to qualify for a loan.
In general, which two characteristics define a "small" business? (Choose two) ✔✔Fewer then
1,500 employees
AND
Less than $35.5 million revenue
,Payroll: $3,000
Classify each of the following businesses as either Physical or Digital. ✔✔Physical:
Bakery in your community
Hair salon that makes appointments online
Digital:
Online store that dropships camping gear
Bookstore on Amazon that sells eBooks
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 business liabilities.
, Which legal structure should you set up for your business? ✔✔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. ✔✔COO:
Oversees the day-to-day administrative functions of a business; second in command.
CIO: Develops policies and structures to protect company data.
CFO: Creates budgets, analyzes financial data, and forecasts company profits.
CEO: The highest-ranking employee in the company; reports to the board of directors.
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 employees?
✔✔Salary & Hourly
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