ESB Exam() Questions (Answers for ESB Practice Test Entrepreneurship & Small Business v.2 - U.S. Practice Exam 1 Training)ESB Exam() Questions (Answers for ESB Practice Test Entrepreneurship & Small Business v.2 - U.S. Practice Exam 1 Training)ESB Exam() Questions (Answers for ESB Practice Test Ent...
[Show more]
Flexibility - ANSWER-Ability to adapt, willingness to change Courage - ANSWER-Takes risks in spite of possible losses Empathy - ANSWER-Sensitive to thoughts and feelings of others What are three characteristics of entrepreneurs? - ANSWER-Creativity, Determination, Enthusiasm After a self...
Preview 2 out of 13 pages
Add to cartFlexibility - ANSWER-Ability to adapt, willingness to change Courage - ANSWER-Takes risks in spite of possible losses Empathy - ANSWER-Sensitive to thoughts and feelings of others What are three characteristics of entrepreneurs? - ANSWER-Creativity, Determination, Enthusiasm After a self...
Acquisition Cost - ANSWER-the cost of obtaining data that you don't have Contingency costs - ANSWER-amount of money included to cover potential events that are not specifically accounted for in a cost estimate Variable Cost - ANSWER-a cost that rises or falls depending on how much is produced...
Preview 1 out of 3 pages
Add to cartAcquisition Cost - ANSWER-the cost of obtaining data that you don't have Contingency costs - ANSWER-amount of money included to cover potential events that are not specifically accounted for in a cost estimate Variable Cost - ANSWER-a cost that rises or falls depending on how much is produced...
Quality - ANSWER-_______ is measured by how well the product or service successfully serves its users' purpose. E-commerce sales and door-to-door sales - ANSWER-What are two examples of direct distribution channels? Middlemen - ANSWER-Indirect distribution channels use _______ to sell their p...
Preview 2 out of 5 pages
Add to cartQuality - ANSWER-_______ is measured by how well the product or service successfully serves its users' purpose. E-commerce sales and door-to-door sales - ANSWER-What are two examples of direct distribution channels? Middlemen - ANSWER-Indirect distribution channels use _______ to sell their p...
Ophelia runs a local seamstress business. Ophelia is losing customers to a competing business. Upon sending an employee over to check out the competition, Ophelia discovers the competitor's turnaround time is double her turnaround time. What should Ophelia's new marketing strategy be to woo back h...
Preview 2 out of 5 pages
Add to cartOphelia runs a local seamstress business. Ophelia is losing customers to a competing business. Upon sending an employee over to check out the competition, Ophelia discovers the competitor's turnaround time is double her turnaround time. What should Ophelia's new marketing strategy be to woo back h...
James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? - ANSWER-$24,800 Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each one and...
Preview 1 out of 4 pages
Add to cartJames owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? - ANSWER-$24,800 Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each one and...
In general, which characteristics define a "small" business? - ANSWER-- fewer than 1,500 employees - less than $35.5 million revenue classify each of the following as either physical or digital - ANSWER-PHYSICAL: - bakery in your community - hair salon that makes appointments online DIGIT...
Preview 2 out of 7 pages
Add to cartIn general, which characteristics define a "small" business? - ANSWER-- fewer than 1,500 employees - less than $35.5 million revenue classify each of the following as either physical or digital - ANSWER-PHYSICAL: - bakery in your community - hair salon that makes appointments online DIGIT...
What are the 3 elements required to have a trade secret? 1.Subject to reasonable efforts to maintain its secrecy 2. Others cannot legitimately obtain the information 3. A unique logo or brand names 4.Information has economic value not generally known 5. Original work must be in a tangible form ...
Preview 1 out of 2 pages
Add to cartWhat are the 3 elements required to have a trade secret? 1.Subject to reasonable efforts to maintain its secrecy 2. Others cannot legitimately obtain the information 3. A unique logo or brand names 4.Information has economic value not generally known 5. Original work must be in a tangible form ...
Domain 1 Lesson 1 - ANSWER- The key objective of a small business owner is to generate ____ - ANSWER-profits Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly - ANSWER-risks Tangible items that require pick-up or delivery are ____ produ...
Preview 2 out of 15 pages
Add to cartDomain 1 Lesson 1 - ANSWER- The key objective of a small business owner is to generate ____ - ANSWER-profits Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly - ANSWER-risks Tangible items that require pick-up or delivery are ____ produ...
C Corporation - ANSWER-Double taxed, shareholders and corporation, great for international businesses S Corporation - ANSWER-Lower tax, pay on personal income only, like the C corporation but for smaller businesess. LLC - ANSWER-great for individuals with low risks nonprofit organization - ...
Preview 1 out of 1 pages
Add to cartC Corporation - ANSWER-Double taxed, shareholders and corporation, great for international businesses S Corporation - ANSWER-Lower tax, pay on personal income only, like the C corporation but for smaller businesess. LLC - ANSWER-great for individuals with low risks nonprofit organization - ...
What is entrepreneurship? - ANSWER-Setting up a business with the aim to make a profit. For each business, select B2B or B2C. - ANSWER-B2B Purchases requiring a tax exemption certificate. Wholesale flooring distributor. B2C Motorcycle repair shop. Chain of local grocery stores. Which le...
Preview 2 out of 6 pages
Add to cartWhat is entrepreneurship? - ANSWER-Setting up a business with the aim to make a profit. For each business, select B2B or B2C. - ANSWER-B2B Purchases requiring a tax exemption certificate. Wholesale flooring distributor. B2C Motorcycle repair shop. Chain of local grocery stores. Which le...
Entrepreneurship - ANSWER-Setting up business with the aim to make profit. B2B (business-to-business) - ANSWER-Sells products and services directly to other businesses. Normally requires a sales tax exemption certificate from the buyer. B2C (business-to-consumer) - ANSWER-Sells products and se...
Preview 2 out of 6 pages
Add to cartEntrepreneurship - ANSWER-Setting up business with the aim to make profit. B2B (business-to-business) - ANSWER-Sells products and services directly to other businesses. Normally requires a sales tax exemption certificate from the buyer. B2C (business-to-consumer) - ANSWER-Sells products and se...
In general, which two characteristics define a "small" business? (Choose two) - ANSWER-Fewer then 1,500 employees AND Less than $35.5 million revenue Classify each of the following businesses as either Physical or Digital. - ANSWER-Physical: - Bakery in your community - Hair salon tha...
Preview 2 out of 8 pages
Add to cartIn general, which two characteristics define a "small" business? (Choose two) - ANSWER-Fewer then 1,500 employees AND Less than $35.5 million revenue Classify each of the following businesses as either Physical or Digital. - ANSWER-Physical: - Bakery in your community - Hair salon tha...
What is entrepreneurship? - ANSWER-Setting up a business with the aim to make a profit. B2B - ANSWER-Purchases requiring a tax exemption certificate; wholesale flooring distributor B2C - ANSWER-motorcycle repair shop; chain of local grocery stores S - Corporation - ANSWER-offers many of the...
Preview 1 out of 2 pages
Add to cartWhat is entrepreneurship? - ANSWER-Setting up a business with the aim to make a profit. B2B - ANSWER-Purchases requiring a tax exemption certificate; wholesale flooring distributor B2C - ANSWER-motorcycle repair shop; chain of local grocery stores S - Corporation - ANSWER-offers many of the...
2x sold
Elements of the Design Thinking Process - ANSWER-Stage 1: Emphasize- Research Your Users' Needs Stage 2: Define- State Your Users' Needs and Problems Stage 3: Ideate- Challenge Assumptions and Create Ideas Stage 4: Prototype- Start to Create Solutions Stage 5: Test- Try Your Solutions Out D...
Preview 2 out of 10 pages
Add to cartElements of the Design Thinking Process - ANSWER-Stage 1: Emphasize- Research Your Users' Needs Stage 2: Define- State Your Users' Needs and Problems Stage 3: Ideate- Challenge Assumptions and Create Ideas Stage 4: Prototype- Start to Create Solutions Stage 5: Test- Try Your Solutions Out D...
T/F Trademark licensing is used for brand names, logos, or slogans - ANSWER-True This segment describes the benefits to customers based on their wants or needs and how they use the product - ANSWER-Behavioral T/F Trade secret licensing must be registered with the gov - ANSWER-True T/F The d...
Preview 2 out of 5 pages
Add to cartT/F Trademark licensing is used for brand names, logos, or slogans - ANSWER-True This segment describes the benefits to customers based on their wants or needs and how they use the product - ANSWER-Behavioral T/F Trade secret licensing must be registered with the gov - ANSWER-True T/F The d...
What is entrepreneurship? - ANSWER-Setting up a business with the aim to make a profit. A________employee received a set of amount of pay each month without overtime compensation for extra hours worked. - ANSWER-Salary An example of_______compensation is paying field laborers for the amount of...
Preview 1 out of 4 pages
Add to cartWhat is entrepreneurship? - ANSWER-Setting up a business with the aim to make a profit. A________employee received a set of amount of pay each month without overtime compensation for extra hours worked. - ANSWER-Salary An example of_______compensation is paying field laborers for the amount of...
what is the key objective of a small business owner is to generate? - ANSWER-Profits Businesses can compensate employees for work they produce when being paid by - ANSWER-piece work Name one benefit of a franchise. - ANSWER-Less risk is evolved Best for international business even with bein...
Preview 1 out of 2 pages
Add to cartwhat is the key objective of a small business owner is to generate? - ANSWER-Profits Businesses can compensate employees for work they produce when being paid by - ANSWER-piece work Name one benefit of a franchise. - ANSWER-Less risk is evolved Best for international business even with bein...
The owner of a mobile food truck plans to sell tacos , hamburgers, and other foods to employees in a large office complex . Before opening his business , the owner will most likely need to obtain which of the following documents from each employee to verify they have completed a course in food handl...
Preview 2 out of 6 pages
Add to cartThe owner of a mobile food truck plans to sell tacos , hamburgers, and other foods to employees in a large office complex . Before opening his business , the owner will most likely need to obtain which of the following documents from each employee to verify they have completed a course in food handl...
Nonprofit - ANSWER-a type of business that has no owner and does not pay Federal US taxes Marketing Plan - ANSWER-a written plan that outlines a company's marketing strategies Angel investor - ANSWER-An investor who provides funding to a business for a stake in the business in return. C Co...
Preview 1 out of 3 pages
Add to cartNonprofit - ANSWER-a type of business that has no owner and does not pay Federal US taxes Marketing Plan - ANSWER-a written plan that outlines a company's marketing strategies Angel investor - ANSWER-An investor who provides funding to a business for a stake in the business in return. C Co...
What is Entrepreneurship? A) Marketing and selling products. B) Setting up a business with the aim to make a profit. C) Acquiring leadership and managerial skills. D) Quickly advancing in positions within a corporation. - ANSWER-B) Setting up a business with the aim to make a profit. You n...
Preview 1 out of 4 pages
Add to cartWhat is Entrepreneurship? A) Marketing and selling products. B) Setting up a business with the aim to make a profit. C) Acquiring leadership and managerial skills. D) Quickly advancing in positions within a corporation. - ANSWER-B) Setting up a business with the aim to make a profit. You n...
After doing a self-assessment, Peter realizes he wants to start a plumbing business, but doesn't want to risk alot of his own money. What would be his best option? - ANSWER-Purchase an existing business Besides defining strengths and weaknesses, what is the other main factor determined during a ...
Preview 2 out of 6 pages
Add to cartAfter doing a self-assessment, Peter realizes he wants to start a plumbing business, but doesn't want to risk alot of his own money. What would be his best option? - ANSWER-Purchase an existing business Besides defining strengths and weaknesses, what is the other main factor determined during a ...
Research Process - ANSWER-Question, design, findings, publishing True Experiment - ANSWER-designs in which the researcher manipulates ALL independent variables; total control over who's in what group Quasi Experimental Design - ANSWER-designs in which random assignments cannot be used Quas...
Preview 2 out of 7 pages
Add to cartResearch Process - ANSWER-Question, design, findings, publishing True Experiment - ANSWER-designs in which the researcher manipulates ALL independent variables; total control over who's in what group Quasi Experimental Design - ANSWER-designs in which random assignments cannot be used Quas...
A well-conceived business plan benefits which 2 groups the most. - ANSWER-Investors and Owner A landscape architect wishes to start his own business constructing custom water features. This is his first venture and requires assistance drafting a business plan, securing capital, and receiving over...
Preview 1 out of 2 pages
Add to cartA well-conceived business plan benefits which 2 groups the most. - ANSWER-Investors and Owner A landscape architect wishes to start his own business constructing custom water features. This is his first venture and requires assistance drafting a business plan, securing capital, and receiving over...
Online Networking - ANSWER-Each day, Donnie posts the progress of her new building to Facebook as a countdown to opening her business. What type of networking is Donnie using? Increase of service - ANSWER-Ophelia discovers her competitor's turnaround time is double her turnaround time. What shou...
Preview 2 out of 15 pages
Add to cartOnline Networking - ANSWER-Each day, Donnie posts the progress of her new building to Facebook as a countdown to opening her business. What type of networking is Donnie using? Increase of service - ANSWER-Ophelia discovers her competitor's turnaround time is double her turnaround time. What shou...
A well-conceived plan benefits which 2 groups the most? - ANSWER-Owners, Investors A landscape architect wishes to start his own business constructing custom water features. This is his first venture and requires assistance drafting a business plan, securing capital, and receiving overall general...
Preview 1 out of 1 pages
Add to cartA well-conceived plan benefits which 2 groups the most? - ANSWER-Owners, Investors A landscape architect wishes to start his own business constructing custom water features. This is his first venture and requires assistance drafting a business plan, securing capital, and receiving overall general...
Break Even Formula - ANSWER-To calculate the break-even point in units use the formula: Break-Even point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin. Driving ...
Preview 1 out of 3 pages
Add to cartBreak Even Formula - ANSWER-To calculate the break-even point in units use the formula: Break-Even point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin. Driving ...
True or False: A sales presentation aims to close a sale - ANSWER-False True or False: Prospecting is following up with customers - ANSWER-False True or False: Overcoming customer objections occurs before the sales presentation - ANSWER-False Which two types of information does an income st...
Preview 1 out of 3 pages
Add to cartTrue or False: A sales presentation aims to close a sale - ANSWER-False True or False: Prospecting is following up with customers - ANSWER-False True or False: Overcoming customer objections occurs before the sales presentation - ANSWER-False Which two types of information does an income st...
Which two documents summarize the business plan of a company? - ANSWER-Pitch Deck, Lean Canvas Which three elements are required to have a Trade Secret? - ANSWER-Others cannot legitimately obtain the information, information has economic value not generally known, subject to reasonable efforts to...
Preview 1 out of 2 pages
Add to cartWhich two documents summarize the business plan of a company? - ANSWER-Pitch Deck, Lean Canvas Which three elements are required to have a Trade Secret? - ANSWER-Others cannot legitimately obtain the information, information has economic value not generally known, subject to reasonable efforts to...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller papersmaster01. Stuvia facilitates payment to the seller.
No, you only buy these notes for CA$51.48. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now