Exam (elaborations)
ESB Certification Exam Study Guide questions with correct answers
- Course
- Institution
ESB Certification Exam Study Guide questions with correct answers
[Show more]
Seller
Follow
BillRanker
Reviews received
Content preview
ESB Certification Exam Study Guidequestions with correct answers
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 ____ products - Answer
physical
When a ____ purchases an item from a business, it is a business-to-consumer
transaction - Answer customer
____ are for-profit corporations with limited liability - Answer S corporations
____ are ideal for international businesses - Answer C corporations
The ____ oversees daily operational and administrative functions - Answer Chief
Operating Officer
A ____ votes on the management of a company - Answer stockholder
____ employees are paid a fixed amount each pay period - Answer Salary
,Businesses can compensate employees for work they produce when being paid by
____ - Answer piece work
Businesses can offer ____ in addition to a lower salary - Answer equity
During the ____ stage of the business life cycle, a company is regularly taking on
new customers and starting to generate a consistent income - Answer survival
The owner may decide to sell their ownership in the company during the ____
stage - Answer exit plan
The five elements of the design thinking process are ____ - Answer empathize,
define, ideate, prototype , and test
____ allows one to see and experience a customer's perspective - Answer Empathy
The design team creates multiple inexpensive versions of a product, known as
____ - Answer Minimum Viable Products
Name benefits of a franchise - Answer less risk involved, tested operational
processes, or recognized brands
No ownership, no US federal taxes - Answer Non-profit
Best for international business even with being double-taxed - Answer C
corporation
Easy to create but comes with unlimited liability - Answer Sole proprietorship
, Lower tax rate that prevents the company from being double-taxed - Answer S
corporation
Ideal for a single owner seeking low risk - Answer LLC (limited liability company)
Shared financial backing - Answer Partnership
Creates the company - Answer Founder
Oversees company finances - Answer CFO
Owns stock in the company - Answer Stockholder
Reports to the board of directors - Answer CEO
Oversees daily operational and administrative functions Stakeholder Has a vested
interest in the success of the company - Answer COO
Has a vested interest in the success of the company - Answer Stakeholder
Non-cash compensation - Answer Equity
Set rate of pay for hours worked - Answer Hourly
Usually found in sales roles - Answer Commission
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
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!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
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.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BillRanker. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79271 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now