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ESB V Question and answers rated A+ 2024
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ESB V Question and answers rated A+ 2024 What is Entrepreneurship? - correct answer Setting up a business with the aim to make a profit. You've been asked to classify several businesses as either B2B or B2C. For each business, select B2B or B2C. Note: You will receive partial credit fo...

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  • August 23, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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ESB V.2 EXAM 1
What is Entrepreneurship? - correct answer ✔Setting up a business with the
aim to make a profit.


You've been asked to classify several businesses as either B2B or B2C.


For each business, select B2B or B2C.


Note: You will receive partial credit for each correct answer. - correct answer
✔B2B:
- Wholesale flooring distributor
- Purchases requiring a tax exemption


B2C:
- Chain of local grocery stores
- Motorcycle repair shop


You need to create a legal structure for your small business. You would like
some of the benefits enjoyed by large corporations, but do not want to be
taxed twice. You will have four partners who will be shareholders. None of you
plan to sell your ownership shares to the public, but do want to be protected
from business liabilities.


Which legal structure should you set up for your business? - correct answer
✔S-Corporation

, For each statement about owners of equity in a business, select True or
False.


Note: You will receive partial credit for each correct answer. - correct answer
✔True:
- A partner owns equity.
- Founders own equity.


False:
- All stakeholder owns equity.
- Contractors own equity.


Complete the sentence about company roles and responsibilities by selecting
the correct option from each drop-down list.


Note: You will receive partial credit for each correct selection.


An example of _____ compensation is paying field laborers for the amount of
fruit they pick.


A _____ employee receives a set amount of pay each month without overtime
compensation for extra hours worked.


Employees most affected by minimum wage laws are compensated _____.


An employee who is paid a percentage of a sale is paid by _____. - correct
answer ✔Blank 1: Piece Work

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