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ESB v.2 Domain 1 Entrepreneurship & Small Business Concepts correctly answered
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ESB v.2 Domain 1 Entrepreneurship & Small Business Concepts correctly answered
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ESB v.2 Domain 1 Entrepreneurship &Small Business Concepts
B2B - correct answer ✔✔A business-to-business (B2B) commercial transaction between businesses
B2C - correct answer ✔✔A business-to-consumer (B2C) transaction
Brand recognition - correct answer ✔✔The level of familiarity one has with a brand
Business Opportunity - correct answer ✔✔A situation an entrepreneur analyzes and evaluates to see if
starting a sustainable, profitable business is feasible
Business Plan - correct answer ✔✔A document that addresses the concept, customers, and capital for a
business
C Corporation - correct answer ✔✔A C corporation is a legal structure for a corporation in which the
owners, or shareholders, are taxed separately from the entity. C corporations are also subject to
corporate income taxation. The taxing of profits from the business is at both corporate and personal
levels, creating a double taxation situation.
CEO - correct answer ✔✔The Chief Executive Officer (CEO) holds a leadership role within a business. The
CEO oversees a business's operations and resources and makes the major decisions for the company.
CFO - correct answer ✔✔The Chief Financial Officer (CFO) holds a leadership role within a business. The
CFO oversees a company's finances.
Collaboration - correct answer ✔✔The action of working with one or more people toward a common
goal.
Commission - correct answer ✔✔A fee paid to an employee for completing a task.
, Compensation - correct answer ✔✔A monetary amount given to employees in return for their work.
Confidentiality Agreement - correct answer ✔✔A signed agreement stating that an entity will not
disclose information agreed upon by all parties in an arrangement.
Contract - correct answer ✔✔An agreement between an employee and a company outlining obligations
and terms of employment.
COO - correct answer ✔✔The Chief Operating Officer (COO) holds a leadership role within a business.
The COO is responsible for overseeing the day-to-day administrative and operational functions of a
business.
Copyright - correct answer ✔✔A form of protection individuals can implement to protect their
intellectual property. Copyright is designated for print, music, film, and various other forms of creative
licenses.
Critical Thinking - correct answer ✔✔Using one's mind to solve a problem in the best way by considering
various potential solutions to the problem.
Customer - correct answer ✔✔An individual or business that purchases goods and services from a
business.
Employee - correct answer ✔✔An individual hired by a company and compensated for their work.
Entrepreneur - correct answer ✔✔An individual who aspires to start and run a successful business.
Willing to explore new opportunities and unknown risks.
Equity - correct answer ✔✔Non-cash compensations offered to employees in place of or in addition to a
lower salary.
Ethical Practices - correct answer ✔✔Standards of professional conduct professionals should uphold.
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