ESB Certification Bundle Test

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...

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...

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...

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...

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...

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...

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.

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...

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...

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 ...

B2B - Answer A business-to-business (B2B) commercial transaction between businesses B2C - Answer A business-to-consumer (B2C) transaction Brand recognition - Answer The level of familiarity one has with a brand Business Opportunity - Answer A situation an entrepreneur analyzes and evaluates...

Break Even Point - Answer the point at which the costs of producing a product equal the revenue made from selling the product Break Even Formula - Answer Break Even Point = Fixed Costs/Selling Price-Variable Cost Driving Sales - Answer a special effort to sell more of a product or service, for...

Partners - Answer members of a company who share the risks and profits of the business Franchise - Answer A business that takes its name and characteristics from an existing business chain Stakeholder - Answer An individual with an interest in a business Prototype - Answer A preliminary pro...

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...