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 that...
ESB V.2 EXAM 2 questions with correct
answers
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 that makes appointments online
Digital:
- Online store that dropships camping gear
- Bookstore on Amazon that sells eBooks
You need to create a legal structure for your small business. You have plans for it
to grow and hope in the future to sell shares to the public. Your startup partners are
citizens of Mexico and Japan. You do not want to be personally responsible for
business liabilities.
Which legal structure should you set up for your business? - Answer C-
Corporation
Match each business management role to its corresponding description.
, To answer, move each role from the list on the left to its description on the right. -
Answer COO: Oversees the day-to-day administrative functions of a business;
second in command.
CIO: Develops policies and structures to protect company data.
CFO: Creates budgets, analyzes financial data, and forecasts company profits.
CEO: The highest-ranking employee in the company; reports to the board of
directors.
You own a lawn care business. You have employees who work long hours laboring
in good weather, often exceeding 40 hours per week. They also work short hours
when the weather is bad, sometimes they can't work at all. You do all of the sales
for your business.
Which two types of compensation would be appropriate for these landscape
employees? - Answer Salary & Hourly
Match each Stage of the Business Life Cycle to its corresponding description.
To answer, move each stage from the list on the left to its description on the right. -
Answer Maturity: The business is separate from the owner with responsibilities
delegated to staff. A business in this stage usually commands a considerable share
of the market and may even be a household name.
Success: Company is stable and profitable.
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