ESB Test DOS
In general, which two characteristics define a "small" business? (Choose two)
- correct answer ✔-Fewer than 1,500 employees
-Less than $35.5 million revenue
Classify each other the following businesses as either Physical or Digital. -
correct 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? - correct 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. - correct answer ✔The highest ranking employee in the company;
reports to the board of directors. CEO
Creates budgets, analyzes financial data, and forecasts company profits. CFO
Develops policies and structures to protect company data. CIO
, Oversees the day-to-day administrative functions of a business; second in
command. COO
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? - correct answer ✔Salary and 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. - correct answer ✔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.
MATURITY
Company is stable and profitable. SUCCESS
Expansion strategies are implemented, and investment is balanced with
potential. TAKEOFF
Focus shifts to revenue, expenses, and growth. Cashflow is the major issue.
SURVIVAL OF THE FITTEST
The business introduces itself to the market and attempts to catch the
attention of potential customers. EXISTENCE
In general, which two characteristics define a "small" business? (Choose two)
- correct answer ✔-Fewer than 1,500 employees
-Less than $35.5 million revenue
Classify each other the following businesses as either Physical or Digital. -
correct 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? - correct 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. - correct answer ✔The highest ranking employee in the company;
reports to the board of directors. CEO
Creates budgets, analyzes financial data, and forecasts company profits. CFO
Develops policies and structures to protect company data. CIO
, Oversees the day-to-day administrative functions of a business; second in
command. COO
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? - correct answer ✔Salary and 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. - correct answer ✔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.
MATURITY
Company is stable and profitable. SUCCESS
Expansion strategies are implemented, and investment is balanced with
potential. TAKEOFF
Focus shifts to revenue, expenses, and growth. Cashflow is the major issue.
SURVIVAL OF THE FITTEST
The business introduces itself to the market and attempts to catch the
attention of potential customers. EXISTENCE
