Esb exam stuvia 2023 - Guides d'étude, Notes de cours & Résumés

Flexibility - ANSWER-Ability to adapt, willingness to change Courage - ANSWER-Takes risks in spite of possible losses Empathy - ANSWER-Sensitive to thoughts and feelings of others What are three characteristics of entrepreneurs? - ANSWER-Creativity, Determination, Enthusiasm After a self-assessment, a potential entrepreneur has learned that she has a very low risk tolerance. Based upon this finding, which approach might be less stressful for the entrepreneur to have her own business?...

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 should Ophelia's new marketing strategy be to woo back her customers? Which three things are defined when doing a self-assessment? - ANSWER-Risk tolerance, strengths, and weaknesses Which descripti...

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 legal structure should you set up for your business? - ANSWER-S-Corporation For each statement about owners of equity in a business, select true or false. - ANSWER-True Founders own equity. partne...

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...

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 wants to make 25%. What should her selling price be? - ANSWER-$87,500 TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - ANSWER-True Equipment is considered ... - ANSWER-a long term a...

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 products to the end customers. Idea - ANSWER-The first stage of the product/market fit is the ________ stage. prototype - ANSWER-The second stage of the product/market fit is the ________ stage. ...

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. C Corporation - ANSWER-A business structure that allows the company to pass its income, losses, deductions, and credits through its shareholders to decrease their taxation. variable costs - ANSWER-fl

What is entrepreneurship? - ANSWER-Setting up a business with the aim to make a profit. B2B - ANSWER-Purchases requiring a tax exemption certificate; wholesale flooring distributor B2C - ANSWER-motorcycle repair shop; chain of local grocery stores S - Corporation - ANSWER-offers many of the same benefits as a c corporation, but better for small businesses. 100 shareholders maximum allowed. all must be US citizens or residents. shareholders are not personally responsible for business lia...

Which two documents summarize the business plan of a company? - ANSWER-Pitch Deck, Lean Canvas Which three elements are required to have a Trade Secret? - ANSWER-Others cannot legitimately obtain the information, information has economic value not generally known, subject to reasonable efforts to maintain its secrecy Your company manufactures 72 hour emergency kits and sells them for a low profit margin. You want to expand your customer base to increase your sales volume, but you have a li...

C Corporation - ANSWER-Double taxed, shareholders and corporation, great for international businesses S Corporation - ANSWER-Lower tax, pay on personal income only, like the C corporation but for smaller businesess. LLC - ANSWER-great for individuals with low risks nonprofit organization - ANSWER-owned by no one, no tax paid HUD - ANSWER-Help America's housing