ESB Exam One (GMETRIX)( Entrepreneurship and Small Business Study Set)2023

ESB Exam One (GMETRIX)( Entrepreneurship and Small Business Study Set)2023 What is Entrepreneurship? A) Marketing and selling products. B) Setting up a business with the aim to make a profit. C) Acquiring leadership and managerial skills. D) Quickly advancing in positions within a corporation. B) Setting up a business with the aim to make a profit. You need to create a legal structure for your small business. You would like some of the benefits enjoyed by large corporations, but do not want to be taxed twice. You have four partners who will be shareholders. None of you plan to sell your ownership shares to the public, but do want to be protected from business liabilities. Which legal structure should you set up for your business? A) Sole Proprietorship B) C-Corporation C) Limited Liability Company D) S-Corporation D) S-Corporation Which is one of the greatest benefits of being an entrepreneur? A) B) C) D) Schedule control The owner of a landscaping business has notified that none of his competitors are including ponds or other water features in the gardens they create. The landscaper wants to determine the viability of this business opportunity. What should this entrepreneur do FIRST before offering to design and build water features as part of his landscaping business? A) B) C) D) Ask the customers in the area if they are interested in adding a water feature to their gardens. What is a Target Market?