ESB CERTIFICATION EXAM REAL STUDY GUIDE
EXAM NEWEST 2025 VERSION COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Save
Terms in this set (234)
Domain 1 Lesson 1
The key objective of a profits
small business owner is to
generate ____
Entrepreneurs are willing risks
to take on new
opportunities and
unknown ____ to grow their
businesses rapidly
Tangible items that require physical
pick-up or delivery are ____
products
When a ____ purchases an customer
item from a business, it is a
business-to-consumer
transaction
____ are for-profit S corporations
corporations with limited
liability
,____ are ideal for C corporations
international businesses
The ____ oversees daily Chief Operating Officer
operational and
administrative functions
A ____ votes on the stockholder
management of a
company
____ employees are paid a Salary
fixed amount each pay
period
Businesses can piece work
compensate employees
for work they produce
when being paid by ____
Businesses can offer ____ in equity
addition to a lower salary
During the ____ stage of the survival
business life cycle, a
company is regularly
taking on new customers
and starting to generate a
consistent income
The owner may decide to exit plan
sell their ownership in the
company during the ____
stage
The five elements of the empathize, define, ideate, prototype , and test
design thinking process
are ____
____ allows one to see and Empathy
experience a customer's
perspective
, The design team creates Minimum Viable Products
multiple inexpensive
versions of a product,
known as ____
Name benefits of a less risk involved, tested operational processes, or
franchise recognized brands
No ownership, no US Non-profit
federal taxes
Best for international C corporation
business even with being
double-taxed
Easy to create but comes Sole proprietorship
with unlimited liability
Lower tax rate that S corporation
prevents the company
from being double-taxed
Ideal for a single owner LLC (limited liability company)
seeking low risk
Shared financial backing Partnership
Creates the company Founder
Oversees company CFO
finances
Owns stock in the Stockholder
company
Reports to the board of CEO
directors
EXAM NEWEST 2025 VERSION COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+
Save
Terms in this set (234)
Domain 1 Lesson 1
The key objective of a profits
small business owner is to
generate ____
Entrepreneurs are willing risks
to take on new
opportunities and
unknown ____ to grow their
businesses rapidly
Tangible items that require physical
pick-up or delivery are ____
products
When a ____ purchases an customer
item from a business, it is a
business-to-consumer
transaction
____ are for-profit S corporations
corporations with limited
liability
,____ are ideal for C corporations
international businesses
The ____ oversees daily Chief Operating Officer
operational and
administrative functions
A ____ votes on the stockholder
management of a
company
____ employees are paid a Salary
fixed amount each pay
period
Businesses can piece work
compensate employees
for work they produce
when being paid by ____
Businesses can offer ____ in equity
addition to a lower salary
During the ____ stage of the survival
business life cycle, a
company is regularly
taking on new customers
and starting to generate a
consistent income
The owner may decide to exit plan
sell their ownership in the
company during the ____
stage
The five elements of the empathize, define, ideate, prototype , and test
design thinking process
are ____
____ allows one to see and Empathy
experience a customer's
perspective
, The design team creates Minimum Viable Products
multiple inexpensive
versions of a product,
known as ____
Name benefits of a less risk involved, tested operational processes, or
franchise recognized brands
No ownership, no US Non-profit
federal taxes
Best for international C corporation
business even with being
double-taxed
Easy to create but comes Sole proprietorship
with unlimited liability
Lower tax rate that S corporation
prevents the company
from being double-taxed
Ideal for a single owner LLC (limited liability company)
seeking low risk
Shared financial backing Partnership
Creates the company Founder
Oversees company CFO
finances
Owns stock in the Stockholder
company
Reports to the board of CEO
directors
