ESB V.2 EXAM 2 2024/2025 Exam
Questions and Detailed Answers | Get it
100% 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:
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PRIVACY STATEMENT. ALL RIGHTS RESERVED
,- 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.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
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PRIVACY STATEMENT. ALL RIGHTS RESERVED
, 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
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
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PRIVACY STATEMENT. ALL RIGHTS RESERVED
Questions and Detailed Answers | Get it
100% 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:
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
,- 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.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, 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
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
3
PRIVACY STATEMENT. ALL RIGHTS RESERVED
