ESB Domain 1 Review Exam Questions
With Correct Answers
Partners |- |CORRECT |ANSWER✔✔-members |of |a |company |who |share |the |risks |and |profits |of |
the |business
Franchise |- |CORRECT |ANSWER✔✔-A |business |that |takes |its |name |and |characteristics |from |an |
existing |business |chain
Stakeholder |- |CORRECT |ANSWER✔✔-An |individual |with |an |interest |in |a |business
Prototype |- |CORRECT |ANSWER✔✔-A |preliminary |product, |commonly |a |product |with |minimum
|viability, |from |which |to |test |and |develop
Service |- |CORRECT |ANSWER✔✔-an |intangivle |service |or |skill |that |is |performed
Equity |- |CORRECT |ANSWER✔✔-Non-cash |compensations |offered |to |employees |in |place |of |or |
in |addition |to |a |lower |salary
Stockholder |- |CORRECT |ANSWER✔✔-An |owner |of |one |or |more |shares |of |a |corporation
Small |Business |- |CORRECT |ANSWER✔✔-A |corporation, |partnership, |or |sole |proprietorship |that
|is |privately |owned |by |one |indivudal |or |a |small |group |of |people.
Salary |- |CORRECT |ANSWER✔✔-A |fixed |amount |of |money |paid |to |an |employee |for |each |pay |
period.
Product |- |CORRECT |ANSWER✔✔-A |tangible |item
, Commission |- |CORRECT |ANSWER✔✔-A |fee |paid |to |an |employee |for |completing |a |task
B2B |- |CORRECT |ANSWER✔✔-A |business |to |business |commercial |transaction |between |
businesses
Sole |Proprietorship |- |CORRECT |ANSWER✔✔-a |business |owned |and |managed |by |a |single |
individual. |There |is |unlimited |liability.
Compensation |- |CORRECT |ANSWER✔✔-A |monetary |amount |given |to |employees |in |return |for |
their |work
S |Corporation |- |CORRECT |ANSWER✔✔-a |type |of |business |that |offers |limited |liability |like |a |
corporation |and |single |taxation |like |a |partnership, |but |no |foreign |investors |are |allowed
Hourly |Pay |- |CORRECT |ANSWER✔✔-payment |for |services |rendered |based |on |the |number |of |
hours |worked
Piece |work |- |CORRECT |ANSWER✔✔-a |worker |paid |a |fixed |rate |for |each |unit |produced
CFO |- |CORRECT |ANSWER✔✔-The |chief |financial |officer |is |responsible |for |a |business's |finances.
B2C |- |CORRECT |ANSWER✔✔-the |process |in |which |businesses |sell |to |consumers
COO |- |CORRECT |ANSWER✔✔-Chief |Operating |Officer |is |responsible |for |seeing |the |day |to |day |
administrative |and |operational |functions.
With Correct Answers
Partners |- |CORRECT |ANSWER✔✔-members |of |a |company |who |share |the |risks |and |profits |of |
the |business
Franchise |- |CORRECT |ANSWER✔✔-A |business |that |takes |its |name |and |characteristics |from |an |
existing |business |chain
Stakeholder |- |CORRECT |ANSWER✔✔-An |individual |with |an |interest |in |a |business
Prototype |- |CORRECT |ANSWER✔✔-A |preliminary |product, |commonly |a |product |with |minimum
|viability, |from |which |to |test |and |develop
Service |- |CORRECT |ANSWER✔✔-an |intangivle |service |or |skill |that |is |performed
Equity |- |CORRECT |ANSWER✔✔-Non-cash |compensations |offered |to |employees |in |place |of |or |
in |addition |to |a |lower |salary
Stockholder |- |CORRECT |ANSWER✔✔-An |owner |of |one |or |more |shares |of |a |corporation
Small |Business |- |CORRECT |ANSWER✔✔-A |corporation, |partnership, |or |sole |proprietorship |that
|is |privately |owned |by |one |indivudal |or |a |small |group |of |people.
Salary |- |CORRECT |ANSWER✔✔-A |fixed |amount |of |money |paid |to |an |employee |for |each |pay |
period.
Product |- |CORRECT |ANSWER✔✔-A |tangible |item
, Commission |- |CORRECT |ANSWER✔✔-A |fee |paid |to |an |employee |for |completing |a |task
B2B |- |CORRECT |ANSWER✔✔-A |business |to |business |commercial |transaction |between |
businesses
Sole |Proprietorship |- |CORRECT |ANSWER✔✔-a |business |owned |and |managed |by |a |single |
individual. |There |is |unlimited |liability.
Compensation |- |CORRECT |ANSWER✔✔-A |monetary |amount |given |to |employees |in |return |for |
their |work
S |Corporation |- |CORRECT |ANSWER✔✔-a |type |of |business |that |offers |limited |liability |like |a |
corporation |and |single |taxation |like |a |partnership, |but |no |foreign |investors |are |allowed
Hourly |Pay |- |CORRECT |ANSWER✔✔-payment |for |services |rendered |based |on |the |number |of |
hours |worked
Piece |work |- |CORRECT |ANSWER✔✔-a |worker |paid |a |fixed |rate |for |each |unit |produced
CFO |- |CORRECT |ANSWER✔✔-The |chief |financial |officer |is |responsible |for |a |business's |finances.
B2C |- |CORRECT |ANSWER✔✔-the |process |in |which |businesses |sell |to |consumers
COO |- |CORRECT |ANSWER✔✔-Chief |Operating |Officer |is |responsible |for |seeing |the |day |to |day |
administrative |and |operational |functions.
