Gmetrix Marketing Final Test Questions
with Certified Solutions
What is Entrepreneurship?
• Marketing and selling products.
• Acquiring leadership and managerial skills.
• Setting up a business with the aim to make a profit.
• Quickly advancing in positions within a corporation ✔✔• 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?
• S-Corporation
• Limited Liability Company
• Sole Proprietorship
• C- Corporation ✔✔• S-Corporation
,Place the stages of the business life cycle in the correct order.
Move all of the stages to the answer area and place them in the correct order.
Note: You will receive partial credit for each correct answer. ✔✔Stage 1 Existence
Stage 2 Survival of the Fittest
Stage 3 Success
Stage 4 Take-off
Stage 5 Manurity
Match each Element of the Design Thinking Process to its corresponding description.
To answer, move each element from the list on the left to its description on the right .
Note: You will receive partial credit for each correct answer . ✔✔Research your users' needs -
Empathize
State Your Users' Needs and Problems - Define
Challenge Assumptions and Create Ideas - Ideate
Create Solutions - Prototype
Try Your Solutions - Test
In general, which two characteristics define a "small" business ? (Choose two )
,• Between 500 and 2,500 employees
• No more than $200,000 in sales
• Less than $35.5 million revenue
• Non-profit
• Fewer than 1, 500 employees ✔✔• Less than $35.5 million revenue
• Fewer than 1, 500 employees
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?
• S- Corporation
• C- Corporation
• Sole Proprietorship
• Limited Liability Company ✔✔• 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. ✔✔• (CEO)
The highest -ranking employee in the companyreports to the board of directors.
, • (CFO ) Creates budgets , analyzes financial data , and forecasts company profits .
• (CIO) Develops policies and structures to protect company data .
• (COO) Oversees the day -to-day administrative functions of a business ; second in command .
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?
• Salary
• Commission
• Piece work
• Equity
• Hourly ✔✔• 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. ✔✔• Maturity
- The business is separate from the owner with responsibilities delegated to staff . A business in
with Certified Solutions
What is Entrepreneurship?
• Marketing and selling products.
• Acquiring leadership and managerial skills.
• Setting up a business with the aim to make a profit.
• Quickly advancing in positions within a corporation ✔✔• 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?
• S-Corporation
• Limited Liability Company
• Sole Proprietorship
• C- Corporation ✔✔• S-Corporation
,Place the stages of the business life cycle in the correct order.
Move all of the stages to the answer area and place them in the correct order.
Note: You will receive partial credit for each correct answer. ✔✔Stage 1 Existence
Stage 2 Survival of the Fittest
Stage 3 Success
Stage 4 Take-off
Stage 5 Manurity
Match each Element of the Design Thinking Process to its corresponding description.
To answer, move each element from the list on the left to its description on the right .
Note: You will receive partial credit for each correct answer . ✔✔Research your users' needs -
Empathize
State Your Users' Needs and Problems - Define
Challenge Assumptions and Create Ideas - Ideate
Create Solutions - Prototype
Try Your Solutions - Test
In general, which two characteristics define a "small" business ? (Choose two )
,• Between 500 and 2,500 employees
• No more than $200,000 in sales
• Less than $35.5 million revenue
• Non-profit
• Fewer than 1, 500 employees ✔✔• Less than $35.5 million revenue
• Fewer than 1, 500 employees
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?
• S- Corporation
• C- Corporation
• Sole Proprietorship
• Limited Liability Company ✔✔• 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. ✔✔• (CEO)
The highest -ranking employee in the companyreports to the board of directors.
, • (CFO ) Creates budgets , analyzes financial data , and forecasts company profits .
• (CIO) Develops policies and structures to protect company data .
• (COO) Oversees the day -to-day administrative functions of a business ; second in command .
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?
• Salary
• Commission
• Piece work
• Equity
• Hourly ✔✔• 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. ✔✔• Maturity
- The business is separate from the owner with responsibilities delegated to staff . A business in
