ESB PRACTICE TEST QUESTIONS AND
ANSWERS
T/F Trademark licensing is used for brand names, logos, and slogans - Answer:
True.
This chapter outlines the benefits to customers based on their goals, needs, and
how they utilise the product. ANSWER Behavioural
T/F Trade secret licensing must be registered with the government. - True.
T/F The design thinking process emphasises establishing consumer empathy.
T/F The design thinking approach tries to discover solutions for challenges. -
Answer: True.
You wish to buy a gift shop in a popular area of a large town. Which three
variables will assist you decide whether the business opportunity is viable? -
ANSWER: Financing requirements.
- Revenue and costs
- Market Size.
T/F Affiliate sales systems pay commissions to companies who sell their items -
ANSWER: True
Which marketing platforms are examples of owned media? - Websites and
blogs
What exactly does a CFO (chief financial officer) do? - ANSWER Creates
budgets and financial plans (CEO, CIO, and COO).
Direct distribution offers two services that fulfilment centres do not: ANSWER:
Product Marketing and Manufacturing.
, T/F The design thinking method strives to build a product that meets the
designer's needs. - Answer: False
T/F Fixed costs are expenses that must be paid by the company regardless of
fluctuations in revenue. - ANSWER True
T/F An S corporation is suited for internal companies with at least 100
shareholders.
T/F Variable cost depends on the rise or reduction in the number of services or
products sold - ANSWER True
T/F Value engineering alters the purpose of the product - ANSWER False
What is the first step in developing a product/market fit hypothesis? -
ANSWER: Determine who the target customer is.
You should invest in a business with straightforward transactions, cheap
inventory costs, and fast, free product delivery. A firm that sells digital
products.
T/F A non-profit organisation is taxed - ANSWER False.
T/F Is copyright licensing required for material in the public domain? - False.
You need to conduct a SWOT analysis. What are the *internal* elements that
influence your business? - ANSWER - Strengths and Weakness
You need money to launch your business. You have a few ideas for your
business. You are looking for mentorship and are willing to give up some equity
in your company. What form of funding should you seek? - ANSWER: Angel
Investor.
T/F True or False: Taking on business debt is a requirement for
entrepreneurship.
ANSWERS
T/F Trademark licensing is used for brand names, logos, and slogans - Answer:
True.
This chapter outlines the benefits to customers based on their goals, needs, and
how they utilise the product. ANSWER Behavioural
T/F Trade secret licensing must be registered with the government. - True.
T/F The design thinking process emphasises establishing consumer empathy.
T/F The design thinking approach tries to discover solutions for challenges. -
Answer: True.
You wish to buy a gift shop in a popular area of a large town. Which three
variables will assist you decide whether the business opportunity is viable? -
ANSWER: Financing requirements.
- Revenue and costs
- Market Size.
T/F Affiliate sales systems pay commissions to companies who sell their items -
ANSWER: True
Which marketing platforms are examples of owned media? - Websites and
blogs
What exactly does a CFO (chief financial officer) do? - ANSWER Creates
budgets and financial plans (CEO, CIO, and COO).
Direct distribution offers two services that fulfilment centres do not: ANSWER:
Product Marketing and Manufacturing.
, T/F The design thinking method strives to build a product that meets the
designer's needs. - Answer: False
T/F Fixed costs are expenses that must be paid by the company regardless of
fluctuations in revenue. - ANSWER True
T/F An S corporation is suited for internal companies with at least 100
shareholders.
T/F Variable cost depends on the rise or reduction in the number of services or
products sold - ANSWER True
T/F Value engineering alters the purpose of the product - ANSWER False
What is the first step in developing a product/market fit hypothesis? -
ANSWER: Determine who the target customer is.
You should invest in a business with straightforward transactions, cheap
inventory costs, and fast, free product delivery. A firm that sells digital
products.
T/F A non-profit organisation is taxed - ANSWER False.
T/F Is copyright licensing required for material in the public domain? - False.
You need to conduct a SWOT analysis. What are the *internal* elements that
influence your business? - ANSWER - Strengths and Weakness
You need money to launch your business. You have a few ideas for your
business. You are looking for mentorship and are willing to give up some equity
in your company. What form of funding should you seek? - ANSWER: Angel
Investor.
T/F True or False: Taking on business debt is a requirement for
entrepreneurship.
