ESB V.2 EXAM 2 2025 WITH 100% ACCURATE
SOLUTIONS
In general, which two characteristics define a "small" business? (Choose
two) - Precise Answer ✔✔Fewer then 1,500 employees
AND
Less than $35.5 million revenue
Classify each of the following businesses as either Physical or Digital. -
Precise Answer ✔✔Physical:
- Bakery in your community
- Hair salon that makes appointments online
Digital:
- 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? - Precise
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. - Precise Answer ✔✔COO: Oversees the day-to-day
administrative functions of a business; second in command.
CIO: Develops policies and structures to protect company data.
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? - Precise 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. - Precise Answer ✔✔Maturity: The business is separate from
the owner with responsibilities delegated to staff. A business in this
stage usually commands a considerable share of the market and may
even be a household name.
Success: Company is stable and profitable.
Takeoff: Expansion strategies are implemented, and investment is
balanced with potential.
Survival of the Fittest: Focus shifts to revenue, expenses, and growth.
Cashflow is the major issue.
Existence: The business introduces itself to the market and attempts to
catch the attention of potential customers.
For each statement about the Design Thinking Process, select True or
False. - Precise Answer ✔✔True:
- Assumptions are challenged and ideas are created in the Ideate phase.
- Problem statements are written in the Define phase.
False:
SOLUTIONS
In general, which two characteristics define a "small" business? (Choose
two) - Precise Answer ✔✔Fewer then 1,500 employees
AND
Less than $35.5 million revenue
Classify each of the following businesses as either Physical or Digital. -
Precise Answer ✔✔Physical:
- Bakery in your community
- Hair salon that makes appointments online
Digital:
- 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? - Precise
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. - Precise Answer ✔✔COO: Oversees the day-to-day
administrative functions of a business; second in command.
CIO: Develops policies and structures to protect company data.
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? - Precise 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. - Precise Answer ✔✔Maturity: The business is separate from
the owner with responsibilities delegated to staff. A business in this
stage usually commands a considerable share of the market and may
even be a household name.
Success: Company is stable and profitable.
Takeoff: Expansion strategies are implemented, and investment is
balanced with potential.
Survival of the Fittest: Focus shifts to revenue, expenses, and growth.
Cashflow is the major issue.
Existence: The business introduces itself to the market and attempts to
catch the attention of potential customers.
For each statement about the Design Thinking Process, select True or
False. - Precise Answer ✔✔True:
- Assumptions are challenged and ideas are created in the Ideate phase.
- Problem statements are written in the Define phase.
False:
