GUARANTEED ACCURATE
ANSWERS
In general, which two characteristics define a "small" business? (Choose
two) - ACCURATE ANSWERS✔✔ -Fewer than 1,500 employees
-Less than $35.5 million revenue
Classify each other the following businesses as either Physical or
Digital. - ACCURATE ANSWERS✔✔ 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? - ACCURATE
ANSWERS✔✔ 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. - ACCURATE ANSWERS✔✔ The highest ranking employee
in the company; reports to the board of directors. CEO
Creates budgets, analyzes financial data, and forecasts company profits.
CFO
Develops policies and structures to protect company data. CIO
Oversees the day-to-day administrative functions of a business; second
in command. COO
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? - ACCURATE ANSWERS✔✔ Salary and 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. - ACCURATE ANSWERS✔✔ The business is separate from
the owner with responsibilities delegated to staff. A business in this stage