ESB PRACTICE TEST QUESTIONS WITH CORRECT ANSWERS |LATEST UPDATE
100% SOLVED| GRADED A+
True or false
a.Business longevity increases potential funding opportunities
b.Lenders require business owners to identify the purpose of the loan
c.The business owner's personal credit score does not affect their ability to qualify for a loan
-True
-True
-Flase
Complete a SWOT analysis for your business based on the following information
a.Improving economy
b.Lack of expertise in some areas
c.Low overhead cost
d.Rising cost of product parts a.Improving economy- strengths
b.Lack of expertise in some areas - weakness
c.Low overhead cost - opportunities
d.Rising cost of product parts - threat
Match each compensation type to its corresponding description
, a.Commission - an employee who receives payment after completing a sale b.Hourly - an
employee who receives overtime pay for working extra hours
c.Piece work - an employee who receives a set amount for each unit created d.Salary - an
employee who receives a set wage each week without overtime pay for extra time ANSWER
ON FRONT
True or False
a.For a franchise opportunity, you will receive ongoing support from larger companies
b.For a personal business opportunity, you will generally have lower start-up costs than
opening a franchise
c.For a personal business opportunity, you will be required to go through more intensive
training than for a franchise opportunity
d.For a franchise opportunity, you will be able to purchase the items you believe will sustain
your business without having to ask for permission. a.For a franchise opportunity, you will
receive ongoing support from larger companies - True
b.For a personal business opportunity, you will generally have lower start-up costs than
opening a franchise - False
c.For a personal business opportunity, you will be required to go through more intensive
training than for a franchise opportunity - True
d.For a franchise opportunity, you will be able to purchase the items you believe will sustain
your business without having to ask for permission. - False
True or false
a.Using licensed materials typically involves paying a one-time fee
100% SOLVED| GRADED A+
True or false
a.Business longevity increases potential funding opportunities
b.Lenders require business owners to identify the purpose of the loan
c.The business owner's personal credit score does not affect their ability to qualify for a loan
-True
-True
-Flase
Complete a SWOT analysis for your business based on the following information
a.Improving economy
b.Lack of expertise in some areas
c.Low overhead cost
d.Rising cost of product parts a.Improving economy- strengths
b.Lack of expertise in some areas - weakness
c.Low overhead cost - opportunities
d.Rising cost of product parts - threat
Match each compensation type to its corresponding description
, a.Commission - an employee who receives payment after completing a sale b.Hourly - an
employee who receives overtime pay for working extra hours
c.Piece work - an employee who receives a set amount for each unit created d.Salary - an
employee who receives a set wage each week without overtime pay for extra time ANSWER
ON FRONT
True or False
a.For a franchise opportunity, you will receive ongoing support from larger companies
b.For a personal business opportunity, you will generally have lower start-up costs than
opening a franchise
c.For a personal business opportunity, you will be required to go through more intensive
training than for a franchise opportunity
d.For a franchise opportunity, you will be able to purchase the items you believe will sustain
your business without having to ask for permission. a.For a franchise opportunity, you will
receive ongoing support from larger companies - True
b.For a personal business opportunity, you will generally have lower start-up costs than
opening a franchise - False
c.For a personal business opportunity, you will be required to go through more intensive
training than for a franchise opportunity - True
d.For a franchise opportunity, you will be able to purchase the items you believe will sustain
your business without having to ask for permission. - False
True or false
a.Using licensed materials typically involves paying a one-time fee
