ESB

What is entepenuership? - ANS setting up a buisness with the aim to make a profit B2B (business-to-business) - ANS A commercial exchange (e.g., products or services) between businesses, typically enabled by the Internet or electronic means. B2C (business-to-consumer) - ANS the process by which businesses sell to consumers S-Corporation - ANS a form of corporation that avoids double taxation by having its income taxed as if it were a partnership C-Corporation - ANS an ordinary corporation, ...

Flexibility - ANS Ability to adapt, willingness to change Courage - ANS Takes risks in spite of possible losses Empathy - ANS Sensitive to thoughts and feelings of others What are three characteristics of entrepreneurs? - ANS Creativity, Determination, Enthusiasm After a self-assessment, a potential entrepreneur has learned that she has a very low risk tolerance. Based upon this finding, which approach might be less stressful for the entrepreneur to have her own business? - ANS Buy an exi...

After doing a self-assessment, Peter realizes he wants to start a plumbing business, but doesn't want to risk alot of his own money. What would be his best option? - ANS Purchase an existing business Besides defining strengths and weaknesses, what is the other main factor determined during a self-assessment? - ANS Risk tolerance Todd wants to open a golf shop. Todd doesn't have any collateral except for his Ford Pinto. Upon attempting to secure financing from a bank, Todd is rejected...

Which two types of information does an income statement provide? - ANS -A classification of revenues & expenses -A classification of assets and liabilities The __________ creates budgets and financial strategies - ANS chief financial officer (CFO) A _______ finds and invests resources to form the company and help it succeed - ANS founder The ______ reports to the board of directors and is the highest-ranking employee in the company - ANS CEO You need to create a legal structure for your ...

A law was passed increasing the minimum wage by 30%. The owner of a small landscaping business must now pay all of her laborers 30% higher wages. What is the minimum amount the owner must now charge customers for labor to balance her increased operational expenses? Note: Disregard associated increases in taxes, such as FICA. - ANS -30% You've been asked to classify several businesses as either B2B or B2C For each business, select B2B or B2C. - ANS B2B -Wholesale flooring distributor -...

Elements of the Design Thinking Process - ANS Stage 1: Emphasize- Research Your Users' Needs Stage 2: Define- State Your Users' Needs and Problems Stage 3: Ideate- Challenge Assumptions and Create Ideas Stage 4: Prototype- Start to Create Solutions Stage 5: Test- Try Your Solutions Out Difference between small businesses and entrepreneurs? - ANS Small businesses are not always interested in taking on new business opportunities. Entrepreneurs set up a business with the aim to make a...

What is Entrepreneurship? - ANS Setting up a business with the aim to make a profit B2B or B2C - ANS Wholesale flooring distributer- B2B Purchases requiring a tax exemption certificate- B2B Chain of local grocery stores- B2C Motorcycle repair shop- B2C You would like some benefits enjoyed by large corporations, but do not want to be taxed twice. You have four partners that would be shareholders. None of you plan to sell your ownership to the public, but do want to be protected by business...

ESB Exam Study Guide with Complete Solutions

ESB Certification Test Questions With Correct Answers.

ESB EXAM Study Guide Questions With Correct Answers