ESB

ESB Certification Practice 1 Question and answers correctly solved 2024 Define Entrepreneurship - correct answer Setting up a business with the aim to make a profit. Categorize B2B (business to business) vs B2C (business to consumer) - correct answer B2B: "Wholesale flooring distributor" and "purchases requiring a tax exemption" B2C: "Chain of local grocery stores" and "motorcycle repair shop" You need to create a legal structure for your small business. You would like so...

ESB Certification Exam Study Guide Question and answers already passed 2024 Domain 1 Lesson 1 - correct answer The key objective of a small business owner is to generate ____ - correct answer profits Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly - correct answer risks Tangible items that require pick-up or delivery are ____ products - correct answer physical When a ____ purchases an item from a business, it is a bu...

ESB Certification Exam Garcia Question and answers rated A+ 2024 One can expect their sales volume to be ______ when they are in product/market fit. [Elements of the Product/Market Fit Hypothesis] - correct answer high Product/market fit is making a product or ________ that many people want. [Elements of the Product/Market Fit Hypothesis] - correct answer service A business must provide customers with quality products to maintain customer __________. [Performance and Quality Criteria] ...

ESB Certification Question and answers verified to pass 2024 Entrepreneur - correct answer An individual with an idea to offer an innovative product or service about which they are passionate. Entrepreneurship: - correct answer Setting up a business with the aim to make a profit. Franchise - correct answer A business where the owner licenses their operations, products or services, branding, and knowledge for a royalty fee. Small Business: - correct answer Owned and managed by on...

ESB Certification Question and answers already passed 2024 An executive summary should briefly explain everything in a business plan in how many pages? - correct answer Two pages. Factors that aid in determining whether or not a business opportunity is viable include market size, _____, management of cash flow, management skill sets, and passions. - correct answer Relationships. One value of using _____ material is that they are usually well-recognized, which may help to boost sales. -...

ESB Certification Question and answers 100% correct 2024 In general, which two characteristics define a "small" business? - correct answer "Fewer than 1,500 employees" and "less that $35.5 million revenue". Classify each of the following businesses as either "Physical" or "Digital". - correct answer Physical: "Bakery in your community" and "Hair salon that makes appointments online". Digital: "Online store that dropships camping gear" and "Bookstore on Amazon that s...

ESB certification Questions with complete solution 2024 Selling price formula - correct answer (Cost x Desired profit) + cost Burn rate - correct answer Starting balance - ending balance Run rate - correct answer Current revenue x 12 months Net profit - correct answer Value of investment - cost of investment Return of investment - correct answer Net profit / cost of investment x 100 Net income - correct answer Revenue - cost of good sold - expenses CAC (cost to acqu...

Esb certification Question and answers correctly solved 2024 Sole Partnership - correct answer A business owned by one person S corporation - correct answer a form of corporation that avoids double taxation by having its income taxed as if it were a partnership Non-Profit Corporation - correct answer An organization that does not pay taxes and does not exist to make a profit. limited liability company - correct answer A business organization in which the business (not the owner)...

ESB Business Life Cycle Question and answers verified to pass 2024 Existence - correct answer Starting off; business is starting survival (of the fittest) - correct answer creating a good customer base; money starting to come in success - correct answer steady money is coming in take- off - correct answer start to make a profit Resource Maturity - correct answer The most typical fourth stage of the small business Characterized by relatively stable or slowly rising sales ...

ESB Business Financials Question and answers already passed 2024 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? - correct answer 30% You are examining the year-end balance sheet for your business. According to the information in the Balance Sheet, what is your equity in the ...