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What is Entrepreneurship? A) Marketing and selling products. B) Setting up a business with the aim to make a profit. C) Acquiring leadership and managerial skills. D) Quickly advancing in positions within a corporation. - Answer B) Setting up a business with the aim to make a profit. You need to create a legal structure for your small business. You would like some of the benefits enjoyed by large corporations, but do not want to be taxed twice. You have four partners who will be sharehol...

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ESB Exam Study Guide With Complete Solutions. Acquisition Cost the cost of obtaining data that you don't have Contingency costs amount of money included to cover potential events that are not specifically accounted for in a cost estimate Variable Cost a cost that rises or falls depending on how much is produced fixed costs costs that do not vary with production or sales level pro forma financial statement Small Business Administration (SBA) government agency that helps small busin...

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What should this entrepreneur do FIRST before offering to design and build water features as part of his landscaping business? A) B) C) D) - CORRECT ANSWER-Ask the customers in the area if they are interested in adding a water feature to their gardens. What is a Target Market? A) Marketing with a bullseye goal. B) Sales to customers who use archery products. C) Customers to whom a company wants to sell its product and services. D) Advertising based on bullet points. - CORRECT ANSWER-C...

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ESB EXAM Study Guide best complete solutions 2025/2026 /. Domain 1 Lesson 1 - Answer- /.The key objective of a small business owner is to generate ____ - Answer-profits /.Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly - Answer-risks /.Tangible items that require pick-up or delivery are ____ products - Answer-physical /.When a ____ purchases an item from a business, it is a business-to-consumer transaction - Answer-custome...

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ESB EXAM Study Guide best complete solutions 2025/2026 /.What are three characteristics of entrepreneurs? - Answer-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? - Answer-Buy an existing business that is already successful. /.An entrepreneur moves into a small town and notices s...

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