ESB Certification Test 2024/2025 Exam
Questions with 100% Correct Answers |
Latest Update
Entrepreneurship - 🧠ANSWER ✔✔Setting up business with the aim to
make profit.
B2B (business-to-business) - 🧠ANSWER ✔✔Sells products and services
directly to other businesses. Normally requires a sales tax exemption
certificate from the buyer.
B2C (business-to-consumer) - 🧠ANSWER ✔✔Sells products and services
directly to customer for personal use.
Small buisness - 🧠ANSWER ✔✔A small business is when a business has
less than 35.5 million dollars in revenue, and fewer than 1,500 employees.
S corporation(Small businesses) - 🧠ANSWER ✔✔is a legal structure with
100 shareholders(U.S. citizens only) MAX, who are not responsible for
Liabilities. And they are only taxed once, and there is a separate tax return
for the business.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, C Corporation (Companies) - 🧠ANSWER ✔✔is a legal structure used for
when the company plans to sell stock to the public. It has unlimited
shareholders (not responsible for liabilities) that are taxed twice (corporates
level and income received). A separate tax return is required for business.
Sole Proprietorship - 🧠ANSWER ✔✔A business owned by one person that
legally needs a DBA or business license. The owner is responsible for
liabilities, no separate tax needed (taxed once).
Limitied-Liability Company (LLC) - 🧠ANSWER ✔✔This is best for
businesses concerned about liability protection. It has unlimited owners
who aren't responsible for liabilities, and can choose how they want to be
taxed. LLCs cannot go public.
Equity (business) - 🧠ANSWER ✔✔The amount an owner(s) would receive
if their ownership interests in a business (stock) were sold. (The money the
owner has left over)
Equity Funding - 🧠ANSWER ✔✔Using money from investors to finance a
project in exchange for shares in the company. Can be used to raise
working capitals.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
Questions with 100% Correct Answers |
Latest Update
Entrepreneurship - 🧠ANSWER ✔✔Setting up business with the aim to
make profit.
B2B (business-to-business) - 🧠ANSWER ✔✔Sells products and services
directly to other businesses. Normally requires a sales tax exemption
certificate from the buyer.
B2C (business-to-consumer) - 🧠ANSWER ✔✔Sells products and services
directly to customer for personal use.
Small buisness - 🧠ANSWER ✔✔A small business is when a business has
less than 35.5 million dollars in revenue, and fewer than 1,500 employees.
S corporation(Small businesses) - 🧠ANSWER ✔✔is a legal structure with
100 shareholders(U.S. citizens only) MAX, who are not responsible for
Liabilities. And they are only taxed once, and there is a separate tax return
for the business.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, C Corporation (Companies) - 🧠ANSWER ✔✔is a legal structure used for
when the company plans to sell stock to the public. It has unlimited
shareholders (not responsible for liabilities) that are taxed twice (corporates
level and income received). A separate tax return is required for business.
Sole Proprietorship - 🧠ANSWER ✔✔A business owned by one person that
legally needs a DBA or business license. The owner is responsible for
liabilities, no separate tax needed (taxed once).
Limitied-Liability Company (LLC) - 🧠ANSWER ✔✔This is best for
businesses concerned about liability protection. It has unlimited owners
who aren't responsible for liabilities, and can choose how they want to be
taxed. LLCs cannot go public.
Equity (business) - 🧠ANSWER ✔✔The amount an owner(s) would receive
if their ownership interests in a business (stock) were sold. (The money the
owner has left over)
Equity Funding - 🧠ANSWER ✔✔Using money from investors to finance a
project in exchange for shares in the company. Can be used to raise
working capitals.
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
