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ESB Domain 1 Review questions with correct answers
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ESB Domain 1 Review questions with correct answers
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ESB Domain 1 Review questions with correctanswers
Partners - Answer members of a company who share the risks and profits of the
business
Franchise - Answer A business that takes its name and characteristics from an
existing business chain
Stakeholder - Answer An individual with an interest in a business
Prototype - Answer A preliminary product, commonly a product with minimum
viability, from which to test and develop
Service - Answer an intangivle service or skill that is performed
Equity - Answer Non-cash compensations offered to employees in place of or in
addition to a lower salary
Stockholder - Answer An owner of one or more shares of a corporation
Small Business - Answer A corporation, partnership, or sole proprietorship that is
privately owned by one indivudal or a small group of people.
Salary - Answer A fixed amount of money paid to an employee for each pay
period.
Product - Answer A tangible item
, Commission - Answer A fee paid to an employee for completing a task
B2B - Answer A business to business commercial transaction between businesses
Sole Proprietorship - Answer a business owned and managed by a single
individual. There is unlimited liability.
Compensation - Answer A monetary amount given to employees in return for their
work
S Corporation - Answer a type of business that offers limited liability like a
corporation and single taxation like a partnership, but no foreign investors are
allowed
Hourly Pay - Answer payment for services rendered based on the number of hours
worked
Piece work - Answer a worker paid a fixed rate for each unit produced
CFO - Answer The chief financial officer is responsible for a business's finances.
B2C - Answer the process in which businesses sell to consumers
COO - Answer Chief Operating Officer is responsible for seeing the day to day
administrative and operational functions.
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