Exam (elaborations)
ESB Practice Test #3 Solved 100% Correct 2024
- Course
- Institution
ESB Practice Test #3 Solved 100% Correct 2024
[Show more]
Seller
Follow
CLOUND
Reviews received
Content preview
ESB Practice Test #3 Solved 100%Correct 2024
A welding shop owner rents space in a building and need $5000 in supplies to complete
a large project for a new customer. The bank has turned down a personal loan request.
The welding shop owner does not want to share ownership of the business by selling
equity shares to raise the funds needed for these supplies. What is the most practical
source of funding for the materials needed to complete this customer's job? - Answer-
Asking for an advance payment from the customer whose large order is the reason
materials are needed.
The owner of a gas station on one side of town wants to retire and offers to sell the
station to a competitor located on the other side of town. The competitor agrees to cash
out the seller, merge the two businesses, and continue operating both locations. This is
an example to which exit strategy? - Answer-Harvesting
A business is legally structured as a C Corporation. What are the tax implications for
this structure? - Answer-The corporations pays taxes and each of the shareholders
pays taxes.
A charter fishing boat has an ending cash balance of ($20,000) in May. For the month of
June, the company forecasts the following inflow and outflow of cash: Cash Sales
$500,000, Accounts Receivable collected $350,000, Asset sales $55,000, Direct
materials and labor $(200,000), Overhead $(320,000), Selling & Administrative costs
$(110,000), Asset purchases $(70,000), and Dividend payment $(100,000). What will be
the company's beginning cash flow in July? - Answer-$85,000
Which characteristic would be beneficial to an entrepreneur? - Answer-Doesn't give up
easily
What is one characteristic of an entrepreneur? - Answer-Responsible
How would a prospective entrepreneur benefit from a personality self-assessment? -
Answer-It can identify strengths and weaknesses in the entrepreneur's leadership style.
An automotive mechanic has noticed that a local major competitor has several vehicles
parked outside his garage waiting for service. The mechanic learns that many people
complain about the long wait. Which variable should be used by the automotive
mechanic to attract these customers? - Answer-Speed of service
An entrepreneur wants to own a bakery. She opens a bakery that specializes in
wedding cakes. After 6 months, the business fails and the bakery must close. Which
choice should the entrepreneur make based on this failure? - Answer-The entrepreneur
should evaluate why the business failed and identify the strengths and weaknesses of
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller CLOUND. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now