Exam (elaborations)
ESB Certification Test Questions and answers latest update
- Course
- Institution
ESB Certification Test Questions and answers latest update
[Show more]
Seller
Follow
Schoolflix
Reviews received
Content preview
ESB Certification TestEntrepreneurship - correct answer Setting up business with the aim to make profit.
B2B (business-to-business) - correct answer Sells products and services directly to other businesses.
Normally requires a sales tax exemption certificate from the buyer.
B2C (business-to-consumer) - correct answer Sells products and services directly to customer for
personal use.
Small buisness - correct 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) - correct 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.
C Corporation (Companies) - correct 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 - correct 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) - correct 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) - correct 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 - correct answer Using money from investors to finance a project in exchange for shares
in the company. Can be used to raise working capitals.
, equity financing - correct answer money raised from within the firm, from operations or through the sale
of ownership in the firm (stock or venture capital). Advantage: there's no obligation to repay the money
acquired.
Piece work - correct answer work paid for according to the amount produced.
Salary - correct answer A fixed regular payment, typically paid on a monthly or biweekly basis but often
expressed as an annual sum.
Hourly - correct answer wage based on the amount of time worked (Minimum wage).
Commission - correct answer An amount paid to an employee based on a percentage of the employee's
sales.
Business cycle - correct answer 1. Existence
2. Survival
3. Success
4. Take- Off
5. Maturity
Elements of the design thinking process - correct answer 1. Empathize: Research users needs
2. Define: State your users needs and problems
3. Ideate: Challenge Assumptions and create idea
4. Prototype: Create solutions
5. Test: Try your solutions
Cheif Executive Officer (CEO) - correct answer Highest ranking employee in the company; Reports to the
board of directors.
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 Schoolflix. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now