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ESB Practice Test Questions and Answers 100% Correct | Updated 2024
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ESB Practice Test Questions and Answers 100% Correct | Updated 2024
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ESB Practice Test Questions and Answers100% Correct | Updated 2024
What is entrepreneurship? - ANSWER Setting up a business with the aim to
make a profit.
For each business, select B2B or B2C. - ANSWER B2B
Purchases requiring a tax exemption certificate.
Wholesale flooring distributor.
B2C
Motorcycle repair shop.
Chain of local grocery stores.
Which legal structure should you set up for your business? - ANSWER S-
Corporation
For each statement about owners of equity in a business, select true or false. -
ANSWER True
Founders own equity.
partner owns equity.
False
All stakeholder owns equity.
Contractors own equity.
, Complete the sentence about company roles and responsibilities by selecting the
correct option from each drop-down list. - ANSWER 1. Piece work
2. Salary
3. Hourly
4. Commission
Place the stages of the business life cycle in the correct order. - ANSWER Stage
1. Existence
Stage 2. Survival of the fittest
Stage 3. Success
Stage 4. Take-off
Stage 5. Maturity
Match each element of the Design Thinking Process to its corresponding
description. - ANSWER 1. Empathize
2. Define
3. Ideate
4. Prototype
5. Test
Successful entrepreneurs have mindsets that typically possess which three
characteristics? - ANSWER Responsible
Adaptable
Tenacious
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