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ESB Test 3 Questions and Answers 100% Correct | Updated 2024
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ESB Test 3 Questions and Answers 100%Correct | Updated 2024
The owner of a mobile food truck plans to sell tacos , hamburgers, and other
foods to employees in a large office complex . Before opening his business , the
owner will most likely need to obtain which of the following documents from each
employee to verify they have completed a course in food handling safety? -
ANSWER certificate
The owner of a pet supply store wants to expand her business and by boarding
animals. She has designed plans to add a 30^ prime *60^ prime kennel onto the
back of her retail buildingShe has checked the zoning and discovered a kennel
would be allowed on her property What will she need to obtain before adding the
kennel? - ANSWER permit
A sprinkler system company opens a new location in a suburb that has endured a
long history of poorly installed water and irrigation systems. What would be the
most effective way for this company to gain the trust of the neighborhood ? -
ANSWER advertise a 72-hour rapid response time for all repairs
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 of which exit strategy? - ANSWER harvesting
Meredith is starting a cleaning business with a 3-year loan of $10,000, at a 5%
compound annual interest rate. Assuming the loan is not paid back in full until the
end of the 3-year term, how much will she owe at the end of her loan? -
ANSWER $11,576.25
, An individual starts a babysitting business with a loan of $1,000. The loan is for 2
years at a 5COMPOUND interest rate. How much will the individual owe by the
end of the loan assuming nothing is paid until the end of the 2 year term (future
value of loan)? - ANSWER $1,102.5
A welding shop owner rents space in a building and needs a \$5,000 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 customers job ? - ANSWER Asking for an advance payment from
the customer whose large order is the reason the materials are needed
A retiring hardware shop owner offers to sell his store to a competitor located on
the south end of town. The competitor agrees to cash out the seller, merge the
two businesses , and continue operating both locations. Which exit strategy is this
an example of ? - ANSWER harvesting
Businesses accept many forms of payment in exchange for goods and services.
Match the form of payment with its definition. - ANSWER cash - Government
backed currency
line of credit - A loan to purchase now and pay later
check - payable note used by account owner to pay debt
debit card - electronic deduction from existing account
Which two groups benefit most from a well-written business plan? (Choose two -
ANSWER investors
business owner
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