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ESB V.2 EXAM 2 2024/2025

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In general, which two characteristics define a "small" business? (Choose two) - Precise Answer Fewer then 1,500 employees AND Less than $35.5 million revenue Classify each of the following businesses as either Physical or Digital. - Precise Answer Physical: - Bakery in your community -...

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  • July 28, 2024
  • 19
  • 2023/2024
  • Exam (elaborations)
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ESB V.2 EXAM 2 2024/2025
ESB V.2

,ESB V.2 EXAM 2 2024/2025


In general, which two characteristics define a "small" business?
(Choose two) - Precise Answer ✔✔Fewer then 1,500 employees


AND


Less than $35.5 million revenue


Classify each of the following businesses as either Physical or
Digital. - Precise Answer ✔✔Physical:
- Bakery in your community
- Hair salon that makes appointments online


Digital:
- Online store that dropships camping gear
- Bookstore on Amazon that sells eBooks


You need to create a legal structure for your small business. You
have plans for it to grow and hope in the future to sell shares to
the public. Your startup partners are citizens of Mexico and

, Japan. You do not want to be personally responsible for business
liabilities.


Which legal structure should you set up for your business? -
Precise Answer ✔✔C-Corporation


Match each business management role to its corresponding
description.


To answer, move each role from the list on the left to its
description on the right. - Precise Answer ✔✔COO: Oversees
the day-to-day administrative functions of a business; second in
command.


CIO: Develops policies and structures to protect company data.


CFO: Creates budgets, analyzes financial data, and forecasts
company profits.


CEO: The highest-ranking employee in the company; reports to
the board of directors.


You own a lawn care business. You have employees who work
long hours laboring in good weather, often exceeding 40 hours

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