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Entrepreneurship and Small Business Question and answers verified to pass 2024
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Entrepreneurship and Small Business Question and answers verified to pass 2024 A dietitian decides to start a cruise vacation business for those looking to learn how to live a healthier lifestyle. The cruise will offer seminars with materials on healthy eating and exercise, and all of the food on t...

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  • August 23, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • entrepreneurship and small business
  • entrepreneurship and small business question and a

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Entrepreneurship and Small Business
(ESB)
A dietitian decides to start a cruise vacation business for those looking to
learn how to live a healthier lifestyle. The cruise will offer seminars with
materials on healthy eating and exercise, and all of the food on the cruise will
be healthy alternatives.Classify each expense as fixed or variable. SHIP
RENTAL - correct answer ✔Fixed


What is one impact that a company might experience as a result of an ethical
violation? - correct answer ✔Reputation damage and significant loss of
customers' trust


Which are three risks of entrepreneurship? - correct answer ✔Long hours


A fitness trainer is assessing a business strategy in a neighborhood whose
residents are mainly single, recent college graduates. The trainer would like to
target local businesses in the neighborhood to acquire new customers.Which
group should be targeted at these local businesses? - correct answer
✔Employees who work at them


What is an advantage of buying a franchise? - correct answer ✔Marketing
assistance


A dietitian decides to start a cruise vacation business for those looking to
learn how to live a healthier lifestyle. The cruise will offer seminars with
materials on healthy eating and exercise, and all of the food on the cruise will
be healthy alternatives.Classify each expense as fixed or variable. FOOD -
correct answer ✔VARIABLE

,A dog grooming business is legally structured as a sole proprietorship. What
are the tax implications for this structure? - correct answer ✔All profit earned
by a sole proprietorship is income earned by the owner, for which the owner
will have a tax liability


A fitness trainer is presenting a business plan for a new studio to investors.
The trainer envisions a studio with equipment and features that will meet the
needs of customers with a variety of personal and work schedules. What
studio feature would appeal to customers with demanding schedules? -
correct answer ✔Providing 24 hour member access


A landscaper owns a successful local business that provides lawn care
services. The owner wants to enhance the sustainability and longevity of the
company. What should the owner do? - correct answer ✔Develop off-season
services and secure a long-term credit line


Which three key values does a business plan provide? - correct answer ✔It
helps determine business viability


A hair salon is trying to determine how to tell if it is successful or not and has
decided it will be successful when it starts to make a profit.Which milestone
will indicate this? - correct answer ✔Reached break- even point


A dietitian decides to start a cruise vacation business for those looking to
learn how to live a healthier lifestyle. The cruise will offer seminars with
materials on healthy eating and exercise, and all of the food on the cruise will
be healthy alternatives.Classify each expense as fixed or variable. EXERCISE
AND DIET BOOKS - correct answer ✔FIXED


What is a characteristic of an entrepreneur? - correct answer ✔tenacious

, A restaurant owner finds that 68% of customers never come back. What is the
most important thing the restaurant owner should do to have a higher
percentage of repeat customers? - correct answer ✔Listen to customers


A restaurant owner wants to attract more customers by getting enough ratings
to appear on a popular social media site. The owner can generate 10% more
business by reaching an additional 100 reviews. He knows that if he provides
one - hundred 50% off coupons for meals, he can get 100 reviews.How much
will it cost to increase business by 10% if reach coupon is likely to cost $15? -
correct answer ✔$1,500


A dietitian decides to start a cruise vacation business for those looking to
learn how to live a healthier lifestyle. The cruise will offer seminars with
materials on healthy eating and exercise, and all of the food on the cruise will
be healthy alternatives.Classify each expense as fixed or variable. CREW
MEMBER SALARIES - correct answer ✔variable


A travel agent wants to hire a new information technology manager for a fast-
growing startup. The company is two years old, and the ITM is a salaried
position that oversees all technology operations.Which factor could prevent
the hire? - correct answer ✔Whether the business can afford to pay the
salary of the ITM


What is a drawback of buying a franchise? - correct answer ✔Lack of
flexibility to change marketing or operating policies based on local conditions


A personal trainer recently established a personal training company in an
underserved urban community and has been having difficulties securing
financial support from banks.Which resource should the personal trainer
utilize to secure funding for his business venture? - correct answer ✔SBA

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