Exam (elaborations)
ESB V.2 DOMAIN 1 ENTREPRENEURSHIP & SMALL BUSINESS CONCEPTS TEST
- Course
- Institution
ESB V.2 DOMAIN 1 ENTREPRENEURSHIP & SMALL BUSINESS CONCEPTS TEST...
[Show more]
Content preview
ESB V.2 DOMAIN 1 ENTREPRENEURSHIP& SMALL BUSINESS CONCEPTS TEST
B2B: ANSWER A business-to-business (B2B) commercial transaction between
companies
B2C: ANSWER A B2C transaction
Brand recognition - ANSWER The degree of familiarity one has with a brand
Business Opportunity: ANSWER An entrepreneur analyzes and evaluates a
situation to determine whether launching a sustainable, lucrative business is
viable.
Business Plan - ANSWER A document that addresses the concept, clients, and
capital of a firm.
C Corporation - Answer A C corporation is a business form in which the
owners, or shareholders, are taxed separately from the company. C corporations
are likewise liable to corporate income tax. Business profits are taxed at both
the corporate and personal levels, resulting in double taxation.
CEO - Answer The Chief Executive Officer (CEO) plays a key function in a
company. The CEO manages a company's operations and resources and takes
significant decisions for it.
CFO - Answer The Chief Financial Officer (CFO) plays a key function in a
company. The CFO manages a company's finances.
Collaboration - Answer The act of collaborating with one or more persons to
achieve a common goal.
Commission - ANSWER A charge paid to an employee to complete a task.
, Compensation: ANSWER A monetary reward provided to employees in
exchange for their labor.
Confidentiality Agreement - Answer A formal agreement declaring that an
entity will not disclose information agreed upon by all parties in a transaction.
Contract - Answer An agreement between an employee and a firm that
specifies the obligations and terms of employment.
COO'S ANSWER The Chief Operating Officer (COO) is a leader in a
company. The COO is in charge of managing a company's administrative and
operational functions on a daily basis.
Copyright - ANSWER A type of protection that individuals can use to protect
their intellectual property. Copyright applies to print, music, cinema, and other
types of creative rights.
Critical Thinking - Answer Using one's thinking to solve an issue in the best
possible way, taking into account numerous alternative solutions.
Customer - Answer An individual or business that buys goods and services
from another business.
Employee - Answer A person recruited by a firm and compensated for their
services.
Entrepreneur - Answer Someone who wants to develop and run a profitable
business. Willing to investigate fresh prospects and unknown risks.
Equity: ANSWER Non-cash compensations provided to employees instead of
or in addition to a lower salary.
Ethical Practices - ANSWER Professionals should adhere to certain standards
of conduct.
Forward-thinking Mentality - ANSWER Thinking and planning for the future.
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 luzlinkuz. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79373 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now