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ESB Exam One (GMETRIX)( Entrepreneurship and Small Business Study Set)2023
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ESB Exam One (GMETRIX)( Entrepreneurship and Small Business Study Set)2023
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ESB Exam One (GMETRIX)(Entrepreneurship and Small Business
Study Set)2023
What is Entrepreneurship?
A) Marketing and selling products.
B) Setting up a business with the aim to make a profit.
C) Acquiring leadership and managerial skills.
D) Quickly advancing in positions within a corporation. - Answer B) Setting up a
business with the aim to make a profit.
You need to create a legal structure for your small business. You would like some of
the benefits enjoyed by large corporations, but do not want to be taxed twice. You
have four partners who will be shareholders. None of you plan to sell your ownership
shares to the public, but do want to be protected from business liabilities.
Which legal structure should you set up for your business?
A) Sole Proprietorship
B) C-Corporation
C) Limited Liability Company
D) S-Corporation - Answer D) S-Corporation
Which is one of the greatest benefits of being an entrepreneur?
A)
B)
C)
D) - Answer Schedule control
The owner of a landscaping business has notified that none of his competitors are
including ponds or other water features in the gardens they create. The landscaper
wants to determine the viability of this business opportunity.
What should this entrepreneur do FIRST before offering to design and build water
features as part of his landscaping business?
A)
B)
C)
D) - Answer Ask the customers in the area if they are interested in adding a water
feature to their gardens.
What is a Target Market?
A) Marketing with a bullseye goal.
B) Sales to customers who use archery products.
C) Customers to whom a company wants to sell its product and services.
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