ESB V.2 EXAM 2 SOLVED 100% CORRECT
In general, which two characteristics define a "small" business? (Choose two) - Answer ️️ -
Fewer then 1,500 employees
AND
Less than $35.5 million revenue
Classify each of the following businesses as either Physical or Digital. - Answer ️️ -Physical:
...
ESB V.2 EXAM 2 SOLVED 100% CORRECT
In general, which two characteristics define a "small" business? (Choose two) - Answer ✔️✔️-
Fewer then 1,500 employees
AND
Less than $35.5 million revenue
Classify each of the following businesses as either Physical or Digital. - 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? - 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. - 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 per week. They also work short hours when the weather is
bad, sometimes they can't work at all. You do all of the sales for your business.
Which two types of compensation would be appropriate for these landscape employees? -
Answer ✔️✔️-Salary & Hourly
Match each Stage of the Business Life Cycle to its corresponding description.
To answer, move each stage from the list on the left to its description on the right. - Answer ✔️✔️-
Maturity: The business is separate from the owner with responsibilities delegated to staff. A
business in this stage usually commands a considerable share of the market and may even be a
household name.
Success: Company is stable and profitable.
Takeoff: Expansion strategies are implemented, and investment is balanced with potential.
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 EmilyCharlene. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
