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ESB Domain 1 Review Questions and Answers 100% Correct | Latest 2024
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ESB Domain 1 Review Questions and Answers 100% Correct | Latest 2024
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ESB Domain 1 Review Questions andAnswers 100% Correct | Latest 2024
Partners - ANSWER members of a company who share the risks and profits of
the business
Franchise - ANSWER A business that takes its name and characteristics from an
existing business chain
Stakeholder - ANSWER An individual with an interest in a business
Prototype - ANSWER A preliminary product, commonly a product with
minimum viability, from which to test and develop
Service - ANSWER an intangivle service or skill that is performed
Equity - ANSWER Non-cash compensations offered to employees in place of or
in addition to a lower salary
Stockholder - ANSWER An owner of one or more shares of a corporation
Small Business - ANSWER A corporation, partnership, or sole proprietorship
that is privately owned by one indivudal or a small group of people.
Salary - ANSWER A fixed amount of money paid to an employee for each pay
period.
, Product - ANSWER A tangible item
Commission - ANSWER A fee paid to an employee for completing a task
B2B - ANSWER A business to business commercial transaction between
businesses
Sole Proprietorship - ANSWER a business owned and managed by a single
individual. There is unlimited liability.
Compensation - ANSWER A monetary amount given to employees in return for
their work
S Corporation - ANSWER a type of business that offers limited liability like a
corporation and single taxation like a partnership, but no foreign investors are
allowed
Hourly Pay - ANSWER payment for services rendered based on the number of
hours worked
Piece work - ANSWER a worker paid a fixed rate for each unit produced
CFO - ANSWER The chief financial officer is responsible for a business's
finances.
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