Entrepreneurship and Small Business Certification UPDATED Actual Exam Questions and CORRECT Answers
4 views 0 purchase
Course
Entrepreneurship and Small Business
Institution
Entrepreneurship And Small Business
Entrepreneurship and Small Business
Certification UPDATED Actual Exam
Questions and CORRECT Answers
Small Business - CORRECT ANSWER- Corporative, partnership, or sole prioprietorship
that is privately owned by any individual or a small group of people.
Small Business "Characteristic" - CORR...
Entrepreneurship and Small Business
Certification UPDATED Actual Exam
Questions and CORRECT Answers
Small Business - CORRECT ANSWER✔✔- Corporative, partnership, or sole prioprietorship
that is privately owned by any individual or a small group of people.
Small Business "Characteristic" - CORRECT ANSWER✔✔- They have 35.5 million or less
in sales, and 1500 or less employees
Small Business Owners - CORRECT ANSWER✔✔- not always interested in taking on new
business opportunities and their key objective is to generate profits
Entrepreneur - CORRECT ANSWER✔✔- a person who organizes and operates a business or
businesses, taking on greater than normal financial risks in order to do so.
Franchise - CORRECT ANSWER✔✔- A business established or operated under an
authorization to sell or distribute a company's goods or services in a particular area
S-corporation - CORRECT ANSWER✔✔- a form of corporation that avoids double taxation
by having its income taxed as if it were a partnership. Passes its income, losses,deductions,
and credit through shareholders.
C-corporation - CORRECT ANSWER✔✔- Legal business entity that offers limited liability
to all of its owners, who are called stockholders. The taxing of profits from the business is a
both corporate and personal levels, creating double taxation.
Limited Liability Corporation - CORRECT ANSWER✔✔- a type of business with limited
liability for the owners. The owners pay taxes on the company profit and losses through their
personal taxes.
Sole Prioprietorship - CORRECT ANSWER✔✔- A business owned by one person. It is not
shielded from any amount of liability.
, non-profit organization - CORRECT ANSWER✔✔- an organization whose goals do not
include making a personal profit for its owners or organizers, and does not pay federal taxes.
Physical Products - CORRECT ANSWER✔✔- Tangible items - usually perceived to be of
higher value (people are willing to pay more for them because you can see & touch the
product)
Services - CORRECT ANSWER✔✔- intangible things like a skill or expertise that is
performed
E-commerce - CORRECT ANSWER✔✔- selling items over the internet (it can be physical
products or digital products)
Digital goods & services - CORRECT ANSWER✔✔- Intangible items - digital items
Business-to-Consumer (B2C) transaction - CORRECT ANSWER✔✔- a customer purchases
an item from a business
Business-to-Business (B2B) transaction - CORRECT ANSWER✔✔- when a business
purchases a product, service, or information from another business
Chief Executive Officer (CEO) - CORRECT ANSWER✔✔- Oversees a business operations
and resources and makes the major decisions for the company
Chief Financial Officer (CFO) - CORRECT ANSWER✔✔- Responsible for a businesses
finances
Chief Operationg Officer (COO) - CORRECT ANSWER✔✔- Responsible for seeing the
day to day adminstrative and operational functions.
Founders - CORRECT ANSWER✔✔- The individual that developed or created the company
or organization
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 MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
