ESB Certification

Front

A fixed cost has the same value each time it is incurred.

Back

true

Front

A non-profit organization is taxed.

Back

false

Front

A sole proprietorship protects the owner from personal liability

Back

false

Front

A LLC protects the owner from personal liability

Back

true

Front

A variable cost is eventually paid off over time.

Back

false

Answer explanation

Remember VARIABLE costs are VACATION costs - they go down if you are on vacation.

Front

Affiliate sales programs offer commissions to companies who sell their products.

Back

true

Answer explanation

TikTok shops are affiliate programs. The person who shared the product gets a (small) payment if you buy the product.

Front

An entrepreneur is a person who assumes the responsibilities and risks of starting a business.

Back

true

Front

An S corporation is suitable for international companies with at least 200 shareholders.

Back

false

Front

Business longevity increases potential funding opportunities.

Back

true

Front

Is copyright licensing required for material in the public domain?

Back

No, copyright licensing is not required for material in the public domain.