ESB - Certification Practice 1

Front

Which statement defines entrepreneurship?

Back

Setting up a business with the aim to make a profit

Front

What legal structure should you set up for your small business if you want benefits of a large corporation, avoid double taxation, have four partners as shareholders, and want protection from business liabilities?

Back

S-Corporation

Front

Which one of the business compensation structures is an example of an employee that would be most affected by minimum wage laws? Options: Piece Work, Salary, Hourly, Commission

Back

Hourly

Front

An example of _____________ compensation is paying filed laborers for the amount of fruit they pick

Back

Piece Work

Front

An employee who is paid a percentage of a sale is paid by ________.

Back

Commission

Front

Which is the LAST stage in the five stages of the business life cycle?

Back

Maturity

Front

Which is the LAST step in the Design Thinking Process?

Back

Test

Front

Which is the greatest benefit of being an entreprenuer?

Back

Schedule control

Front

A Business Plan is 10-100 Pages

Back

True

Front

A Business Plan is used to get Investor's Attention

Back

False