ESB V2 Certification Practice 1

Front

The key objective of a small business owner is to generate __________________.

Back

Profit, Profits

Front

Businesses sell _____________ and services.

Back

products

Front

Is best for international businesses, have limited liability, and are double taxed. Options: General or Limited Partnership, C Corporation, S Corporation, Sole Proprietorship or Partnership, Limited Liability Corporation

Back

C Corporation

Front

_______________ employees are paid a fixed amount each pay period. [Business Compensation Structures]

Back

salaried

Front

Business Life Cycle Stage 1 - When a business begins

Back

Existence

Front

Business Life Cycle Stages: Stage 2 - Income and customers begin to grow

Back

Survival

Front

Business Life Cycle Stages: Stage 4 - When an owner decides whether to continue growing the business and how to finance growth.

Back

Take-Off Stage

Front

A one page document covering problems, solutions, and key details of a business plan, costs and revenue.

Back

Lean Canvas

Front

A brief overview of the business plan which outlines the business, what funding is needed, and financial projections

Back

Pitch Deck

Front

Confidentiality or __________________ agreements are signed by employees, agreeing not to share trade secrets. [Using Licensed Materials]

Back

non-disclosure