ESB Lesson 1

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

• debt

• internet traffic

• profit

• capital

Entrepreneurs are willing to take on new opportunities and unknown __________ to grow their business rapidly.

• risks

• customers

• debt

• partners

Tangible items that require pick up or delivery are _____________ products.

• more expensive

• less expensive

• virtual

• physical

When a(n) ____________ purchases an item from a business, it is a business-to-consumer transaction

• employee

• stockholder

• customer

• CEO

_____________ are for-profit corporations with limited liability.

• S corporations

• C corporations

• LLC

• partnership

________________ are ideal for international business.

• S corporations

• C corporations

• LLC

• partnership

The ___________________ oversees daily operational and administrative functions.

• Chief Technical Officer

• Chief Financial Officer

• Founder

• Chief Operating Officer

A(n) ______________ votes on the management of a company.

• employee

• customer

• stockholder

• competitor

______________ employees are paid a fixed amount each pay period.

• Commission

• Salary

• Hourly

• Overtime

Businesses can compensate employees for work they produce when being paid by _________________.

• the hour

• salary

• piece work

• commission