The ______ is the amount of revenue required to cover expenses

What is a disadvantage of being a sole proprietor?

selling price = cost X desired profit margin + cost

How does an entrepreneur determine his / her selling price?

TRUE OR FALSE: Customer Retention Rate is the percentage of existing customers who remain customers after a given period. Your customer retention rate can help you better understand what keeps customers with your company.

TRUE OR FALSE: Customer Retention Rate can also signal opportunities to improve customer service

TRUE OF FALSE: Equity = Assets + Liabilities

Gillian works for a tech company and designed a new type of mousepad to use with a gaming console. Which intellectual property would best property would best protect Gillian's design?

________ is the owner's remaining value after all liabilities have been deducted.

A business selling products or services directly to consumers is a ...

TRUE OR FALSE: A distribution channel is a method used to get a product from the manufacturer to the end-use

Peter owns a barber shop. His total monthly cost is $3,500.00. He charges $15.00 per hair cut. How many hair cuts must his shop perform to break-even?

The ______ is the amount of revenue required to cover expenses

TRUE OR FALSE: Fixed Costs change depending on the volume of production.

What market segment anticipates a customer's needs?

TRUE OR FALSE: Customer Retention Rate is the percentage of existing customers who remain customers after a given period. Your customer retention rate can help you better understand what keeps customers with your company.

Which 2 types of information may be found on a profit and loss statement?

A home remodeling business wants to identify customer segments to target its services .What method would target homeowners who respond to promotional discounts?

The type of business that is best for international business even with being double taxed is a ______

TRUE OR FALSE: Customer Retention Rate is the percentage of existing customers who remain customers after a given period. Your customer retention rate can help you better understand what keeps customers with your company.

TRUE OR FALSE: Customer Retention Rate can also signal opportunities to improve customer service

Which of the following vote on the management of the company?

TRUE OR FALSE: Customer Acquisition refers to bringing in new customers - or convincing people to buy your products

What is a disadvantage of being a sole proprietor?

The 5 elements of the design thinking process are empathize, define, ideate, ______ and ______

In which step of the sales process would a customer decide to make a purchase

ESB Certification Exam Review

Authored by Carla Williams

Business

9th - 12th Grade

Used 223+ times

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20 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$24,800

James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance?

Which of the following are for-profit with limited liability?

Michelle owns a bakery shop. Her revenue at the end of last month was $6,000. What is Michelle's run rate?

Ella owns a tumbling gym. She complied a list of nearby competitors. What type of business would be an indirect competitor? a. gymnastic training center b. cheerleading gym c. trampoline park

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$87,500

Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each one and wants to make 25%. What should her selling price be?

What marketing method is the most expensive?

In which step of the sales process would you address customer concerns?

Which protects an invention from being copied?

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True

TRUE OR FALSE: Mortgage Payments are Long Term Liabilities

Which of the following is a variable expense?

Which is more cost effective: getting new customers or keeping existing customers

Alan just started a technology business. he is advertising online and trying to gain customers. He just finished working with his first client. In which business life cycle stage is Alan in?

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a long term asset

Equipment is considered ...

What type of organization stores and ship products for businesses?

A focus group was formed to provide opinions for a target market. What type of data is being collected from the focus group?

A competitor with a business that sells different products or services but is similar enough to be competitive is a / an ...

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Net Profit / Cost of Investment X 100

ROI is calculated by ...

In which step of the sales process would a potential customer be identified?

A wholesaler purchases products, commonly in bulk, from the manufacturer and then turns around and sells the products to retailers who then sell the products to the end-users. Which indirect distribution level is this?

During which phase might an owner decide to sell their ownership in a company?

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Current Revenue for one month X 12

Run Rate is calculated by ...

Which are internal in a SWOT analysis?

Alan just started a technology business. he is advertising online and trying to gain customers. He just finished working with his first client. In which business life cycle stage is Alan in?

Equipment is considered ...

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$72,000

Michelle owns a bakery shop. Her revenue at the end of last month was $6,000. What is Michelle's run rate?

What market segment shows how a customer views the world?

Anthony owns a bike shop. His monthly cost is $2,750.00. Each bike costs $275.00. How many bikes does he have to sell to break even?

A focus group was formed to provide opinions for a target market. What type of data is being collected from the focus group?

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ESB Certification Exam Review

$24,800

$87,500

True

a long term asset

Net Profit / Cost of Investment X 100

Current Revenue for one month X 12

$72,000

commission payments

10

selling price = cost X desired profit margin + cost

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