ESB Review 5

What type of agreement is exemplified by Brielle verbally agreeing to deliver two new hats for the shop to sell each week?

• Implied

• Voidable

• Express

• Executed

What legal tool prevents individuals other than the holder from making, selling, or using an invention?

• Trademark

• Patent

• Copyright

• Trade secret

Which business ownership type is best for someone who wants to work alone and avoid many joint ownership or lawsuits?

• Sole proprietorship

• Limited liability company (LLC)

• Corporation

• Partnership

What type of tax are businesses required to collect from customers when they purchase certain goods or services?

• Corporate

• Income

• Estate

• Sales

What is the distribution channel used by Loggins Forestry and Mill Company when selling wood to Henderson Wood Products?

• Agent to industrial user to consumer

• Producer to wholesaler to retailer to consumer

• Producer to industrial user to consumer

• Producer to industrial distributor to industrial user

Wingco's method of selling products through its own catalog is an example of what type of distribution?

• Direct

• Indirect

• Middleman

• Industrial

Choosing to sell custom-made items directly to consumers is an example of selecting a distribution channel based on the:

• Product

• Market

• Price

• Location

Which of the following helps the reader find specific elements of a formal report?

• Table of contents

• Title page

• Executive summary

• Conclusion

What should a successful brand promise be able to do?

• Convey a high-quality image

• Clarify the company's processes

• Customize the product for each customer

• Communicate an appealing benefit

Which of the following is an example of an uninsurable risk?

• Fire

• Business interruption

• Customer buying habits

• Personal injury