ESB Practice Exam 1

ESB Practice Exam 1

11th Grade

20 Qs

quiz-placeholder

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ESB Practice Exam 1

ESB Practice Exam 1

Assessment

Quiz

Education

11th Grade

Medium

Created by

Kristy Slifkin

Used 19+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an advantage of starting a sole proprietorship?

Limited liability

Shared decision-making

Easy to set up and full control

Double taxation

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business plan primarily helps an entrepreneur:

Secure funding and organize their strategy

Guarantee business success

Avoid paying taxes

Immediately generate profit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a market analysis in a business plan?

To estimate the cost of starting the business

To identify potential customers and competition

To determine employee salaries

To create a company logo

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which financial statement shows a company’s revenues, expenses, and profits over time?

Balance Sheet

Income Statement

Cash Flow Statement

Statement of Retained Earnings

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is equity financing?

Borrowing money that must be repaid with interest

Selling shares of the business to investors in exchange for capital

Using company profits to fund growth

Paying off business debt early

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The break-even point is when:

Total revenue equals total expenses

The business begins making a profit

The company runs out of cash

The company pays off all debts

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of an entrepreneur?

Risk-taking

Creativity

Fear of failure

Persistence

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