ESB Review 5

The formula to figure out the owner's equity is:

• Equity = Assets - Liabilities

• Equity = Liabilities - Assets

• Equity = Assets + Liabilities

• Equity = Liabilities + Assets

The Lean Canvas is a one page document that covers all of the following except:

• Marketing Channels

• Salaries

• Costs

• Solutions

The purpose of a pitch deck is to do what?

• Attract potential investors

• Attract potential investors

• Detail overview of you business plan

• Promise guaranteed returns

To protect your Logo from other companies using it. You must get what?

• Copyright

• Patent

• License

• Trademark

All of the following are benefits of a franchise except:

• Limited to products from the franchise

• Guiding and Direction

• Training

• Logos

All of the following are benefits of a franchise except:

• Higher upfront Cost

• Guiding and Direction

• Logos

• Training

A Value Proposition is a statement that:

• explains to customers why they should do business with your company.

• conveys why your company's products or services are more valuable than your competitors.

• explains how to lower your company's cost with substitute material.

• explains to a customer if they buy product in bulk, the price per product drops.

How can you determine if a cost is a fixed cost?

• Always the same regardless of volume of goods sold.

• The expense will fluctuate based on production level.

• Both are correct

• Both are not correct

What is an example of primary data?

• Focus groups

• Surveys

• Academic journals

• Newspaper article

What is an example of secondary data?

• Academic journals

• Internet

• Focus groups

• Interview