AUG 25TH ESB Presentation Review Quiz

Entrepreneurship means…

• Working for a company as an employee

• Starting a business to make a profit

• Selling products only to other businesses

• Creating nonprofit organizations

A small business is defined as having:

• Under 500 employees

• Under $1 million in sales

• 1,500 employees or fewer and up to $35.5 million in sales

• Only local customers

Which of the following is an example of a B2C company?

• Amazon selling directly to customers

• A steel company selling parts to Ford

• A wholesaler selling bulk food to restaurants

• A supplier selling to Walmart

Which business structure has unlimited liability?

• LLC

• Sole Proprietorship

• C-Corp

• Non-Profit

Which officer in a business handles the company’s finances?

• CEO

• CIO

• CFO

• COO

In a commission-based pay system, employees earn money based on...

• Hours worked

• The amount of sales they make

• A fixed yearly salary

• Bonuses from management

The first step of the Design Thinking Process is:

• Prototype

• Define

• Empathize

• Test

Which of the following is a premium pricing example?

• Dollar Tree

• Gucci handbag

• New restaurant discount

• Buy one get one free deal

Which formula is correct for ROI (Return on Investment)?

• ROI = (Assets ÷ Liabilities) × 100

• ROI = (Net Profit ÷ Cost of Investment) × 100

• ROI = (Income ÷ Sales) × 100

• ROI = (Expenses ÷ Cash Flow) × 100

Which of the following is an example of equity funding?

• Taking out a bank loan

• Using your savings to pay for start-up costs

• Investors buy part of your company in exchange for ownership

• Borrowing money from family and paying it back