ESB Summative 1

What is Entrepreneurship?

• Entrepreneurship is starting a business with the goal of making a profit.

• Entrepreneurship is working for a large corporation as an employee.

• Entrepreneurship is investing in stocks and bonds only.

• Entrepreneurship is managing someone else's business without any risk.

What is the definition of a Small Business?

• .A Small Business is a business with sales greater than $100 million and more than 5000 employees.

• A Small Business is a business with sales less than or equal to $35.5 million and less than or equal to 1500 employees

• A Small Business is a business with sales less than $1 million and fewer than 10 employees.

• A Small Business is a business with sales between $50 million and $100 million and between 1000 and 3000 employees.

What does B2B stand for?

• Business to Buyer

• Back to Basics

• Business to Business (wholesale)

• Buy to Buy

What does B2C stand for?

• Business to Consumer (retail, online)

• Business to Company

• Business to Client

• Business to Contractor

Match the business structure to its correct description:

• Easy to start, unlimited liability

• LLC

• International, taxed twice

• Partnership

• Shared financial backing

• S-Corp

• Low risk, personal tax rate

• C-Corp

• Small, taxed once, up to 100 shareholders

• Sole Proprietorship

Which business structure is described as 'Small, taxed once, up to 100 shareholders'?

• A. Franchise

• B. C-Corp

• C. LLC

• D. S-Corp

Which business structure is described as 'International, taxed twice'?

• S-Corp

• C-Corp

• LLC

• Non-Profit

Which business structure is described as 'Low risk, personal tax rate'?

• LLC

• Partnership

• Franchise

• Sole Proprietorship

Which business structure is described as 'Easy to start, unlimited liability'?

• Partnership

• Sole Proprietorship

• Non-Profit

• Franchise

Which business structure is described as 'Shared financial backing'?

• Partnership

• LLC

• S-Corp

• Franchise