ESB Domain 1 Review

Multiple Choice — 1 point — Domain 1. Which is a characteristic of a business opportunity? Select one answer.

• The seller is required to help the buyer find an ideal location for the business

• The buyer only pays the buyer fee after 5,000 products have been sold

• The buyer has a guaranteed profit of at least 10% of the seller's original price for the product

Multiple Choice — 1 point — Domain 1. Sarah works at an auto shop. She performs car repairs and maintenance while abiding by the safety guidelines outlined at the shop. Sarah also ensures that all work she performs adheres to company policies. She is paid an hourly wage. Which best describes the role Sarah plays in the auto shop? Select one answer.

• Chief Operating Officer (COO)

• Chief Financial Officer (CFO)

• Stakeholder

• Employee

Multiple Choice — 1 point — Domain 1. Which is a DISADVANTAGE of S corporations? Select one answer.

• They have high taxation rates

• They are subject to double-taxation

• There is a limited number of allowed S corporations

• There are very strict qualification requirements for becoming an S corporation

Multiple Choice — 1 point — Domain 1. Match the characteristic with its definition: Risk Tolerance. Select one answer.

• The amount of loss one is willing to take when making investment decisions

• Adapting to change, loss, and disappointment

• Trusting one's self, one's goals, and one's progress

• Thinking about and planning for the future

• Tackling goals with courage and perseverance, even when it is challenging

Multiple Choice — 1 point — Domain 1. Match the characteristic with its definition: Self Reliance. Select one answer.

• The amount of loss one is willing to take when making investment decisions

• Trusting one's self, one's goals, and one's progress

• Adapting to change, loss, and disappointment

• Turning one's ideas into action or bringing in new ideas to generate more or better business

• The way one approaches new ideas and ventures

Multiple Choice — 1 point — Domain 1. Match the characteristic with its definition: Forward-thinking Mentality. Select one answer.

• Thinking about and planning for the future

• Trusting one's self, one's goals, and one's progress

• The amount of loss one is willing to take when making investment decisions

• The way one approaches new ideas and ventures

• Adapting to change, loss, and disappointment

Multiple Choice — 1 point — Domain 1. Match the characteristic with its definition: Opportunity Recognition. Select one answer.

• The way one approaches new ideas and ventures

• Turning one's ideas into action or bringing in new ideas to generate more or better business

• Thinking about and planning for the future

• Believing that one can accomplish anything if one works hard

• Trusting one's self, one's goals, and one's progress

Multiple Choice — 1 point — Domain 1. Match the characteristic with its definition: Initiative. Select one answer.

• Turning one's ideas into action or bringing in new ideas to generate more or better business

• Adapting to change, loss, and disappointment

• The way one approaches new ideas and ventures

• Tackling goals with courage and perseverance, even when it is challenging

• Thinking about and planning for the future

Multiple Choice — 1 point — Domain 1. Match the characteristic with its definition: Resiliency. Select one answer.

• Adapting to change, loss, and disappointment

• The amount of loss one is willing to take when making investment decisions

• Trusting one's self, one's goals, and one's progress

• Believing that one can accomplish anything if one works hard

• Tackling goals with courage and perseverance, even when it is challenging

Multiple Choice — 1 point — Domain 1. Match the characteristic with its definition: Grit. Select one answer.

• Tackling goals with courage and perseverance, even when it is challenging

• Adapting to change, loss, and disappointment

• Trusting one's self, one's goals, and one's progress

• The way one approaches new ideas and ventures

• The amount of loss one is willing to take when making investment decisions