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ESB Certification Exam Review Solved 100% Correct 2023

The key objective of a small business owner is to generate ____ - Answer-profits Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly - Answer-risks Tangible items that require pick-up or delivery are ____ products - Answer-physical When a ____ purchases an item from a business, it is a business-to-consumer transaction - Answer-customer ____ are for-profit corporations with limited liability - Answer-S corporations ____ are ideal...

James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? - Answer-$24,800 Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each one and wants to make 25%. What should her selling price be? - Answer-$87,500 TRUE OR FALSE: Mortgage Payments are Long Term Liabilities - Answer-True Equipment is considered ... - Answer-a long term a...

Elements of the Design Thinking Process Stage 1: Emphasize- Research Your Users' Needs Stage 2: Define- State Your Users' Needs and Problems Stage 3: Ideate- Challenge Assumptions and Create Ideas Stage 4: Prototype- Start to Create Solutions Stage 5: Test- Try Your Solutions Out Difference between small businesses and entrepreneurs? Small businesses are not always interested in taking on new business opportunities. Entrepreneurs set up a business with the aim to make a profit. Comp...

The key objective of a small business owner is to generate ____ profits Entrepreneurs are willing to take on new opportunities and unknown ____ to grow their businesses rapidly risks Tangible items that require pick-up or delivery are ____ products physical When a ____ purchases an item from a business, it is a business-to-consumer transaction customer ____ are for-profit corporations with limited liability S corporations ____ are ideal for international businesses C corporations ...

Which two criteria are required for obtaining venture capital funding? 1. Multiple business partners 2. A scalable business model 3.A profitable exit strategy 4. Brand new technology A scalable business model and A profitable exit strategy The design thinking process is highly focused on using secondary research to develop solutions to problems. True or False False Which two elements below of the sales process, goes after the sales pitch? 1. Prospect 2. Overcome objections 3. Foll...

One can expect their sales volume to be high when they are in ____ fitproduct/market Product/market fit is making a ____ that many people wantproduct or service A business must provide customers with quality products to maintain customer ____satisfaction A Minimum Viable Product (MVP) is a ____ used to test ease-of-use and functionality to help determine the user's experience and ultimately improve the user's experience with the productprototype In which stage should one develop a ...

A law was passed increasing the minimum wage by 30%. The owner of a small landscaping business must now pay all of her laborers 30% higher wages. What is the minimum amount the owner must now charge customers for labor to balance her increased operational expenses? Note: Disregard associated increases in taxes, such as FICA. -30% You've been asked to classify several businesses as either B2B or B2C For each business, select B2B or B2C. B2B -Wholesale flooring distributor -Purchases requ...

Quality _______ is measured by how well the product or service successfully serves its users' purpose. E-commerce sales and door-to-door sales What are two examples of direct distribution channels? Middlemen Indirect distribution channels use _______ to sell their products to the end customers. Idea The first stage of the product/market fit is the ________ stage. prototype The second stage of the product/market fit is the ________ stage. launch The third stage of the product/mark...

An executive summary should briefly explain everything in a business plan in how many pages? Two pages. Factors that aid in determining whether or not a business opportunity is viable include market size, _____, management of cash flow, management skill sets, and passions. Relationships. One value of using _____ material is that they are usually well-recognized, which may help to boost sales. Trademarked. Which two sources are considered secondary data? "Company newsletters" and "int...

ESB Certification Exam Review 2024 Questions & Answers | 100% Correct | Verified James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance? - $24,800 Shelly owns a car dealership. She just received a shipment of teslas and paid $70,000 for each one and wants to make 25%. What should her selling price be? - $87,500 TRUE OR FALSE: Mortgage Payments are Long Term Lia...