ESB V1 Domain 1/ Lesson 1

Has a lower tax rate that prevents the company from being double-taxed is a...

Best for international business even with being double-taxed is a...

A sole proprietorship or _______________ is responsible for all debt and they are easy to create.

Nonprofit organizations, have specific tax exemptions.

In this business life cycle a company is regularly taking on new customers & starting to generate a consistent income.

Businesses can compensate employees for work they produce when being paid by...

Entrepreneurs are willing to take on new opportunities and unknown...

This is the person who oversees daily operational and administrative functions...

The owner may decide to sell their ownership in the company during the...

A small business owner typically focuses on generating profits and deals with...

The CFO reports to the board of directors.

A limited liability company (LLC) has a personal tax rate.

What allows one to see and experience a customer's perspective?

Entrepreneurs tend to _____ _____and take on new opportunities and unknown risks.

A ____ ________ is easy to create but comes with unlimited liability.

When a business makes a purchase from another business, it is a business-to-boss (B2B) transaction.

A franchise requires less money upfront but has less risk involved.

These type of employees are paid a fixed amount each pay period...

Businesses can offer this in addition to a lower salary...

This type of legal structure is not personally liable for the company’s debt.

This person votes on the management of a company...

When a customer purchases an item from a business, it's what kind of transaction?

An S corporation and C corporation have specific tax advantages and limited liability.

This business legal structure is ideal for international businesses...

Tangible items that require pick-up or delivery are what kind of products?

Which one is a for-profit corporation with limited liability?

Mike owns a small but profitable tech company. He has been approached by a company that wants to purchase his business.

Al started a new flower shop last year. He has a good customer base & money coming in.

A stakeholder owns stock in the company.

Sales people are usually paid on salary.

When the design team creates multiple inexpensive versions of a product, it's known as...

The five elements of the design thinking process are: empathize, define, ideate, prototype & ...

An LLC is ideal for a single owner seeking low risk.

A ___________ is a licensed business that has established operations, products or services, and branding

A new graphic design business, is advertising online, trying to gain customers & just finished working with 1st client.

The key objective of a small business owner is to generate...

When a customer makes a purchase from a business, it is a business-to consumer (B2C) transaction.