ESB Domain 1 Vocabulary Review

Front

No ownership, no US Federal taxes

Back

Non-Profit

Front

Best for international business, even with being double-taxed: S Corporation, Partnership, Non-Profit, Sole Proprietorship, C Corporation

Back

C Corporation

Front

Ideal for a single owner seeking limited liability protection

Back

Limited Liability Corporation (LLC)

Front

Creates the company

Back

Founder

Front

Reports to the Board of Directors: Founder, Stakeholder, Chief Financial Officer (CFO), Chief Executive Officer (CEO), Chief Operating Officer (COO)

Back

Chief Executive Officer (CEO)

Front

Has a vested interest in the success of the company: Founder, Stakeholder, Chief Financial Officer (CFO), Chief Executive Officer (CEO), Chief Operating Officer (COO)

Back

Stakeholder

Front

Non-cash compensation: Hourly, Salary, Commission, Equity

Back

Equity

Front

Which type of business structure has high start-up costs with a royalty fee paid yearly but comes with an established product line and a marketing/advertising strategy?

Back

Franchise

Front

What is a tangible item?

Back

product

Front

Which type of compensation is typically performance-based and can vary month to month? Options: Hourly, Salary, Commission, Equity

Back

Commission