ESB Review

Front

What is Entrepreneurship?

Back

Setting up a business with the aim to make a profit.

Front

Which is a true statement about an S-Corporation? Options: Unlimited shareholders are allowed. Shareholders are not personally responsible for business liabilities. The owner is personally responsible for business liabilities. Unlimited owners are allowed.

Back

Shareholders are not personally responsible for business liabilities.

Front

Which business structure has only one owner?

Back

Sole Proprietorship

Front

What is the first stage of the business cycle?

Back

Existence

Front

During the Design Thinking Process, which element has you state your users' needs and problems?

Back

Define

Front

What is the main drawback of a sole proprietorship?

Back

They have unlimited personal liability.

Front

What might the design team need to do during the design thinking process?

Back

Revisit previous stages

Front

In which business life cycle state is Sharon in?

Back

Pivot or persist

Front

Cindy owns a law firm. She recently begun earning more money, and the firm's finances are doing well. In which business life cycle stage is Cindy in?

Back

Success