ESB Review Part 1

Front

Classify the following business: Wholesale flooring distributor because the transaction implies the materials purchased will be resold thru a retail business, such as an installer, or a store open to the general public.

Back

B2B

Front

Chain of local grocery stores because purchases at the store are typically made by buyers for personal use. The number of grocery stores managed by the owner is irrelevant.

Back

B2C

Front

Motorcycle repair shop because the service provided is typically for personal use.

Back

B2C

Front

An example of _______ compensation is paying field laborers for the amount of fruit they pick.

Back

Piece Work

Front

Which legal structure allows you to have partners and avoid double taxation? Options: Sole Proprietorship, C-Corporation, Limited Liability Company, S-Corporation

Back

S-Corporation

Front

Classify the following: A company selling office supplies to other businesses.

Back

B2B

Front

What type of compensation is based on the amount of work done, such as picking fruit?

Back

Piece Work

Front

Which business type involves selling directly to consumers?

Back

B2C

Front

Employees most affected by minimum wage laws are compensated _______.

Back

Hourly

Front

Which of the following is not a characteristic that helps identify a business opportunity? Marketing, Branding, Service, Procrastination

Back

Procrastination