ESB Domain 1

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

• profits

• customer retention

• cash

• none of these

Entrepreneurs are willing to take on new opportunities and unknown risks to grow their businesses rapidly

• FALSE

• TRUE

When a ______purchases an item from a business, it is a business-to-consumer transaction

• business

• vendor

• customer

• all of these

______ are for-profit corporations with limited liability and are NOT the most ideal for overseas or international operations.

• C corp

• S corp

• LLC (Limited Lability Company)

are ideal for international businesses.

• International Company

• Over Sea Corp

• none of these

• C corp

The (COO) Chief Operating Officer duty is

• handles the finances of a company

• oversees daily operational and administrative functions

• oversees the marketing team

• oversees the daily transactions for a company

A ______votes on the management of a company.

• stockholder

• Customer

• Board of Directors

• All of these

Salary is

• paid by the amount of work produced

• paid by the amount of hours worked

• paid a fixed amount each pay period

• paid every two weeks

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

• percent pay

• hours worked

• salary

• piece work

Businesses can offer _______in addition to a lower salary

• benefits

• equity

• none of these

• both of these