ESB Test Review

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

• profits

• customer retention

• cash

• revenue

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

• business

• vendor

• customer

• anyone

The COO's (Chief Operating Officer) duty is to ____.

• handle the finances of a company

• oversee daily operations and administrative functions

• oversee the marketing team

• oversee daily transactions for a company

When businesses compensate their employees for each unit of work they produce, they are paying their employees by ______.

• percent pay

• hours worked

• salary

• piece work

The owner may decide to sell their ownership in the company during the ______ stage of the business life cycle.

• exit plan

• gateway

• opening

• takeoff

_____ allows one to see and experience a customer's perspective.

• Empathy

• Kindness

• Entrepreneurial Skills

• Generosity

________ is the amount of loss one is willing to take when making an investment decision.

• Willingness

• Will power

• Risk tolerance

• Strength

Which of the following best describes the concept of having a growth mindset?

• you want your business skills to grow

• you believe that you can grow by experiencing life

• you have a set of beliefs that often leads to giving up easily

• you believe that you can accomplish anything through hard work

An example of an environmental risk is a(n) ______.

• tornado

• car wreck

• equipment failure

• customer slipping on spilled product

A patent protects a/an _____from being copied.

• piece of art

• music

• invention

• logo