ESB Domain 1:Entrepreneurial and Small Business Concepts

Which legal structure is best for international business even with being double-taxed?

• Non-profit

• C-Corp

• Proprietorship

• LLC

Which legal structure has no ownership and no US federal taxes?

• Non-profit

• S-Corp

• C-Corp

• Partnership

Which legal structure is ideal for a single owner seeking low risk?

• Partnership

• LLC

• C-Corp

• Non-profit

Which legal structure involves shared financial backing?

• LLC

• Partnership

• C-Corp

• S-Corp

Who is responsible for developing the company’s vision, strategy, and mission?

• Marketing Manager

• Chief Financial Officer

• Chief Executive Officer

• Human Resources Manager

Which of the following tasks is NOT typically handled by a CFO?

• Creating budgets

• Planning cash flow

• Designing company logos

• Forecasting budget requirements

What does the COO oversee in a business?

• Marketing strategies

• Day-to-day operations and administrative functions

• Financial investments

• Product development

What type of compensation is described as non-cash?

• Hourly

• Commission

• Equity

• Salary

Which role oversees company finances?

• COO

• Stockholder

• CFO

• Stakeholder

Who owns stock in the company?

• CEO

• Stockholder

• Founder

• COO