ESB Certification Test questions well answered to
pass graded A+ already passed
1. Entrepreneu Setting up business with the aim to make profit.
r- ship
2. B2B (busi- Sells products and services directly to other businesses. Normally
ness-to- requires a sales tax exemption certificate from the buyer.
business)
Sells products and services directly to customer for personal use.
3. B2C
(business-to-
con- sumer)
4. Small buisness A small business is when a business has less than 35.5 million dollars
in revenue, and fewer than 1,500 employees.
5. S corpora- is a legal structure with 100 shareholders(U.S. citizens only) MAX,
tion(Small who are not responsible for Liabilities. And they are only taxed once, and
busi- nesses) there is a separate tax return for the business.
6. C is a legal structure used for when the company plans to sell stock to
Corporation the public. It has unlimited shareholders (not responsible for liabilities)
(Companies) that are taxed twice (corporates level and income received). A
separate tax return is required for business.
A business owned by one person that legally needs a DBA or business
7. Sole license. The owner is responsible for liabilities, no separate tax needed
Proprietor- (taxed once).
ship
This is best for businesses concerned about liability protection. It has
8. Limitied- unlimited owners who aren't responsible for liabilities, and can choose
Liability how they want to be taxed. LLCs cannot go public.
Company
(LLC)
1/
13
, ESB Certification Test questions well answered to
pass graded A+ already passed
9. Equity (business) The amount an owner(s) would receive if their ownership interests in
a business (stock) were sold. (The money the owner has left over)
10. Equity Funding Using money from investors to finance a project in exchange for shares in
the
company. Can be used to raise working capitals.
2/
13
pass graded A+ already passed
1. Entrepreneu Setting up business with the aim to make profit.
r- ship
2. B2B (busi- Sells products and services directly to other businesses. Normally
ness-to- requires a sales tax exemption certificate from the buyer.
business)
Sells products and services directly to customer for personal use.
3. B2C
(business-to-
con- sumer)
4. Small buisness A small business is when a business has less than 35.5 million dollars
in revenue, and fewer than 1,500 employees.
5. S corpora- is a legal structure with 100 shareholders(U.S. citizens only) MAX,
tion(Small who are not responsible for Liabilities. And they are only taxed once, and
busi- nesses) there is a separate tax return for the business.
6. C is a legal structure used for when the company plans to sell stock to
Corporation the public. It has unlimited shareholders (not responsible for liabilities)
(Companies) that are taxed twice (corporates level and income received). A
separate tax return is required for business.
A business owned by one person that legally needs a DBA or business
7. Sole license. The owner is responsible for liabilities, no separate tax needed
Proprietor- (taxed once).
ship
This is best for businesses concerned about liability protection. It has
8. Limitied- unlimited owners who aren't responsible for liabilities, and can choose
Liability how they want to be taxed. LLCs cannot go public.
Company
(LLC)
1/
13
, ESB Certification Test questions well answered to
pass graded A+ already passed
9. Equity (business) The amount an owner(s) would receive if their ownership interests in
a business (stock) were sold. (The money the owner has left over)
10. Equity Funding Using money from investors to finance a project in exchange for shares in
the
company. Can be used to raise working capitals.
2/
13
