ESB Certification Exam Study Guide
ESB CERTIFICATION EXAM STUDY GUIDE NEWEST ACTUAL EXAM
COMPLETE 200 QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW
VERSION!!
The ____ oversees daily operational and administrative functions - Correct
Answer-Chief Operating Officer
A ____ votes on the management of a company - Correct Answer-stockholder
____ employees are paid a fixed amount each pay period - Correct Answer-Salary
Businesses can compensate employees for work they produce when being paid by
____ - Correct Answer-piece work
Businesses can offer ____ in addition to a lower salary - Correct Answer-equity
During the ____ stage of the business life cycle, a company is regularly taking on
new customers and starting to generate a consistent income - Correct Answer-
survival
The owner may decide to sell their ownership in the company during the ____
stage - Correct Answer-exit plan
1|Page
, ESB Certification Exam Study Guide
The five elements of the design thinking process are ____ - Correct Answer-
empathize, define, ideate, prototype , and test
____ allows one to see and experience a customer's perspective - Correct Answer-
Empathy
The design team creates multiple inexpensive versions of a product, known as
____ - Correct Answer-Minimum Viable Products
Name benefits of a franchise - Correct Answer-less risk involved, tested
operational processes, or recognized brands
The key objective of a small business owner is to generate ____ - Correct Answer-
profits
Entrepreneurs are willing to take on new opportunities and unknown ____ to
grow their businesses rapidly - Correct Answer-risks
Tangible items that require pick-up or delivery are ____ products - Correct
Answer-physical
When a ____ purchases an item from a business, it is a business-to-consumer
transaction - Correct Answer-customer
____ are for-profit corporations with limited liability - Correct Answer-S
corporations
2|Page
, ESB Certification Exam Study Guide
____ are ideal for international businesses - Correct Answer-C corporations
No ownership, no US federal taxes - Correct Answer-Non-profit
Best for international business even with being double-taxed - Correct Answer-C
corporation
Easy to create but comes with unlimited liability - Correct Answer-Sole
proprietorship
Lower tax rate that prevents the company from being double-taxed - Correct
Answer-S corporation
Ideal for a single owner seeking low risk - Correct Answer-LLC (limited liability
company)
Shared financial backing - Correct Answer-Partnership
Creates the company - Correct Answer-Founder
Oversees company finances - Correct Answer-CFO
Owns stock in the company - Correct Answer-Stockholder
3|Page
ESB CERTIFICATION EXAM STUDY GUIDE NEWEST ACTUAL EXAM
COMPLETE 200 QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW
VERSION!!
The ____ oversees daily operational and administrative functions - Correct
Answer-Chief Operating Officer
A ____ votes on the management of a company - Correct Answer-stockholder
____ employees are paid a fixed amount each pay period - Correct Answer-Salary
Businesses can compensate employees for work they produce when being paid by
____ - Correct Answer-piece work
Businesses can offer ____ in addition to a lower salary - Correct Answer-equity
During the ____ stage of the business life cycle, a company is regularly taking on
new customers and starting to generate a consistent income - Correct Answer-
survival
The owner may decide to sell their ownership in the company during the ____
stage - Correct Answer-exit plan
1|Page
, ESB Certification Exam Study Guide
The five elements of the design thinking process are ____ - Correct Answer-
empathize, define, ideate, prototype , and test
____ allows one to see and experience a customer's perspective - Correct Answer-
Empathy
The design team creates multiple inexpensive versions of a product, known as
____ - Correct Answer-Minimum Viable Products
Name benefits of a franchise - Correct Answer-less risk involved, tested
operational processes, or recognized brands
The key objective of a small business owner is to generate ____ - Correct Answer-
profits
Entrepreneurs are willing to take on new opportunities and unknown ____ to
grow their businesses rapidly - Correct Answer-risks
Tangible items that require pick-up or delivery are ____ products - Correct
Answer-physical
When a ____ purchases an item from a business, it is a business-to-consumer
transaction - Correct Answer-customer
____ are for-profit corporations with limited liability - Correct Answer-S
corporations
2|Page
, ESB Certification Exam Study Guide
____ are ideal for international businesses - Correct Answer-C corporations
No ownership, no US federal taxes - Correct Answer-Non-profit
Best for international business even with being double-taxed - Correct Answer-C
corporation
Easy to create but comes with unlimited liability - Correct Answer-Sole
proprietorship
Lower tax rate that prevents the company from being double-taxed - Correct
Answer-S corporation
Ideal for a single owner seeking low risk - Correct Answer-LLC (limited liability
company)
Shared financial backing - Correct Answer-Partnership
Creates the company - Correct Answer-Founder
Oversees company finances - Correct Answer-CFO
Owns stock in the company - Correct Answer-Stockholder
3|Page
