ESB Regional Core Practice Test
Questions and answers, 100% Accurate,
rated A/
grit - ✔✔Characteristics of successful entrepreneurs include:
working late and showing up for work on time the next day - ✔✔Which best d
...
ESB Regional Core Practice Test
Questions and answers, 100% Accurate,
rated A/
grit - ✔✔Characteristics of successful entrepreneurs include:
working late and showing up for work on time the next day - ✔✔Which best describes self-discipline?
online credit - ✔✔Consuelo's gift store has an opportunity that will disappear if they don't move quickly.
A competitor is moving to another state and they've offered to sell Consuelo their inventory at 25% of
retail value. Consuelo has inspected the inventory - it's in perfect condition and includes all of the most
popular items that Consuelo's store sells every day. In the upcoming holiday season 60 days away
Consuelo is sure the store can sell pretty much all of this inventory. Unfortunately this offer is only open
for 48 hours - after that, the competitor will sell to another buyer.What type of financing should
Consuelo seek?
contribution margin - ✔✔Unit price minus cost of goods sold.
two months of summer vacation - ✔✔Which of the following is a school expectation
how many units the company will need to sell to pay for a new piece of equipment - ✔✔A breakeven
analysis can determine:
the date when the final loan payment will be made and the loan balance will be zero - ✔✔The term
"maturity" refers to:
describes in detail how the company's product or service will be differentiated versus its competition -
✔✔A business plan has the following purpose:
persistence - ✔✔Self-discipline can best be defined as:
maximizing revenues for different products using different price points. - ✔✔Pricing strategies may
include
are the same no matter how many customers the business serves - ✔✔The fixed costs of a business:
works for someone else - ✔✔An employee:
determine how much capital is required to launch the business - ✔✔To determine whether a business
opportunity is realistic, the entrepreneur must:
Secretary of State - ✔✔The government agency that enables companies to register to do business in the
state of Louisiana is:
determination - ✔✔Robin has been working throughout the week to get ready for the store opening on
Friday. The tiles for the entryway weren't delivered on time, but Robin took the company van and picked
up the tiles at the vendor's warehouse. When the utility didn't connect the electricity on Monday, Robin
stayed on hold for an hour before finding a supervisor who sent a utility tech right away. The type of
entrepreneurial behavior that Robin has been exhibiting over the past week can best be described as
an individual responsible for receiving legal documents - ✔✔What is a "registered agent?
Yes - being late for work carries greater penalties than being late at school - ✔✔Is the workplace
expectation for being on-time different than the high school expectation?
ability to interact in a friendly and effective way with people you don't know - ✔✔Which of the
following is an essential skill for a successful entrepreneur and small business leader?
may shield the owners from liabilities of or judgments against the company - ✔✔One advantage of
establishing a new company as some type of corporation is:
a patent on an invention - ✔✔An example of intellectual property is:
easier to obtain but more expensive than bank loans - ✔✔Online loans are:
ability to start and finish a task without giving up despite obstacles that might arise - ✔✔Which of the
following best defines self-motivation?
change agents - ✔✔Successful entrepreneurs can be described as:
finding a mentor / guarantor who will help secure the $30,000 loan - ✔✔Alex is having a hard time
securing a $30,000 loan for the new business. The bank is very impressed with Alex's business plan but
unfortunately Alex's credit score is low. With a low credit score the bank won't loan Alex the money
necessary to get the new business launched. Alex has qualified for a $50,000 online loan but the terms
are very expensive and would make it hard for the company to become profitable. One next step Alex
might consider is:
bank debt is better for long-term investments - ✔✔Bank debt versus online credit:
Small Business Administration (SBA) - ✔✔Which is a federal government agency?
cost of goods sold - ✔✔An example of a variable cost is:
what type of bank account the company will use - ✔✔When launching a business, which is NOT a critical
consideration?
being on time every day without exception is mandatory - ✔✔Which of the following is a work
expectation?
a woman who designs and makes her own line of clothing and sells them to her friends - ✔✔Which is an
entrepreneur?
remain the same every month - ✔✔The fixed cost of a business:
is a credit-worthy individual or business responsible for repaying a loan if the debt holder cannot - ✔✔A
guarantor:
the time frame by which the borrower must repay the loan - ✔✔The maturity of a loan is:
the monthly profitability of the company - ✔✔A company balance sheet is the single report that best
indicates:
independence - ✔✔Characteristics of successful entrepreneurs include:
to reflect the value of their goods or services, not just their costs - ✔✔Businesses should always set their
prices:
self-discipline - ✔✔Amari has had a frustrating week. One of the new employees hired j
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