Education > STUDY GUIDE > Domain 1 Complete Questions & Answers: 2023 (All)

Domain 1 Complete Questions & Answers: 2023

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Domain 1 Complete Questions & Answers: Spring 2023. What are the three disadvantages of selling physical products? Which corporation uses a double layer of taxation? Jane is an investor in a full-deta... il carwash that opened several years ago. She has been very pleased with the company's management after helping select a new CEO two months ago. Which describes the role Jane plays in the full-detail carwash? When an employee is hired, they sign a contract that outlines the employee's and the employer's _________ and the terms of employment. Jeff works for Green Grass Mowing Company. He is paid a fixed amount for each lawn he completes during the day. In addition to mowing lawns, Green Grass Mowing Company offers its customers a fertilization treatment for an additional cost. For every fertilization treatment Jeff secures, he receives an additional $7 in pay. Which two forms of compensation does Jeff receive for his work? Mike is the owner of a doggy daycare and grooming business. The business is economically healthy, and he is looking for ways to finance future growth. In which business life cycle is Mike? What might the design team need to do during the design thinking process? A common financial risk that entrepreneurs encounter is _______ - What are two benefits of entrepreneurship? Elizabeth sells makeup and has a team of distributors that she has recruited to sell makeup with her. She earns a percentage from all of the sales that the distributors make. What type of business opportunity is Elizabeth a part of? One should know if there is _____ for a product before taking on a business opportunity. An executive summary should briefly explain everything in a business plan in ___ pages. Ronda owns a food truck where she is known for her hot sauce. Which intellectual property law best protects Ronda's recipe from being stolen or replicated by other competitors? One value of using _____ material is that they are usually well-recognized, which may help to boost sales. Companies run the risk of employee's sharing trade secrets. Which two documents do many companies have their employees sign to help mitigate this risk? Appliance World is a top-rated appliance manufacturer. Super Steel supplies metal to Appliance World to build their appliances. What type of transaction is this? A lean canvas should only be ___ page long, discussing key information, without all the details one would see in a business plan. What is the difference between small businesses and entrepreneurs? Tommy was hired to help boost a startup company's sales and marketing strategies. The startup company does not have enough cash to continue paying Tommy his full salary. Tommy is passionate about the company's vision and has agreed to receive some of his pay in company stocks. Which two forms of compensation is Tommy receiving for his work? Tim purchased a movie from a popular streaming service. H received immediate access to the movie. What type of e-commerce product did Tim purchase? - What is the main drawback of a sole proprietorship? Anytime someone wants to use a _________ on their products, they must obtain a license to use them. What are the two advantages of selling digital products? Rose ordered a package of macaroons from an out-of-state bakery. She received the cookies the following week. What type of e-commerce product did rose order? Billie manages the budget for a toy manufacturing company. In addition to this, she also negotiates financial matters with other companies on collaborative projects. Which best describes the role Billie plays in the toy manufacturing company? Korryn works at a convenience store. When she was hired, she was told that she would be working 40 hours per week and receive $15 per hour of work. In addition to this, the company gives all employees partial ownership of the company in the form of shares. Which two forms of compensation does Korryn receive for her work? Sharon owns a law firm. She has recently begun earning more money, and the firm's finances are doing well. In which business life cycle is Sharon in? Dylan owns a small grocery store. The store has not been receiving a lot of business during the last few months and has been making a low profit. Dylan has a meeting scheduled to discuss these issues with other employees of the grocery store. In which business life cycle is Dylan? - Which is a characteristic of a business opportunity? Network marketers make their money through ____________ Joey has opened a restaurant. He paid a large amount of money up front to get the business started. He only sells products that are licensed by someone else. What type of business opportunity is Joey a part of? - Factors that aid in determining whether or not a business opportunity is viable include market size, _______, manage of cash flow, management skillsets, and passion. - When considering the reliability of the management for a business opportunity, what else should one consider at this time? Knowing a process has been tested and works well is valuable to companies as they can assume it would work just as successfully in their company. As a result, companies may want to use _______ materials. Small business - Entrepreneur - Franchise - S corporation - C Corporation - LLC (Limited Liability Company) Sole Proprietorship Partnership - Non-profit - Business Plan Pitch Deck - Lean Canvas To use materials that have a copyright or a trademark, one must get permission. Which two things are required to do before legally using the material? What must happen before one can use someone else's patent? [Show More]

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