Payment Types
What is the payment for the hours an employee has worked called?
hourly
What legal structure has no ownership and no US federal taxes?
Non-Profit
What is the correct order of the 7 steps of a Business Life Cycle Stage?
Existence, Survival, Success, Take-Off, Resource Maturity, Pivot or Persist, Exit
Which market segment shares a customer's age, gender, and ethnicity?
demographic
Which role within a business oversees company finances?
CFO
What is compensation for the number of units an employee produces called?
Piece Work
What legal structure is best for international business even with being double-taxed?
c-corporation
What is the correct order of the 5 steps of a Design Thinking Process?
Empathize, Define, Ideate, Prototype, Test
Which market segment shares a customer's location?
Which business opportunity involves higher start-up costs but is less risky?
franchising
What payment type is usually found in sales?
commission
What legal structure is easy to create but comes with unlimited liability?
Sole-proprietorship
What is the correct order SWOT analysis?
Strength, Weakness, Opportunity, Threat
Which market segment anticipates a customer's needs?
What is a one page document covering problems, solutions, and key details of a business plan?
Lean canvas
What is non cash compensation called?
equity
What legal structure is ideal for a single owner seeking low risk?
LLC
What are the 4 P's of the Marketing Mix?
Product, Price, Place, Promotion
Which market segment shows how a customer views the world?
psychographic
Which intellectual property law best covers logos?
trademarking
What is the set amount of pay in a given period called?
salary
What legal structure has a lower tax rate that prevents the company from being double-taxed?
S-Corporation
What is the correct order of the seven steps of a sales process?
Prospecting, preparation, approach, presentation, objection, closing, follow-up
How many market segments are there to analyze sales data?
4
Which pricing strategy offers lower prices to new customers during a special pricing period?
penetration