ESB Certification Vocabulary Test with Complete Solutions!!

Break Even Formula - ANSWER-To calculate the break-even point in units use the formula: Break-Even point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin. Driving Sales - ANSWER-the largest automotive marketing resource and car dealer social network, providing industry best practices and more Inventory Loan - ANSWER-The loan is collateralized by the inventory it is used to purchase. Operating Loan - ANSWER-(also called a line of credit) is a short-term, flexible loan that a business can use as needed to borrow up to a pre-set amount of money.To ensure it will be repaid, the bank will often include a claim on the company's inventory and accounts receivable as part of the loan agreement. Tenacious - ANSWER-tending to keep a firm hold of something; clinging or adhering closely Competency - ANSWER-a set of particular abilities and knowledge that sets a company apart from its competitors. Non-Profit Organization - ANSWER-organization is a group organized for purposes other than generating profit and in which no part of the organization's income is distributed to its members, directors, or officers. Storefront - ANSWER-Store exterior which reflects on the image of the business Tax Liability - ANSWER-the total amount of tax debt owed by an individual, corporation, or other entity to a taxing authority like the Internal Revenue Service (IRS). Demographic - ANSWER-the collection and analysis of broad characteristics about groups of people and populations. Behavioral - ANSWER-divides consumers according to behavior patterns as they interact with a company Psychographic - ANSWER-the qualitative methodology of studying consumers based on psychological characteristics and traits such as values, desires, goals, interests, and lifestyle choices. Geographic - ANSWER-when a business divides its market on the basis of geography. Angel Investors - ANSWER-Private Investors who fund start up businesses IPO - ANSWER-initial public offering. ESPO - ANSWER-Eastern Shires Purchasing Organisation