ESB certification vocabulary(Vocab for certification
test)2023
Break Even Formula
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
the largest automotive marketing resource and car dealer social network, providing
industry best practices and more
Inventory Loan
The loan is collateralized by the inventory it is used to purchase.
Operating Loan
(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
tending to keep a firm hold of something; clinging or adhering closely
Competency
a set of particular abilities and knowledge that sets a company apart from its
competitors.
Non-Profit Organization
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
Store exterior which reflects on the image of the business
Tax Liability
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
the collection and analysis of broad characteristics about groups of people and
populations.
Behavioral
divides consumers according to behavior patterns as they interact with a company
Psychographic
the qualitative methodology of studying consumers based on psychological
characteristics and traits such as values, desires, goals, interests, and lifestyle choices.
Geographic
when a business divides its market on the basis of geography.
Angel Investors
Private Investors who fund start up businesses
IPO
initial public offering.
ESPO
test)2023
Break Even Formula
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
the largest automotive marketing resource and car dealer social network, providing
industry best practices and more
Inventory Loan
The loan is collateralized by the inventory it is used to purchase.
Operating Loan
(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
tending to keep a firm hold of something; clinging or adhering closely
Competency
a set of particular abilities and knowledge that sets a company apart from its
competitors.
Non-Profit Organization
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
Store exterior which reflects on the image of the business
Tax Liability
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
the collection and analysis of broad characteristics about groups of people and
populations.
Behavioral
divides consumers according to behavior patterns as they interact with a company
Psychographic
the qualitative methodology of studying consumers based on psychological
characteristics and traits such as values, desires, goals, interests, and lifestyle choices.
Geographic
when a business divides its market on the basis of geography.
Angel Investors
Private Investors who fund start up businesses
IPO
initial public offering.
ESPO
