ESB EXAM STUDY GUIDE
Accounting - ANSWER-planning, recording, analyzing, and interpreting financial
information
bank credit - ANSWER-A statistic that measures the lending activity of commercial
financial institutions
Online Credit - ANSWER-Debt obtained from a number of online companies.
Registered Agent - ANSWER-Someone hired by a business to serve as its official
presence in the state
beneficiary - ANSWER-one who receives benefits
total revenue - total cost = - ANSWER-profit
conflict of interest - ANSWER-a conflict between self-interest and professional
obligation
Corporate Social Responsibility - ANSWER-a business's concern for society's
welfare
intellectual property - ANSWER-A product of the intellect, such as an expressed
idea or concept, that has commercial value.
, Notes Payable - ANSWER-Short-term or long-term liabilities that a business
promises to repay by a certain date.
lien - ANSWER-The right to take hold or sell the property of a debtor as security or
payment for a debt, mortgage.
commissions - ANSWER-incentive pay calculated as a percentage of sales
Covered Loss - ANSWER-a loss that an insurance will reimburse a policyholder for
in the event of a claim
Contribution Margin - ANSWER-Sales - Variable Costs
brokerage - ANSWER-The business of making sales and purchases for a
commission; a broker.
profit per unit - ANSWER-Unit price minus cost of goods sold.
quarter - ANSWER-three months
overhead - ANSWER-broad category of fixed costs that includes interest, rent,
taxes, and executive salaries
overdraft - ANSWER-A check written for more money than your account contains
Accounting - ANSWER-planning, recording, analyzing, and interpreting financial
information
bank credit - ANSWER-A statistic that measures the lending activity of commercial
financial institutions
Online Credit - ANSWER-Debt obtained from a number of online companies.
Registered Agent - ANSWER-Someone hired by a business to serve as its official
presence in the state
beneficiary - ANSWER-one who receives benefits
total revenue - total cost = - ANSWER-profit
conflict of interest - ANSWER-a conflict between self-interest and professional
obligation
Corporate Social Responsibility - ANSWER-a business's concern for society's
welfare
intellectual property - ANSWER-A product of the intellect, such as an expressed
idea or concept, that has commercial value.
, Notes Payable - ANSWER-Short-term or long-term liabilities that a business
promises to repay by a certain date.
lien - ANSWER-The right to take hold or sell the property of a debtor as security or
payment for a debt, mortgage.
commissions - ANSWER-incentive pay calculated as a percentage of sales
Covered Loss - ANSWER-a loss that an insurance will reimburse a policyholder for
in the event of a claim
Contribution Margin - ANSWER-Sales - Variable Costs
brokerage - ANSWER-The business of making sales and purchases for a
commission; a broker.
profit per unit - ANSWER-Unit price minus cost of goods sold.
quarter - ANSWER-three months
overhead - ANSWER-broad category of fixed costs that includes interest, rent,
taxes, and executive salaries
overdraft - ANSWER-A check written for more money than your account contains
