ESB questions with complete solution
2023
Acquisition Costs - correct answer Costs incurred by a business
Angel Investor - correct answer Investor who provides funding to a business for a stake in the business in
return
Asset - correct answer A tangible item a business owns
B2B - correct answer business to business commercial transaction between businesses
B2C - correct answer business to consumer transactions
Balance sheet - correct answer Document that compares assets to liabilities plus owners equity
Bootstrapping - correct answer Business owner that uses their own money to fund their business
Brand recognition - correct answer The level of familiarity one has with a brand
break-even point - correct answer The point where a business's revenue matched its expense over a
given period
Budget - correct answer Amount of money a business plans on spending during a given period
Burn rate - correct answer A calculation used to measure a business's monthly cash flow
, Business Opportunity - correct answer A situation an entrepreneur analyzes and evaluates to see if
starting a sustainable, profitable business is feasible
Business plan - correct answer Document that addresses the concept, customers, and capital for a
business
C Corporation - correct answer Business structure that allows the company to pass its income, losses,
deductions, and credits through its shareholders to decrease their taxation
CEO - correct answer Oversees a business operations and reasoutces and makes the major decisions for
the company
CFO - correct answer oversees a company's finances
Collaboration - correct answer Action of working with one or more people toward a common goal
Commission - correct answer A fee paid to an employee for completing a task
Compensation - correct answer A monetary amount given to employees in return for their work
confidentiality agreement - correct answer A signed agreement stating that an entity will not disclose
information agreed upon by all parties in an arrangement
Contract - correct answer An agreement between an employee and a company outlining obligations and
terms of employment
COO - correct answer Oversees day to day administrative and operational functions of a business
Copyright - correct answer A form of protection individuals can implement to protect their intellectual
property, print, music, film, others
2023
Acquisition Costs - correct answer Costs incurred by a business
Angel Investor - correct answer Investor who provides funding to a business for a stake in the business in
return
Asset - correct answer A tangible item a business owns
B2B - correct answer business to business commercial transaction between businesses
B2C - correct answer business to consumer transactions
Balance sheet - correct answer Document that compares assets to liabilities plus owners equity
Bootstrapping - correct answer Business owner that uses their own money to fund their business
Brand recognition - correct answer The level of familiarity one has with a brand
break-even point - correct answer The point where a business's revenue matched its expense over a
given period
Budget - correct answer Amount of money a business plans on spending during a given period
Burn rate - correct answer A calculation used to measure a business's monthly cash flow
, Business Opportunity - correct answer A situation an entrepreneur analyzes and evaluates to see if
starting a sustainable, profitable business is feasible
Business plan - correct answer Document that addresses the concept, customers, and capital for a
business
C Corporation - correct answer Business structure that allows the company to pass its income, losses,
deductions, and credits through its shareholders to decrease their taxation
CEO - correct answer Oversees a business operations and reasoutces and makes the major decisions for
the company
CFO - correct answer oversees a company's finances
Collaboration - correct answer Action of working with one or more people toward a common goal
Commission - correct answer A fee paid to an employee for completing a task
Compensation - correct answer A monetary amount given to employees in return for their work
confidentiality agreement - correct answer A signed agreement stating that an entity will not disclose
information agreed upon by all parties in an arrangement
Contract - correct answer An agreement between an employee and a company outlining obligations and
terms of employment
COO - correct answer Oversees day to day administrative and operational functions of a business
Copyright - correct answer A form of protection individuals can implement to protect their intellectual
property, print, music, film, others
