ESB Exam Study Guide with Complete Solutions.
Acquisition Cost - Answer ✔️✔️-the cost of obtaining data that you don't have
Contingency costs - Answer ✔️✔️-amount of money included to cover potential events that are
not specifically accounted for in a cost estimate
Variable Cost - Answer ✔️✔️-a cost that rises or falls depending on how much is produced
fixed costs - Answer ✔️✔️-costs that do not vary with production or sales level
pro forma - Answer ✔️✔️-financial statement
Small Business Administration (SBA) - Answer ✔️✔️-government agency that helps small
business owners develop business plans and obtain financing
Limited Liability Company (LLC) - Answer ✔️✔️-a form of business ownership that offers both
limited liability to its owners and flexible tax treatment
S cooperation - Answer ✔️✔️-a small business entity that is created under state laws
liquid assets - Answer ✔️✔️-cash and items that can be quickly converted to cash
Assets - Answer ✔️✔️-resources owned by a business
dividend - Answer ✔️✔️-The portion of corporate profits paid out to stockholders
liability - Answer ✔️✔️-An amount owed by a business
Net Income - Answer ✔️✔️-the difference between total revenue and total expenses when total
revenue is greater
shareholder - Answer ✔️✔️-Individual who owns part of a corporation
account payable - Answer ✔️✔️-money owed for products and services purchased on credit
Accounts Receivable - Answer ✔️✔️-Amounts to be received in the future due to the sale of goods
or services
Angel Investors - Answer ✔️✔️-individuals who invest in start-up companies with high growth
potential in exchange for a share of ownership
Bonds - Answer ✔️✔️-Certificates of debt that carry a promise to buy back the bonds at a higher
price
Capital/Equity - Answer ✔️✔️-Funds contributed by investors to a business.
Acquisition Cost - Answer ✔️✔️-the cost of obtaining data that you don't have
Contingency costs - Answer ✔️✔️-amount of money included to cover potential events that are
not specifically accounted for in a cost estimate
Variable Cost - Answer ✔️✔️-a cost that rises or falls depending on how much is produced
fixed costs - Answer ✔️✔️-costs that do not vary with production or sales level
pro forma - Answer ✔️✔️-financial statement
Small Business Administration (SBA) - Answer ✔️✔️-government agency that helps small
business owners develop business plans and obtain financing
Limited Liability Company (LLC) - Answer ✔️✔️-a form of business ownership that offers both
limited liability to its owners and flexible tax treatment
S cooperation - Answer ✔️✔️-a small business entity that is created under state laws
liquid assets - Answer ✔️✔️-cash and items that can be quickly converted to cash
Assets - Answer ✔️✔️-resources owned by a business
dividend - Answer ✔️✔️-The portion of corporate profits paid out to stockholders
liability - Answer ✔️✔️-An amount owed by a business
Net Income - Answer ✔️✔️-the difference between total revenue and total expenses when total
revenue is greater
shareholder - Answer ✔️✔️-Individual who owns part of a corporation
account payable - Answer ✔️✔️-money owed for products and services purchased on credit
Accounts Receivable - Answer ✔️✔️-Amounts to be received in the future due to the sale of goods
or services
Angel Investors - Answer ✔️✔️-individuals who invest in start-up companies with high growth
potential in exchange for a share of ownership
Bonds - Answer ✔️✔️-Certificates of debt that carry a promise to buy back the bonds at a higher
price
Capital/Equity - Answer ✔️✔️-Funds contributed by investors to a business.
