ESB CERTIFICATION EXAM REVIEW
QUESTIONS |GUARANTEED
ACCURATE ANSWERS
James owns a restaurant with beginning cash balance of $5,000, $30,000
in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing.
What is James ending cash balance? - ACCURATE ANSWERS✔✔
$24,800
Shelly owns a car dealership. She just received a shipment of teslas and
paid $70,000 for each one and wants to make 25%. What should her
selling price be? - ACCURATE ANSWERS✔✔ $87,500
TRUE OR FALSE: Mortgage Payments are Long Term Liabilities -
ACCURATE ANSWERS✔✔ True
Equipment is considered ... - ACCURATE ANSWERS✔✔ a long term
asset
ROI is calculated by ... - ACCURATE ANSWERS✔✔ Net Profit / Cost
of Investment X 100
Run Rate is calculated by ... - ACCURATE ANSWERS✔✔ Current
Revenue for one month X 12
, Michelle owns a bakery shop. Her revenue at the end of last month was
$6,000. What is Michelle's run rate? - ACCURATE ANSWERS✔✔
$72,000
Which of the following is a variable expense? - ACCURATE
ANSWERS✔✔ commission payments
Anthony owns a bike shop. His monthly cost is $2,750.00. Each bike
costs $275.00. How many bikes does he have to sell to break even? -
ACCURATE ANSWERS✔✔ 10
How does an entrepreneur determine his / her selling price? -
ACCURATE ANSWERS✔✔ selling price = cost X desired profit
margin + cost
TRUE OF FALSE: Equity = Assets + Liabilities - ACCURATE
ANSWERS✔✔ False
________ is the owner's remaining value after all liabilities have been
deducted. - ACCURATE ANSWERS✔✔ Equity
Peter owns a barber shop. His total monthly cost is $3,500.00. He
charges $15.00 per hair cut. How many hair cuts must his shop perform
to break-even? - ACCURATE ANSWERS✔✔ 234
QUESTIONS |GUARANTEED
ACCURATE ANSWERS
James owns a restaurant with beginning cash balance of $5,000, $30,000
in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing.
What is James ending cash balance? - ACCURATE ANSWERS✔✔
$24,800
Shelly owns a car dealership. She just received a shipment of teslas and
paid $70,000 for each one and wants to make 25%. What should her
selling price be? - ACCURATE ANSWERS✔✔ $87,500
TRUE OR FALSE: Mortgage Payments are Long Term Liabilities -
ACCURATE ANSWERS✔✔ True
Equipment is considered ... - ACCURATE ANSWERS✔✔ a long term
asset
ROI is calculated by ... - ACCURATE ANSWERS✔✔ Net Profit / Cost
of Investment X 100
Run Rate is calculated by ... - ACCURATE ANSWERS✔✔ Current
Revenue for one month X 12
, Michelle owns a bakery shop. Her revenue at the end of last month was
$6,000. What is Michelle's run rate? - ACCURATE ANSWERS✔✔
$72,000
Which of the following is a variable expense? - ACCURATE
ANSWERS✔✔ commission payments
Anthony owns a bike shop. His monthly cost is $2,750.00. Each bike
costs $275.00. How many bikes does he have to sell to break even? -
ACCURATE ANSWERS✔✔ 10
How does an entrepreneur determine his / her selling price? -
ACCURATE ANSWERS✔✔ selling price = cost X desired profit
margin + cost
TRUE OF FALSE: Equity = Assets + Liabilities - ACCURATE
ANSWERS✔✔ False
________ is the owner's remaining value after all liabilities have been
deducted. - ACCURATE ANSWERS✔✔ Equity
Peter owns a barber shop. His total monthly cost is $3,500.00. He
charges $15.00 per hair cut. How many hair cuts must his shop perform
to break-even? - ACCURATE ANSWERS✔✔ 234
