ESB Exam Study Guide (2023 – 2024)
Verified Solution
Acquisition Cost - the cost of obtaining data that you don't have
Contingency costs - amount of money included to cover potential events that are not
specifically accounted for in a cost estimate
Variable Cost - a cost that rises or falls depending on how much is produced
fixed costs - costs that do not vary with production or sales level
pro forma - financial statement
Small Business Administration (SBA) - government agency that helps small business
owners develop business plans and obtain financing
Limited Liability Company (LLC) - a form of business ownership that offers both
limited liability to its owners and flexible tax treatment
S cooperation - a small business entity that is created under state laws
liquid assets - cash and items that can be quickly converted to cash
Assets - resources owned by a business
dividend - The portion of corporate profits paid out to stockholders
liability - An amount owed by a business
Net Income - the difference between total revenue and total expenses when total
revenue is greater
shareholder - Individual who owns part of a corporation
account payable - money owed for products and services purchased on credit
Accounts Receivable - Amounts to be received in the future due to the sale of goods
or services
Angel Investors - individuals who invest in start-up companies with high growth
potential in exchange for a share of ownership
Verified Solution
Acquisition Cost - the cost of obtaining data that you don't have
Contingency costs - amount of money included to cover potential events that are not
specifically accounted for in a cost estimate
Variable Cost - a cost that rises or falls depending on how much is produced
fixed costs - costs that do not vary with production or sales level
pro forma - financial statement
Small Business Administration (SBA) - government agency that helps small business
owners develop business plans and obtain financing
Limited Liability Company (LLC) - a form of business ownership that offers both
limited liability to its owners and flexible tax treatment
S cooperation - a small business entity that is created under state laws
liquid assets - cash and items that can be quickly converted to cash
Assets - resources owned by a business
dividend - The portion of corporate profits paid out to stockholders
liability - An amount owed by a business
Net Income - the difference between total revenue and total expenses when total
revenue is greater
shareholder - Individual who owns part of a corporation
account payable - money owed for products and services purchased on credit
Accounts Receivable - Amounts to be received in the future due to the sale of goods
or services
Angel Investors - individuals who invest in start-up companies with high growth
potential in exchange for a share of ownership
