ESB certification vocabulary(Vocab for certification
test)2024
Break Even Formula - ✔✔To calculate the break-even point in units use the formula: Break-Even
point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars using the
formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin.
Driving Sales - ✔✔the largest automotive marketing resource and car dealer social network,
providing industry best practices and more
Inventory Loan - ✔✔The loan is collateralized by the inventory it is used to purchase.
Operating Loan - ✔✔(also called a line of credit) is a short-term, flexible loan that a business can use
as needed to borrow up to a pre-set amount of money.To ensure it will be repaid, the bank will often
include a claim on the company's inventory and accounts receivable as part of the loan agreement.
Tenacious - ✔✔tending to keep a firm hold of something; clinging or adhering closely
Competency - ✔✔a set of particular abilities and knowledge that sets a company apart from its
competitors.
Non-Profit Organization - ✔✔organization is a group organized for purposes other than generating
profit and in which no part of the organization's income is distributed to its members, directors, or
officers.
Storefront - ✔✔Store exterior which reflects on the image of the business
Tax Liability - ✔✔the total amount of tax debt owed by an individual, corporation, or other entity to a
taxing authority like the Internal Revenue Service (IRS).
Demographic - ✔✔the collection and analysis of broad characteristics about groups of people and
populations.
Behavioral - ✔✔divides consumers according to behavior patterns as they interact with a company
Psychographic - ✔✔the qualitative methodology of studying consumers based on psychological
characteristics and traits such as values, desires, goals, interests, and lifestyle choices.
Geographic - ✔✔when a business divides its market on the basis of geography.
Angel Investors - ✔✔Private Investors who fund start up businesses
IPO - ✔✔initial public offering.
test)2024
Break Even Formula - ✔✔To calculate the break-even point in units use the formula: Break-Even
point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars using the
formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin.
Driving Sales - ✔✔the largest automotive marketing resource and car dealer social network,
providing industry best practices and more
Inventory Loan - ✔✔The loan is collateralized by the inventory it is used to purchase.
Operating Loan - ✔✔(also called a line of credit) is a short-term, flexible loan that a business can use
as needed to borrow up to a pre-set amount of money.To ensure it will be repaid, the bank will often
include a claim on the company's inventory and accounts receivable as part of the loan agreement.
Tenacious - ✔✔tending to keep a firm hold of something; clinging or adhering closely
Competency - ✔✔a set of particular abilities and knowledge that sets a company apart from its
competitors.
Non-Profit Organization - ✔✔organization is a group organized for purposes other than generating
profit and in which no part of the organization's income is distributed to its members, directors, or
officers.
Storefront - ✔✔Store exterior which reflects on the image of the business
Tax Liability - ✔✔the total amount of tax debt owed by an individual, corporation, or other entity to a
taxing authority like the Internal Revenue Service (IRS).
Demographic - ✔✔the collection and analysis of broad characteristics about groups of people and
populations.
Behavioral - ✔✔divides consumers according to behavior patterns as they interact with a company
Psychographic - ✔✔the qualitative methodology of studying consumers based on psychological
characteristics and traits such as values, desires, goals, interests, and lifestyle choices.
Geographic - ✔✔when a business divides its market on the basis of geography.
Angel Investors - ✔✔Private Investors who fund start up businesses
IPO - ✔✔initial public offering.
