ESB certification vocabulary (2022/2023)
Rated A
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.
Rated A
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.
