ESB Certification Exam Review
2024/2025 Exam Questions and Answers
| 100% Pass
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? - 🧠ANSWER ✔✔$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? - 🧠ANSWER ✔✔$87,500
TRUE OR FALSE: Mortgage Payments are Long Term Liabilities -
🧠ANSWER ✔✔True
Equipment is considered ... - 🧠ANSWER ✔✔a long term asset
ROI is calculated by ... - 🧠ANSWER ✔✔Net Profit / Cost of Investment X
100
Run Rate is calculated by ... - 🧠ANSWER ✔✔Current Revenue for one
month X 12
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Michelle owns a bakery shop. Her revenue at the end of last month was
$6,000. What is Michelle's run rate? - 🧠ANSWER ✔✔$72,000
Which of the following is a variable expense? - 🧠ANSWER ✔✔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? -
🧠ANSWER ✔✔10
How does an entrepreneur determine his / her selling price? - 🧠ANSWER
✔✔selling price = cost X desired profit margin + cost
TRUE OF FALSE: Equity = Assets + Liabilities - 🧠ANSWER ✔✔False
________ is the owner's remaining value after all liabilities have been
deducted. - 🧠ANSWER ✔✔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? - 🧠ANSWER ✔✔234
TRUE OR FALSE: Fixed Costs change depending on the volume of
production. - 🧠ANSWER ✔✔False
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
2024/2025 Exam Questions and Answers
| 100% Pass
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? - 🧠ANSWER ✔✔$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? - 🧠ANSWER ✔✔$87,500
TRUE OR FALSE: Mortgage Payments are Long Term Liabilities -
🧠ANSWER ✔✔True
Equipment is considered ... - 🧠ANSWER ✔✔a long term asset
ROI is calculated by ... - 🧠ANSWER ✔✔Net Profit / Cost of Investment X
100
Run Rate is calculated by ... - 🧠ANSWER ✔✔Current Revenue for one
month X 12
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, Michelle owns a bakery shop. Her revenue at the end of last month was
$6,000. What is Michelle's run rate? - 🧠ANSWER ✔✔$72,000
Which of the following is a variable expense? - 🧠ANSWER ✔✔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? -
🧠ANSWER ✔✔10
How does an entrepreneur determine his / her selling price? - 🧠ANSWER
✔✔selling price = cost X desired profit margin + cost
TRUE OF FALSE: Equity = Assets + Liabilities - 🧠ANSWER ✔✔False
________ is the owner's remaining value after all liabilities have been
deducted. - 🧠ANSWER ✔✔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? - 🧠ANSWER ✔✔234
TRUE OR FALSE: Fixed Costs change depending on the volume of
production. - 🧠ANSWER ✔✔False
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
