ESB Exam Study Guide Exam Questions
With Correct Answers
Acquisition |Cost |- |CORRECT |ANSWER✔✔-the |cost |of |obtaining |data |that |you |don't |have
Contingency |costs |- |CORRECT |ANSWER✔✔-amount |of |money |included |to |cover |potential |
events |that |are |not |specifically |accounted |for |in |a |cost |estimate
Variable |Cost |- |CORRECT |ANSWER✔✔-a |cost |that |rises |or |falls |depending |on |how |much |is |
produced
fixed |costs |- |CORRECT |ANSWER✔✔-costs |that |do |not |vary |with |production |or |sales |level
pro |forma |- |CORRECT |ANSWER✔✔-financial |statement
Small |Business |Administration |(SBA) |- |CORRECT |ANSWER✔✔-government |agency |that |helps |
small |business |owners |develop |business |plans |and |obtain |financing
Limited |Liability |Company |(LLC) |- |CORRECT |ANSWER✔✔-a |form |of |business |ownership |that |
offers |both |limited |liability |to |its |owners |and |flexible |tax |treatment
S |cooperation |- |CORRECT |ANSWER✔✔-a |small |business |entity |that |is |created |under |state |laws
liquid |assets |- |CORRECT |ANSWER✔✔-cash |and |items |that |can |be |quickly |converted |to |cash
Assets |- |CORRECT |ANSWER✔✔-resources |owned |by |a |business
, dividend |- |CORRECT |ANSWER✔✔-The |portion |of |corporate |profits |paid |out |to |stockholders
liability |- |CORRECT |ANSWER✔✔-An |amount |owed |by |a |business
Net |Income |- |CORRECT |ANSWER✔✔-the |difference |between |total |revenue |and |total |expenses |
when |total |revenue |is |greater
shareholder |- |CORRECT |ANSWER✔✔-Individual |who |owns |part |of |a |corporation
account |payable |- |CORRECT |ANSWER✔✔-money |owed |for |products |and |services |purchased |
on |credit
Accounts |Receivable |- |CORRECT |ANSWER✔✔-Amounts |to |be |received |in |the |future |due |to |the
|sale |of |goods |or |services
Angel |Investors |- |CORRECT |ANSWER✔✔-individuals |who |invest |in |start-up |companies |with |
high |growth |potential |in |exchange |for |a |share |of |ownership
Bonds |- |CORRECT |ANSWER✔✔-Certificates |of |debt |that |carry |a |promise |to |buy |back |the |
bonds |at |a |higher |price
Capital/Equity |- |CORRECT |ANSWER✔✔-Funds |contributed |by |investors |to |a |business.
capital |expenditures |- |CORRECT |ANSWER✔✔-Expenditures |on |equipment |the |business |will |use
|for |many |years.
equity |capital |- |CORRECT |ANSWER✔✔-money |that |a |business |gets |from |its |owners |in |order |to
|operate
With Correct Answers
Acquisition |Cost |- |CORRECT |ANSWER✔✔-the |cost |of |obtaining |data |that |you |don't |have
Contingency |costs |- |CORRECT |ANSWER✔✔-amount |of |money |included |to |cover |potential |
events |that |are |not |specifically |accounted |for |in |a |cost |estimate
Variable |Cost |- |CORRECT |ANSWER✔✔-a |cost |that |rises |or |falls |depending |on |how |much |is |
produced
fixed |costs |- |CORRECT |ANSWER✔✔-costs |that |do |not |vary |with |production |or |sales |level
pro |forma |- |CORRECT |ANSWER✔✔-financial |statement
Small |Business |Administration |(SBA) |- |CORRECT |ANSWER✔✔-government |agency |that |helps |
small |business |owners |develop |business |plans |and |obtain |financing
Limited |Liability |Company |(LLC) |- |CORRECT |ANSWER✔✔-a |form |of |business |ownership |that |
offers |both |limited |liability |to |its |owners |and |flexible |tax |treatment
S |cooperation |- |CORRECT |ANSWER✔✔-a |small |business |entity |that |is |created |under |state |laws
liquid |assets |- |CORRECT |ANSWER✔✔-cash |and |items |that |can |be |quickly |converted |to |cash
Assets |- |CORRECT |ANSWER✔✔-resources |owned |by |a |business
, dividend |- |CORRECT |ANSWER✔✔-The |portion |of |corporate |profits |paid |out |to |stockholders
liability |- |CORRECT |ANSWER✔✔-An |amount |owed |by |a |business
Net |Income |- |CORRECT |ANSWER✔✔-the |difference |between |total |revenue |and |total |expenses |
when |total |revenue |is |greater
shareholder |- |CORRECT |ANSWER✔✔-Individual |who |owns |part |of |a |corporation
account |payable |- |CORRECT |ANSWER✔✔-money |owed |for |products |and |services |purchased |
on |credit
Accounts |Receivable |- |CORRECT |ANSWER✔✔-Amounts |to |be |received |in |the |future |due |to |the
|sale |of |goods |or |services
Angel |Investors |- |CORRECT |ANSWER✔✔-individuals |who |invest |in |start-up |companies |with |
high |growth |potential |in |exchange |for |a |share |of |ownership
Bonds |- |CORRECT |ANSWER✔✔-Certificates |of |debt |that |carry |a |promise |to |buy |back |the |
bonds |at |a |higher |price
Capital/Equity |- |CORRECT |ANSWER✔✔-Funds |contributed |by |investors |to |a |business.
capital |expenditures |- |CORRECT |ANSWER✔✔-Expenditures |on |equipment |the |business |will |use
|for |many |years.
equity |capital |- |CORRECT |ANSWER✔✔-money |that |a |business |gets |from |its |owners |in |order |to
|operate
