ESB certification vocabulary
Break Even Formula Correct Answer: 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 ...
ESB certification vocabulary
Break Even Formula Correct Answer: 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 Correct Answer: the largest automotive marketing resource and car dealer social network,
providing industry best practices and more
Inventory Loan Correct Answer: The loan is collateralized by the inventory it is used to purchase.
Operating Loan Correct Answer: (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 Correct Answer: tending to keep a firm hold of something; clinging or adhering closely
Competency Correct Answer: a set of particular abilities and knowledge that sets a company apart from
its competitors.
Non-Profit Organization Correct Answer: 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 Correct Answer: Store exterior which reflects on the image of the business
Tax Liability Correct Answer: 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 Correct Answer: the collection and analysis of broad characteristics about groups of
people and populations.
Behavioral Correct Answer: divides consumers according to behavior patterns as they interact with a
company
Psychographic Correct Answer: the qualitative methodology of studying consumers based on
psychological characteristics and traits such as values, desires, goals, interests, and lifestyle choices.
Geographic Correct Answer: when a business divides its market on the basis of geography.
Angel Investors Correct Answer: Private Investors who fund start up businesses
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