ESB v2 exam 2023 with 100% correct answers

acquisition costs Cost incurred by a business. angel investor An investor who provides funding to a business for a stake in the business in return. asset A tangible item a business owns. B2B A business-to-business commercial transaction between businesses. B2C A business-to-consumer transaction. Balance Sheet A document that compares assets to liabilities plus owner's equity. Bootstrapping A business owner that uses their own money to fund their business. Brand Recognition The level of familiarity one has with a brand. Break-Even Point The point where a business's revenue matches its expenses over a given period. Budget The amount of money a business plans on spending during a given period. Burn Rate A calculation used to measure a business's monthly cash flow. Business Opportunity A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable business is feasible. Business Plan A document that addresses the concept, customers, and capital for a business. C Corporation A business structure that allows the company to pass its income, losses, deductions, and credits through its shareholders to decrease their taxation. CEO This Officer holds a leadership role within a business, oversees a business's operations and resources and makes the major decisions for the company. CFO This officer holds a leadership role within a business and oversees a company's finances. Collaboration The action of working with one or more people toward a common goal. commission A fee paid to an employee for completing a task. Compensation A monetary amount given to employees in return for their work. Confidentiality Agreement A signed agreement stating that an entity will not disclose information agreed upon by all parties in an arrangement. Contract An agreement between an employee and a company outlining obligations and terms of employment. COO This officer holds a leadership role within a business and is responsible for overseeing the day-to-day administrative and operational functions of a business. Copyright A form of protection individuals can implement to protect their intellectual property. It is designated for print, music, film, and various other forms of creative licenses. Critical Thinking Using one's mind to solve a problem in the best way by considering various potential solutions to the problem.