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ESB Exam Study Guide Questions and Answers 100% Correct | 2024
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ESB Exam Study Guide Questions and Answers 100% Correct | 2024
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ESB Exam Study Guide Questions andAnswers 100% Correct | 2024
Acquisition Cost - ANSWER the cost of obtaining data that you don't have
Contingency costs - ANSWER amount of money included to cover potential events that are not
specifically accounted for in a cost estimate
Variable Cost - ANSWER a cost that rises or falls depending on how much is produced
fixed costs - ANSWER costs that do not vary with production or sales level
pro forma - ANSWER financial statement
Small Business Administration (SBA) - ANSWER government agency that helps small business owners
develop business plans and obtain financing
Limited Liability Company (LLC) - ANSWER a form of business ownership that offers both limited
liability to its owners and flexible tax treatment
S cooperation - ANSWER a small business entity that is created under state laws
liquid assets - ANSWER cash and items that can be quickly converted to cash
Assets - ANSWER resources owned by a business
dividend - ANSWER The portion of corporate profits paid out to stockholders
liability - ANSWER An amount owed by a business
, Net Income - ANSWER the difference between total revenue and total expenses when total revenue
is greater
shareholder - ANSWER Individual who owns part of a corporation
account payable - ANSWER money owed for products and services purchased on credit
Accounts Receivable - ANSWER Amounts to be received in the future due to the sale of goods or
services
Angel Investors - ANSWER individuals who invest in start-up companies with high growth potential in
exchange for a share of ownership
Bonds - ANSWER Certificates of debt that carry a promise to buy back the bonds at a higher price
Capital/Equity - ANSWER Funds contributed by investors to a business.
capital expenditures - ANSWER Expenditures on equipment the business will use for many years.
equity capital - ANSWER money that a business gets from its owners in order to operate
fiscal year - ANSWER A fiscal period consisting of 12 consecutive months.
Crowdfunding - ANSWER using social networking to appeal to potential investors
Guarantor - ANSWER a person who agrees to pay a debt if the primary debtor does not
Income Statement Equation - ANSWER Revenues - Expenses = Net Income
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