Exam (elaborations)
ESB Vocab #1 Questions and Answers 2024
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Exam of 2 pages for the course esb at esb (ESB Vocab #1)
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ESB Vocab #1Acquisition Cost - answer Costs incurred by a business for property or equipment
Angel Investor - answer Investor who is willing to wait for a paycheck until a business
starts showing profit; they will accept a lower return on investment than a regular
investor
Asset - answer Tangible item a business owns. This can include office furniture and
fixtures, vehicles, and inventory.
Balance Sheet - answer Document which compares assets to liabilities plus owner's
equity.
Benefits - answer Business term which often refers to items provided to employees in
addition to standard compensation. These items can include but are not limited to
medical insurance, pension, or even stock portfolio.
Brand Recognition - answer Level or familiarity one has with a brand of item, service, or
business
Break-Even Point - answerPoint in which business' revenue matches with expenses
over a given time period.
Business Milestone - answerA point in a business' life where a manager or other
administration employee designates an achieved goal or standard in time. Relative to
the business and its owners.
Business Opportunity - answerSituation an entrepreneur analyzes and evaluates to see
if starting a sustainable, profitable business is feasible.
Business Plan - answerDocument which addresses the concept, customers, and a
capital for a business.
Business sustainability - answerTerm used to describe what can be done to increase a
business' profitability over the long term and keep the company fresh and competitive.
C Corporation (C Corp) - answerType of business which is good for international
business.
Cash - answerGovernment-backed currency used for payments
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