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Exam (elaborations)

ESB TEST STUDY GUIDE

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ESB TEST STUDY GUIDE...

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  • October 29, 2024
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  • 2024/2025
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ESB TEST STUDY GUIDE

Acquisition cost is the expense of acquiring data that you don't have.

Contingency costs – ANSWER the amount of money included to cover
potential events that are not explicitly accounted for in a cost estimate.


Variable cost is a cost that grows or falls based on how much is produced.

Fixed costs are costs that do not change with production or sales volume.

pro forma - ANSWER Financial Statement

The Small Business Administration (SBA) is a government agency that helps
small business entrepreneurs build business strategies and secure financing.

Limited Liability Company (LLC) - ANSWER a type of business ownership
that provides both limited liability to its owners and flexible tax treatment.

S cooperative - ANSWER a small business entity established by state laws.

liquid assets - cash and items that can be rapidly changed into cash.

Assets are resources that a business owns.

dividend- ANSWER The proportion of company earnings distributed to
stockholders

liability - ANSWER Amount owed by a business

Net income is the difference between total revenue and total costs when total
revenue is higher.

stockholder - ANSWER Individual who owns a portion of a corporation.

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