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ESB TEST STUDY GUIDE
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ESB TEST STUDY GUIDEAcquisition 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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