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Exam (elaborations)

ESB Exam Study Guide 100% Correct(100% Correct)

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Acquisition Cost - ANSWERSthe cost of obtaining data that you don't have Contingency costs - ANSWERSamount of money included to cover potential events that are not specifically accounted for in a cost estimate Variable Cost - ANSWERSa cost that rises or falls depending on how much is produced...

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  • November 13, 2024
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  • 2024/2025
  • Exam (elaborations)
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ESB Exam Study Guide 100%
Correct(100% Correct)
Acquisition Cost - ANSWERSthe cost of obtaining data that you don't have

Contingency costs - ANSWERSamount of money included to cover potential events that
are not specifically accounted for in a cost estimate

Variable Cost - ANSWERSa cost that rises or falls depending on how much is produced

fixed costs - ANSWERScosts that do not vary with production or sales level

pro forma - ANSWERSfinancial statement

Small Business Administration (SBA) - ANSWERSgovernment agency that helps small
business owners develop business plans and obtain financing

Limited Liability Company (LLC) - ANSWERSa form of business ownership that offers
both limited liability to its owners and flexible tax treatment

S cooperation - ANSWERSa small business entity that is created under state laws

liquid assets - ANSWERScash and items that can be quickly converted to cash

Assets - ANSWERSresources owned by a business

dividend - ANSWERSThe portion of corporate profits paid out to stockholders

liability - ANSWERSAn amount owed by a business

Net Income - ANSWERSthe difference between total revenue and total expenses when
total revenue is greater

shareholder - ANSWERSIndividual who owns part of a corporation

account payable - ANSWERSmoney owed for products and services purchased on
credit

Accounts Receivable - ANSWERSAmounts to be received in the future due to the sale
of goods or services

Angel Investors - ANSWERSindividuals who invest in start-up companies with high
growth potential in exchange for a share of ownership

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