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ESB Exam Study Guide (Graded A)
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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 produ...

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  • March 30, 2023
  • 3
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • acquisition cost
  • contingency costs
  • variable cost
  • fixed costs
  • esb
  • esb exam study guide graded a

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  • ESB
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ESB Exam Study Guide (Graded A)
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

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