Exam (elaborations)
ESB terms Questions and Answers
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Exam of 6 pages for the course esb at esb (ESB terms)
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ESB termsAcquisition Cost - answer Cost incurred by a business.
angel investor - answer An investor who provides funding to a business for a stake in
the business in return.
aset - answer A tangible item a business owns.
b2b - answer A business-to-business (B2B) commercial transaction between
businesses.
b2c - answer A business-to-consumer (B2C) transaction.
balance sheet - answer A document that compares assets to liabilities plus owner's
equity.
Bootstrapping - answer A business owner that uses their own money to fund their
business.
brand recognition - answer The level of familiarity one has with a brand.
break even point - answer The point where a business's revenue matches its
expenses over a given period.
budget - answer The amount of money a business plans on spending during a given
period.
burn rate - answer A calculation used to measure a business's monthly cash flow.
Business Opportunity - answer A situation an entrepreneur analyzes and evaluates
to see if starting a sustainable, profitable business is feasible.
Business Plan - answer A document that addresses the concept, customers, and
capital for a business.
C Corporation - answer A business structure that allows the company to pass its
income, losses, deductions, and credits through its shareholders to decrease their
taxation.
, CEO - answer The Chief Executive Officer (CEO) holds a leadership role within a
business. The CEO oversees a business's operations and resources and makes the
major decisions for the company.
CFO - answer The Chief Financial Officer (CFO) holds a leadership role within a
business. The CFO oversees a company's finances.
Collaboration - answer The action of working with one or more people toward a
common goal.
Commission - answer A fee paid to an employee for completing a task.
Compensation - answer A monetary amount given to employees in return for their
work.
Confidentiality Agreement - answer A signed agreement stating that an entity will not
disclose information agreed upon by all parties in an arrangement.
Contract - answer An agreement between an employee and a company outlining
obligations and terms of employment.
COO - answer The Chief Operating Officer (COO) holds a leadership role within a
business. The COO is responsible for overseeing the day-to-day administrative and
operational functions of a business.
Copyright - answer A form of protection individuals can implement to protect their
intellectual property. Copyright is designated for print, music, film, and various other
forms of creative licenses.
Critical Thinking - answer Using one's mind to solve a problem in the best way by
considering various potential solutions to the problem.
Crowdfunding - answer The method of sharing a start-up business online to pre-sell
products.
Customer - answer An individual or business that purchases goods and services
from a business.
Customer Acquisition Cost - answer The total cost of acquiring a new customer.
Customer Retention - answer Activities or strategies employed by a business to
retain existing customers.
Chamber of Commerce - answer A local agency with information on participating
local businesses.
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