Exam (elaborations)
ESB v2 Exam - Practice 2 (1)
ESB v2 Exam - Practice 2 (1)
[Show more]
Seller
Follow
Content preview
ESB v2 Exam - Practice 2Angel Investor - ANS-An investor who provides funding to a business for a stake in the business
in return.
Asset - ANS-A tangible item a business owns.
B2B - ANS-commercial transaction between businesses.
B2C - ANS-commercial transaction between a business and a customer
Balance Sheet - ANS-A financial statement that reports assets, liabilities, and owner's equity on
a specific date.
Bootstrapping - ANS-starting a business without external help or capital
Break-Even Point - ANS-The point where a business's revenue matches its expenses over a
given period.
Budget - ANS-The amount of money a business plans on spending during a given period.
Business Opportunity - ANS-A situation an entrepreneur analyzes and evaluates to see if
starting a sustainable, profitable business is feasible.
Business Plan - ANS-A document that addresses the concept, customers, and capital for a
business.
C Corporation - ANS-A business structure that allows the company to pass its income, losses,
deductions, and credits through its shareholders to decrease their taxation.
CEO - ANS-Person who oversees a business's operations and resources and makes the major
decisions for the company.
CFO - ANS-Person who oversees a company's finances.
Commission - ANS-A fee paid to an employee for completing a task.
Compensation - ANS-A monetary amount given to employees in return for their work.
COO - ANS-A person who is responsible for overseeing the day-to-day administrative and
operational functions of a business.
, Copyright - ANS-A form of protection individuals can implement to protect their intellectual
property; designated for print, music, film, and various other forms of creative licenses.
Crowdfunding - ANS-The method of sharing a start-up business online to pre-sell products.
Customer - ANS-An individual or business that purchases goods and services from a business.
Customer Acquisition Cost - ANS-The total cost of acquiring a new customer.
Customer Retention Cost - ANS-The total cost to retain existing customers.
Demographic Segmentation - ANS-dividing the market into segments based on variables such
as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and
generation
Distribution Channel - ANS-A method used to get a product from the manufacturer to the
end-users.
Employee - ANS-An individual hired by a company and compensated for their work.
Entrepreneur - ANS-An individual who aspires to start and run a successful business.
Equity - ANS-the value that would be returned to a company's shareholders if all of the assets
were liquidated and all of the company's debts were paid off
Ethical Practices - ANS-Standards of professional conduct professionals should uphold.
Fixed Costs - ANS-Costs a business has that remain the same no matter the volume of
production.
Founder - ANS-The person that developed or created a company or organization.
Franchise - ANS-A business that takes its name and characteristics from an existing business
chain.
Hourly Pay - ANS-A payment amount provided to employees for the number of hours they
worked.
Income Statement - ANS-A financial statement that details a business's revenue and expenses
for a given period.
Innovation - ANS-A new idea, product, or method.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lydiaomutho. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$11.32. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76800 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now