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ESB V2 Certification (ANSWERS) 2024 - DISTINCTION GUARANTEED / Complete Verified Latest Version
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ESB V2 Certification (ANSWERS) 2024 - DISTINCTION GUARANTEED / Complete Verified Latest Version
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ESB V2 Certification(cost * desired profit margin) + cost - ANS-What is the formula for selling price?
(Marketing expenses + Sales expenses)/ number of new customers in the period - ANS-What is
the formula for calculating Customer Acquisition Cost (CAC)?
(value of investment - cost of investment/cost of investment) * 100 - ANS-What is the formula
used to calculate ROI? (hint: the first part is used to calculate net profit)
[(Ending number of customers in a period - new customers gained in a period)/Starting number
of customers in a period] * 100 - ANS-What is the formula for calculating Customer Retention
Rate (CRR)?
Angel investors - ANS-___________ are wealthy individuals willing to finance a business for an
equity stake in the business in return.
Approach - ANS-___________ is making first contact with the customer.
Assets - Liabilities - ANS-What is the formula for calculating equity?
Balance Sheet - ANS-A(n) _____________ shows what a company owns (both assets and
liabilities.)
Bootstrapping - ANS-__________ is where an owner uses their own savings to fund a business.
burn rate - ANS-A ________ is used to identify the amount of cash a company is spending each
month.
Business plan - ANS-A written document that details how a business will be structured,
managed, run, and grown.
BY - ANS-Credit must be given to the creator.
CC - ANS-Identifies it as a Creative Commons license.
Closing - ANS-_________ is getting the decision from the customer to move forward.
Collaboration - ANS-______________ is working with others toward a common goal.
Creative Commons - ANS-_________ licenses use abbreviations in their names to describe
what is and isn't permitted.
, Creativity and innovation - ANS-_________________ bring new and unconventional ideas to
the table and finding creative and new solutions to the way things are done.
Critical thinking - ANS-___________ involves solving problems in the best way by considering
various potential solutions to the problem.
Crowdfunding - ANS-___________is done by sharing your startup business on an online
platform where you can pre-sell your products. The $ from the pre-sell orders can be used as
capital for your business. (some websites require a processing fee and/or you meet your full
financial goal to access the $ you raise)
Current revenue * 12 - ANS-What is the formula used to calculate the run rate for a company?
Direct-to-consumer - ANS-Which sales channel has been opened to manufacturers because of
digital tools.
E-commerce sales and door-to-door sales - ANS-What are two examples of direct distribution
channels?
Employee - ANS-Sarah is a(n) ________ because she performs tasks while abiding by
company policies and receives a wage for her work.
equipment and inventory - ANS-____________ loans must be paid back within 10 years.
Equity - ANS-___________ is the owner's remaining value after all liabilities have been
deducted.
Establish the method of testing product quality - ANS-The second step of creating a quality
control process is to _____________.
Ethical practices - ANS-______________ involve decision-making based on morals and doing
the right thing.
existence - ANS-In the business life cycle, _________ is when the business introduces itself to
the market and attempts to catch the attention of potential customers.
Follow-up - ANS-______________ involves keeping in contact with the customer for retention,
repeat business, and referrals.
grants - ANS-__________ do not have to be paid back. They commonly come with
restrictions/guidelines on how the money can be spent.
gross profit * tax rate - ANS-What is the formula for calculating income tax expense?
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