ESB v2 Exam - Practice 2
Angel Investor - ANS-An investor who provides funding to a business for a stake in the
business in return.
Approach - ANS-3rd step in the sales process in which first contact with your client is
made
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.
Behavioral Segmentation - ANS-dividing a market into segments based on consumer
knowledge, attitudes, uses of a product, or responses to a product
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.
Bundle Pricing - ANS-Packaging together two or more complementary products and
selling them at a single price
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.
BY - ANS-Attribution; licensees must give appropriate credit, provide a link to the
license, and indicate if changes were made
, 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.
Cash Flow Statement - ANS-A summary that shows total income and spending for a
given time period
CC - ANS-used when an author wants to give other people the right to share, use, and
build upon a work that the author has created
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.
CIO - ANS-company executive in charge of the implementation, management, and
usability of both information and computer technologies
Closing - ANS-6th step in the sales process in which a seller gets the decision from the
client to move forward
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.
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