Exam (elaborations)
ESB CERTIFICATION EXAM REVIEW QUESTIONS AND ANSWERS
- Course
- Institution
ESB CERTIFICATION EXAM REVIEW QUESTIONS AND ANSWERS...
[Show more]
Seller
Follow
luzlinkuz
Reviews received
Content preview
ESB CERTIFICATION EXAM REVIEWQUESTIONS AND ANSWERS
James runs a restaurant with a starting cash balance of $5,000, $30,000 in sales,
$2,000 in utilities, $6,000 in loans, and $4,000 in marketing. What is James'
ending cash balance? - ANSWER: $24,800
Shelly owns a car dealership. She just received a supply of Teslas, paid $70,000
for each one, and hopes to profit 25%. What should her sale price be? - Answer:
$87,500.
TRUE OR FALSE: Mortgage payments are long-term liabilities. ANSWER:
True
Equipment is considered a long-term asset.
ROI is computed as... - ANSWER Net Profit / Cost of Investment X 100
The Run Rate is calculated by... - ANSWER: Current revenue for one month
multiplied by 12.
Michelle owns a bakeshop. Her total revenue at the end of last month was
$6,000. What is Michelle's run rate? - ANSWER: $72,000
Which of the following is a variable expense? - ANSWER Commission
payments.
Anthony operates a bicycle business. His monthly expenses are $2,750.00.
Every bike costs $275.00. How many bicycles does he need to sell to break
even? - ANSWER 10.
How does an entrepreneur determine his or her selling price? - ANSWER:
Selling price = cost x desired profit margin plus cost.
, TRUE OR FALSE: Equity = Assets + Liabilities - Answer: False
________ is the owner's leftover value after deducting all liabilities. -
ANSWER Equity
Peter owns a barbershop. His entire monthly expenses are $3,500.00. He
charges $15.00 per haircut. How many haircuts must his shop perform to break
even? - ANSWER 234.
True or False: Fixed costs vary according on manufacturing volume. - Answer:
False
Which two sorts of information can be seen on a profit and loss statement? -
ANSWER: Revenue/Expenses
TRUE OR FALSE: The Customer Retention Rate is the percentage of existing
customers who continue to be clients after a particular time period. Your client
retention rate might assist you better understand what makes customers stay
with your organization. - Answer: True.
TRUE OR FALSE: The customer retention rate might also indicate chances to
improve customer service. - Answer: True.
TRUE OR FALSE: Customer Acquisition refers to bringing in new consumers
or influencing individuals to buy your products.
At which stage of the sales process would you handle client concerns? -
ANSWER Objection.
In which step of the sales process would a customer decide to make a purchase?
ANSWER: Closing
At which stage of the sales process would a potential customer be identified? -
ANSWER Prospecting
What are the disadvantages of being a sole proprietor? - ANSWER: Unlimited
liability.
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 luzlinkuz. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
50843 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now