ESB certification vocabulary Questions with correct Answers
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Course
ESB
Institution
ESB
Break Even Formula - Answer- To calculate the break-even point in units use the formula: Break-Even point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin.
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esb certification vocabulary questions with correct answers
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ESB certification vocabulary Questions
with correct Answers
Break Even Formula - Answer- To calculate the break-even point in units use the
formula: Break-Even point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs
per unit) or in sales dollars using the formula: Break-Even point (sales dollars) = Fixed
Costs ÷ Contribution Margin.
Driving Sales - Answer- the largest automotive marketing resource and car dealer social
network, providing industry best practices and more
Inventory Loan - Answer- The loan is collateralized by the inventory it is used to
purchase.
Operating Loan - Answer- (also called a line of credit) is a short-term, flexible loan that a
business can use as needed to borrow up to a pre-set amount of money.To ensure it
will be repaid, the bank will often include a claim on the company's inventory and
accounts receivable as part of the loan agreement.
Tenacious - Answer- tending to keep a firm hold of something; clinging or adhering
closely
Competency - Answer- a set of particular abilities and knowledge that sets a company
apart from its competitors.
Non-Profit Organization - Answer- organization is a group organized for purposes other
than generating profit and in which no part of the organization's income is distributed to
its members, directors, or officers.
Storefront - Answer- Store exterior which reflects on the image of the business
Tax Liability - Answer- the total amount of tax debt owed by an individual, corporation,
or other entity to a taxing authority like the Internal Revenue Service (IRS).
Demographic - Answer- the collection and analysis of broad characteristics about
groups of people and populations.
Behavioral - Answer- divides consumers according to behavior patterns as they interact
with a company
Psychographic - Answer- the qualitative methodology of studying consumers based on
psychological characteristics and traits such as values, desires, goals, interests, and
lifestyle choices.
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