ESB Exam Study Guide Questions and Answers 2023
Acquisition Cost
the cost of obtaining data that you don't have
Contingency costs
amount of money included to cover potential events that are not specifically accounted for in a cost estimate
Variable Cost
a cost that rises or falls ...
acquisition cost the cost of obtaining data that you dont have
fixed costs costs that do not vary with production or sales level
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ESB Exam Study Guide Questions and
Answers 2023
Acquisition Cost - answer the cost of obtaining data that you don't have
Contingency costs - answer amount of money included to cover potential events that
are not specifically accounted for in a cost estimate
Variable Cost - answer a cost that rises or falls depending on how much is produced
fixed costs - answer costs that do not vary with production or sales level
pro forma - answer financial statement
Small Business Administration (SBA) - answer government agency that helps small
business owners develop business plans and obtain financing
Limited Liability Company (LLC) - answer a form of business ownership that offers
both limited liability to its owners and flexible tax treatment
S cooperation - answer a small business entity that is created under state laws
liquid assets - answer cash and items that can be quickly converted to cash
Assets - answer resources owned by a business
dividend - answer The portion of corporate profits paid out to stockholders
liability - answer An amount owed by a business
Net Income - answer the difference between total revenue and total expenses when
total revenue is greater
shareholder - answer Individual who owns part of a corporation
account payable - answer money owed for products and services purchased on
credit
Accounts Receivable - answer Amounts to be received in the future due to the sale
of goods or services
Angel Investors - answer individuals who invest in start-up companies with high
growth potential in exchange for a share of ownership
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