ESB v2 Certification Vocab 2023/24 study guide answered
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Course
Esb
Institution
Esb
ESB V2 Certification Questions With Correct Answers.
Acquisition Costs - correct answer Cost incurred by a business.
Angel Investor - correct answer An investor who provides funding to a business
for a stake in the business in return.
Asset - correct answer A tangible item a business owns.
B2B...
ESB v2 Certification Vocab 2023/24
study guide answered
Acquisition Costs - correct answer Cost incurred by a business.
Angel Investor - correct answer An investor who provides funding to a business
for a stake in the business in return.
Asset - correct answer A tangible item a business owns.
B2B - correct answer A business-to-business (B2B) commercial transaction
between businesses.
B2C - correct answer A business-to-consumer (B2C) transaction.
Balance Sheet - correct answer A document that compares assets to liabilities
plus owner's equity.
Bootstrapping - correct answer A business owner that uses their own money to
fund their business.
Brand Recognition - correct answer The level of familiarity one has with a brand.
Break-Even Point - correct answer The point where a business's revenue
matches its expenses over a given period.
Budget - correct answer The amount of money a business plans on spending
during a given period.
Burn Rate - correct answer A calculation used to measure a business's monthly
cash flow.
Business Opportunity - correct answer A situation an entrepreneur analyzes and
evaluates to see if starting a sustainable, profitable business is feasible.
Business Plan - correct answer A document that addresses the concept,
customers, and capital for a business.
C Corporation - correct answer A business structure that allows the company to
pass its income, losses, deductions, and credits through its shareholders to
decrease their taxation.
CEO - correct answer The Chief Executive Officer (CEO) holds a leadership role
within a business. The CEO oversees a business's operations and resources and
makes the major decisions for the company.
CFO - correct answer The Chief Financial Officer (CFO) holds a leadership role
within a business. The CFO oversees a company's finances.
Collaboration - correct answer The action of working with one or more people
toward a common goal.
Commission - correct answer A fee paid to an employee for completing a task.
Compensation - correct answer A monetary amount given to employees in
return for their work.
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, ESB v2 Certification Vocab 2023/24
study guide answered
Confidentiality Agreement - correct answer A signed agreement stating that an
entity will not disclose information agreed upon by all parties in an arrangement.
Contract - correct answer An agreement between an employee and a company
outlining obligations and terms of employment.
COO - correct answer The Chief Operating Officer (COO) holds a leadership role
within a business. The COO is responsible for overseeing the day-to-day
administrative and operational functions of a business.
Copyright - correct answer A form of protection individuals can implement to
protect their intellectual property. Copyright is designated for print, music, film,
and various other forms of creative licenses.
Critical Thinking - correct answer Using one's mind to solve a problem in the best
way by considering various potential solutions to the problem.
Crowdfunding - correct answer The method of sharing a start-up business online
to pre-sell products.
Customer - correct answer An individual or business that purchases goods and
services from a business.
Customer Acquisition Cost - correct answer The total cost of acquiring a new
customer.
Customer Retention - correct answer Activities or strategies employed by a
business to retain existing customers.
Chamber of Commerce - correct answer A local agency with information on
participating local businesses.
Demographics - correct answer Statistical data that refers to particular groups
within a population.
Distribution Channel - correct answer A method used to get a product from the
manufacturer to the end-users.
Employee - correct answer An individual hired by a company and compensated
for their work.
Entrepreneur - correct answer An individual who aspires to start and run a
successful business.
Equity - correct answer Non-cash compensations offered to employees in place
of or in addition to a lower salary.
Ethical Practices - correct answer Standards of professional conduct
professionals should uphold.
Fixed Costs - correct answer Costs a business has that remain the same no
matter the volume of production.
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