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ESB Exam Study Guide Questions and Answers 100% Correct | Updated 2024
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ESB Exam Study Guide Questions and Answers 100% Correct | Updated 2024
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ESB Exam Study Guide Questions andAnswers 100% Correct | Updated 2024
What is entrepreneurship? - ANSWER Setting up a business with the aim to
make a profit.
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
Limited Liability Company (LLC) - ANSWER a form of business ownership that
offers both limited liability to its owners and flexible tax treatment
Small Business Administration (SBA) - ANSWER government agency that helps
small business owners develop business plans and obtain financing
fixed costs - ANSWER costs that do not vary with production or sales level
Variable Cost - ANSWER a cost that rises or falls depending on how much is
produced
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
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