ESB Exam Study Guide QUESTIONS AND ANSWERS(SCORES 100%)
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ESB
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ESB
ESB Exam Study Guide
Acquisition Cost Correct Answer: the cost of obtaining data that you don't have
Contingency costs Correct Answer: amount of money included to cover potential events that are not specifically accounted for in a cost estimate
Variable Cost Correct Answer: a cost tha...
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ESB Exam Study Guide
Acquisition Cost Correct Answer: the cost of obtaining data that you don't have
Contingency costs Correct Answer: amount of money included to cover potential events that are not
specifically accounted for in a cost estimate
Variable Cost Correct Answer: a cost that rises or falls depending on how much is produced
fixed costs Correct Answer: costs that do not vary with production or sales level
pro forma Correct Answer: financial statement
Small Business Administration (SBA) Correct Answer: government agency that helps small business
owners develop business plans and obtain financing
Limited Liability Company (LLC) Correct Answer: a form of business ownership that offers both limited
liability to its owners and flexible tax treatment
S cooperation Correct Answer: a small business entity that is created under state laws
liquid assets Correct Answer: cash and items that can be quickly converted to cash
Assets Correct Answer: resources owned by a business
dividend Correct Answer: The portion of corporate profits paid out to stockholders
liability Correct Answer: An amount owed by a business
Net Income Correct Answer: the difference between total revenue and total expenses when total
revenue is greater
shareholder Correct Answer: Individual who owns part of a corporation
account payable Correct Answer: money owed for products and services purchased on credit
Accounts Receivable Correct Answer: Amounts to be received in the future due to the sale of goods or
services
Angel Investors Correct Answer: individuals who invest in start-up companies with high growth
potential in exchange for a share of ownership
Bonds Correct Answer: Certificates of debt that carry a promise to buy back the bonds at a higher price
Capital/Equity Correct Answer: Funds contributed by investors to a business.
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