Entrepreneurship and Small Business Certification Vocabulary UPDATED Actual Exam Questions and CORRECT Answers
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Course
Entrepreneurship and Small Business
Institution
Entrepreneurship And Small Business
Entrepreneurship and Small Business
Certification Vocabulary UPDATED Actual
Exam Questions and CORRECT Answers
Acquisition Costs - CORRECT ANSWER- Costs incurred by a business
Angel Investor - CORRECT ANSWER- An investor who provides funding to a business
for a stake in the business in retu...
Entrepreneurship and Small Business
Certification Vocabulary UPDATED Actual
Exam Questions and CORRECT Answers
Acquisition Costs - CORRECT ANSWER✔✔- Costs 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
Balance Sheet - CORRECT ANSWER✔✔- A document that compares assets to liabilities
plus owner's equity
Brand Recogition - CORRECT ANSWER✔✔- The level of familiarity one has with a brand
Bootstrapping - CORRECT ANSWER✔✔- A business owner that uses their own money to
fund their business
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 business
B2B - CORRECT ANSWER✔✔- A business-to-business commercial transaction between
businesses
B2C - CORRECT ANSWER✔✔- A business-to-consumer transaction
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 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 holds a leadership role within
a business; the CFO oversees the company's finances
COO - CORRECT ANSWER✔✔- The Chief Operating Officer holds a leadership role
within a business; the COO is responsible for overseeing the day-to-day administrative and
operational functions of a business
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
Chamber of Commerce - CORRECT ANSWER✔✔- A local agency with information on
participating local businesses
Collaboration - CORRECT ANSWER✔✔- The action of working with one or more people
towards a common goal
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