ESB Certification- Complete Exam Study
Guide 2026/2027 with Verified Answers |
Newest Version. A+
Acquisition Costs
Cost incurred by a business.
Angel Investor
An investor who provides funding to a business for a stake in the business in return.
Asset
A tangible item a business owns.
B2B
A business-to-business (B2B) commercial transaction between businesses.
B2C
A business-to-consumer (B2C) transaction.
Balance Sheet
A document that compares assets to liabilities plus owner's equity.
Bootstrapping
A business owner that uses their own money to fund their business.
Brand Recognition
The level of familiarity one has with a brand.
Break-Even Point
The point where a business's revenue matches its expenses over a given period.
Budget
The amount of money a business plans on spending during a given period.
Burn Rate
,A calculation used to measure a business's monthly cash flow.
Business Opportunity
A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable
business is feasible.
Business Plan
A document that addresses the concept, customers, and capital for a business.
C Corporation
A business structure that allows the company to pass its income, losses, deductions, and credits
through its shareholders to decrease their taxation.
CEO
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
The Chief Financial Officer (CFO) holds a leadership role within a business. The CFO oversees a
company's finances.
Collaboration
The action of working with one or more people toward a common goal.
Commission
A fee paid to an employee for completing a task.
Compensation
A monetary amount given to employees in return for their work.
Confidentiality Agreement
A signed agreement stating that an entity will not disclose information agreed upon by all
parties in an arrangement.
Contract
An agreement between an employee and a company outlining obligations and terms of
employment.
COO
, 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
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
Using one's mind to solve a problem in the best way by considering various potential solutions
to the problem.
Crowdfunding
The method of sharing a start-up business online to pre-sell products.
Customer
An individual or business that purchases goods and services from a business.
Customer Acquisition Cost
The total cost of acquiring a new customer.
Customer Retention
Activities or strategies employed by a business to retain existing customers.
Chamber of Commerce
A local agency with information on participating local businesses.
Demographics
Statistical data that refers to particular groups within a population.
Distribution Channel
A method used to get a product from the manufacturer to the end-users.
Employee
An individual hired by a company and compensated for their work.
Entrepreneur
An individual who aspires to start and run a successful business.
Guide 2026/2027 with Verified Answers |
Newest Version. A+
Acquisition Costs
Cost incurred by a business.
Angel Investor
An investor who provides funding to a business for a stake in the business in return.
Asset
A tangible item a business owns.
B2B
A business-to-business (B2B) commercial transaction between businesses.
B2C
A business-to-consumer (B2C) transaction.
Balance Sheet
A document that compares assets to liabilities plus owner's equity.
Bootstrapping
A business owner that uses their own money to fund their business.
Brand Recognition
The level of familiarity one has with a brand.
Break-Even Point
The point where a business's revenue matches its expenses over a given period.
Budget
The amount of money a business plans on spending during a given period.
Burn Rate
,A calculation used to measure a business's monthly cash flow.
Business Opportunity
A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable
business is feasible.
Business Plan
A document that addresses the concept, customers, and capital for a business.
C Corporation
A business structure that allows the company to pass its income, losses, deductions, and credits
through its shareholders to decrease their taxation.
CEO
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
The Chief Financial Officer (CFO) holds a leadership role within a business. The CFO oversees a
company's finances.
Collaboration
The action of working with one or more people toward a common goal.
Commission
A fee paid to an employee for completing a task.
Compensation
A monetary amount given to employees in return for their work.
Confidentiality Agreement
A signed agreement stating that an entity will not disclose information agreed upon by all
parties in an arrangement.
Contract
An agreement between an employee and a company outlining obligations and terms of
employment.
COO
, 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
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
Using one's mind to solve a problem in the best way by considering various potential solutions
to the problem.
Crowdfunding
The method of sharing a start-up business online to pre-sell products.
Customer
An individual or business that purchases goods and services from a business.
Customer Acquisition Cost
The total cost of acquiring a new customer.
Customer Retention
Activities or strategies employed by a business to retain existing customers.
Chamber of Commerce
A local agency with information on participating local businesses.
Demographics
Statistical data that refers to particular groups within a population.
Distribution Channel
A method used to get a product from the manufacturer to the end-users.
Employee
An individual hired by a company and compensated for their work.
Entrepreneur
An individual who aspires to start and run a successful business.
