ESB Exam Study Guide Latest Update
with Certified Solutions
Acquisition Cost ✔✔the cost of obtaining data that you don't have
Contingency costs ✔✔amount of money included to cover potential events that are not
specifically accounted for in a cost estimate
Variable Cost ✔✔a cost that rises or falls depending on how much is produced
fixed costs ✔✔costs that do not vary with production or sales level
pro forma ✔✔financial statement
Small Business Administration (SBA) ✔✔government agency that helps small business owners
develop business plans and obtain financing
Limited Liability Company (LLC) ✔✔a form of business ownership that offers both limited
liability to its owners and flexible tax treatment
, S cooperation ✔✔a small business entity that is created under state laws
liquid assets ✔✔cash and items that can be quickly converted to cash
Assets ✔✔resources owned by a business
dividend ✔✔The portion of corporate profits paid out to stockholders
liability ✔✔An amount owed by a business
Net Income ✔✔the difference between total revenue and total expenses when total revenue is
greater
shareholder ✔✔Individual who owns part of a corporation
account payable ✔✔money owed for products and services purchased on credit
with Certified Solutions
Acquisition Cost ✔✔the cost of obtaining data that you don't have
Contingency costs ✔✔amount of money included to cover potential events that are not
specifically accounted for in a cost estimate
Variable Cost ✔✔a cost that rises or falls depending on how much is produced
fixed costs ✔✔costs that do not vary with production or sales level
pro forma ✔✔financial statement
Small Business Administration (SBA) ✔✔government agency that helps small business owners
develop business plans and obtain financing
Limited Liability Company (LLC) ✔✔a form of business ownership that offers both limited
liability to its owners and flexible tax treatment
, S cooperation ✔✔a small business entity that is created under state laws
liquid assets ✔✔cash and items that can be quickly converted to cash
Assets ✔✔resources owned by a business
dividend ✔✔The portion of corporate profits paid out to stockholders
liability ✔✔An amount owed by a business
Net Income ✔✔the difference between total revenue and total expenses when total revenue is
greater
shareholder ✔✔Individual who owns part of a corporation
account payable ✔✔money owed for products and services purchased on credit
