ESB Vocabulary 100% Correct

ESB Vocabulary 100% Correct Break Even Point ✔✔the point at which the costs of producing a product equal the revenue made from selling the product Break Even Formula ✔✔Break Even Point = Fixed Costs/Selling Price-Vari ...

ESB Vocabulary 100% Correct Break Even Point ✔✔the point at which the costs of producing a product equal the revenue made from selling the product Break Even Formula ✔✔Break Even Point = Fixed Costs/Selling Price-Variable Cost Driving Sales ✔✔a special effort to sell more of a product or service, for example by increasing advertising Inventory Loan ✔✔a secured short-term loan to purchase inventory Operating Loan ✔✔A loan that is intended for short-term financing. This type of loan is often used for cash flow support or to cover operating expenses from day to day. Tenacious ✔✔persistent, resolute Competency ✔✔the ability to do something successfully or efficiently Non-Profit Organization ✔✔A business whose goal is to provide a service rather than to make a profit Storefront ✔✔The exterior of a business that includes a store's sign or logo, marquee, outdoor lighting, banners, planters, awnings, windows, the exterior design, ambiance, landscaping, and lighting of the building Tax Liability ✔✔the total amount of taxes owed Demographic ✔✔having certain characteristics in common, such as age, race, or gender Behavioral ✔✔involving, relating to, or emphasizing behavior Psychographic ✔✔the study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research. Geographic ✔✔of or relating to the natural features, population, industries, etc. of a region Angel Investors ✔✔individuals who invest in start-up companies with high growth potential in exchange for a share of ownership Initial Public Offering ✔✔the first time a company issues stock that may be bought by the general public electronic point of sale system ✔✔can help small businesses like yours manage your business more effectively, and improve your customers' experience with you. Management Buyout ✔✔Acquisition of the firm by its own management in a leveraged buyout Patent ✔✔exclusive rights over an invention; copyright Copyright ✔✔the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same. Trademark ✔✔A brand that has exclusive legal protection for both its brand name and its design Invention ✔✔A new product, system, or process that has never existed before, created by study and experimentation. Intellectual Property Rights ✔✔The legal protection of the original works of inventors, authors, creators, and performers under patent, copyright, and trademark law Variable Costs ✔✔costs that vary with the quantity of output produced fixed costs ✔✔Costs that do not vary with the quantity of output produced Harvesting ✔✔entrepreneur recovers value gained by the entity through the selling of individual assets or the entire firm as a whole. Outsourcing ✔✔A decision by a corporation to turn over much of the responsibility for production to independent suppliers. Chamber of Commerce ✔✔a local association to promote and protect the interests of the business community in a particular place Zoning Variance ✔✔an exception to the zoning ordinance applied to a particular piece of property Permit ✔✔an authoritative or official certificate of permission License ✔✔a permit from an authority to own or use something, do a particular thing, or carry on a trade certificate ✔✔A written statement that is accepted as proof of certain facts; often relating to the attainment of specific skills. IRS (Internal Revenue Service) ✔✔US government agency that is responsible for the collection and enforcement of taxes Unique Selling Proposition ✔✔a desirable, exclusive, and believable advertising appeal selected as the theme for a campaign Value Proposition ✔✔refers to the value a company promises to deliver to customers should they choose to buy their product LLC (Limited Liability Company) ✔✔Limited liability, pass through income taxation, flexibility Sole Proprietorship ✔✔a business owned and managed by a single individual Corporation ✔✔A business owned by stockholders who share in its profits but are not personally responsible for its debts Limited Liability ✔✔A form of business ownership in which the owners are liable only up to the amount of their individual investments. Liability ✔✔something a person or company owes, usually a sum of money Book Value ✔✔equal to the cost of carrying an asset on a company's balance sheet, and firms calculate it netting the asset against its accumulated depreciation Annual Earnings ✔✔Money made each year Cost of Goods Sold (COGS) ✔✔the cost of the merchandise inventory that the business has sold to customers