ESB Certification Review Test #2

Front

What is James' ending cash balance if he has a beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans, and $4,000 in marketing?

Back

$23,000

Front

Shelly owns a car dealership. She just received a shipment of Teslas and paid $70,000 for each one and wants to make 25%. What should her selling price be?

Back

$87,500

Front

TRUE OR FALSE: Mortgage Payments are Long Term Liabilities

Back

TRUE

Front

ROI is calculated by ...

Back

Net Profit / Cost of Investment X 100

Front

Run Rate is calculated by ...

Back

Current Revenue for one month X 12

Front

What is Michelle's run rate if her revenue at the end of last month was $6,000?

Back

$72,000

Front

How many bikes does Anthony have to sell to break even if his monthly cost is $2,750.00 and each bike costs $275.00?

Back

10

Front

How does an entrepreneur determine his / her selling price?

Back

selling price = cost X desired profit margin + cost

Front

TRUE OR FALSE: Equity = Assets + Liabilities

Back

FALSE

Front

________ is the owner's remaining value after all liabilities have been deducted.

Back

Equity