ESB Certification Exam Review

Front

James owns a restaurant with beginning cash balance of $5,000, $30,000 in sales, $2,000 in utilities, $6,000 in loans and $4,000 in marketing. What is James ending cash balance?

Back

$24,800

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

$70,000 + 25\% of $70,000 = $70,000 + $17,500 = $87,500

Front

TRUE OR FALSE: Mortgage Payments are Long Term Liabilities

Back

TRUE

Front

a long term asset

Back

Equipment is considered a long term asset.

Front

Net Profit / Cost of Investment X 100

Back

ROI is calculated by ...

Front

Current Revenue for one month X 12

Back

Run Rate is calculated by ...

Front

Michelle owns a bakery shop. Her revenue at the end of last month was $6,000. What is Michelle's run rate?

Back

$72,000

Front

commission payments

Back

Which of the following is a variable expense?

Front

Anthony owns a bike shop. His monthly cost is $2,750.00. Each bike costs $275.00. How many bikes does he have to sell to break even?

Back

10

Front

How does an entrepreneur determine his / her selling price?

Back

Selling price = cost X desired profit margin + cost