ESB Certification Review Test

Front

Josie is a teenage girl who wants to start a jewelry-making business. Her target market is females, ages 10-14. What price should she charge per necklace that she sells?

Back

Between one and ten dollars

Front

Classify the following business as either direct or indirect competition: Cheerleading gym

Back

Direct competition

Front

Dependable employees

Back

Strength

Front

A key example of a __________ service many companies use is a software as a service (SaaS) platform. [Production Options]

Back

prebuilt

Front

A(n) _________________ refers to the net profit the company wants to make from the sale and is usually represented using a percentage. [Selling Price]

Back

profit margin

Front

A(n) ________________ is a financial report that shows a company's assets, liabilities, and equity for a specific period. [Basic Financial Statements]

Back

balance sheet

Front

The ______________ point is the amount of revenue required to cover expenses.

Back

break even

Front

What is Ben’s selling price for the limited-edition running shoes if the cost is $18 and he wants to make a 20% profit?

Back

$21.60

Front

What is Adam’s selling price for a new dish with a cost of $6.75 and a desired profit margin of 33%?

Back

$8.98

Front

What is Ashley’s equity if she has $26,000 in cash, $34,000 in inventory, a $4,600 credit card balance, and $7,900 in long-term debt?

Back

$47,500