Business Terms

Question 1

money owed by a company to a supplier.

Answer 1

Accounts Payable

Question 2

Money owed by a customer to a company

Answer 2

Accounts Receivable

Question 3

individuals that make small investments in an enterprise or to support an entrepreneur where they do not expect an immediate or large return on the investment. They are typically friends and family who know the business owner and want to see them succeed

Answer 3

Angel Investors

Question 4

Something of value, anything owned.

Answer 4

Assets

Question 5

Debt from a bank. Banks require much more information from potential borrowers and take more time to make a lending decision based on a great deal of analysis. Therefore, bank loans are less expensive than online lines of credit

Answer 5

Bank Loan

Question 6

a loan. A bond is a security that investors buy and sell, that represents a legal obligation from the company issuing the bond that they will repay the funds they received when they issued the bond.

Answer 6

Bond

Question 7

A determination of how many units are needed to sell in order to pay for all fixed.

Answer 7

Break Even Analysis

Question 8

A company that provides individuals and companies with access to financial markets.

Answer 8

Brokerage

Question 9

Proper business behavior beyond complying with legal requirements.

Answer 9

Business Ethics

Question 10

funds contributed by investors to a business. Investors contribute capital to a business because they expect a significant return on their investment when the business succeeds.

Answer 10

Capital (or equity)

Question 11

Expenditures on equipment the business will use for many years.

Answer 11

Capital Expenditures

Question 12

Total Revenue minus Total cost minus one-time expenditures (called “capital expenditures”) on equipment that will be used for many years.

Answer 12

Cash Flow

Question 13

cash publicly traded stocks, government bonds or corporate bonds that can be quickly turned into cash. Cash instruments can be turned into cash at values that are predictable and available to all holders of the cash instrument.

Answer 13

Cash Instruments

Question 14

Equipment inventory or other goods that are pledged to the bank in the case the company cannot make a loan payment

Answer 14

Collateral

Question 15

The ability to interact in a friendly and effective way with unfamiliar people. The ability to seem welcoming and easy to talk to even with people who are different in age appearance background

Answer 15

Comfort Engaging with Strangers

Question 16

money earned when something is sold.

Answer 16

Commision

Question 17

a promise to keep information you learn secret. This promise is often formalized by signing a Non-Disclosure Agreement.

Answer 17

Confidentiality

Question 18

A situation in which an individual might take an action to his/her advantage that would be to the disadvantage of a person or company that believes this individual is serving them.

Answer 18

Conflict of Interest

Question 19

unit price minus cost of goods sold.

Answer 19

Contribution Margin

Question 20

actions entrepreneurs and companies take that go beyond their financial self interest.

Answer 20

Corporate Social Responsibility

Question 21

complete two part self assessment

Answer 21

Self-assessment

Question 22

presentation to an unfamiliar workplace adult

Answer 22

Self-assessment presentation

Question 23

complete online credit application

Answer 23

Micro-Enterprise Credit application

Question 24

register a fictitious business on GeauxBiz student portal

Answer 24

Company registration

Question 25

online certification exam.

Answer 25

Credential Online Test

Question 26

means small business

Answer 26

Micro-Enterprise

Question 27

Baton Rouge Area Chamber are the creators of the micro-enterprise certification.

Answer 27

BRAC

Question 28

online program that provides unlimited access to industry experts in all careers.

Answer 28

Nepris