MESG 1 Flashcards
Study
What is the first step of Self Assessment?
To complete a two part assessment.
What is a Self Assessment Presentation?
Presentation to an unfamiliar work place adult.
What needs to be completed for the micro enterprise credit application?
An online credit application.
What is to be done when it comes to Company Registration?
You register a fictitious business on GeauxBiz student portal.
What is the Credential Online Test?
Its the online certification exam.
Micro Enterprise means?
Small Business.
What provides the majority of employment in Louisiana and the U.S.?
Small Business.
What is B-R-A-C?
Baton Rouge Area Chamber.
What is Nepris?
An online program that provides unlimited access to industry experts in all careers.
What are Accounts Payable?
Money owed to a company or supplier. Ex. $10,000 being owed to a company you bought stuff from.
What are Accounts Receivable?
Payment to the money that’s going out of the businesses.
Whats an Angel Investor?
Individuals that make small investments in an enterprise or to support an entrepreneur where they do not expect anything extra in return.
Whats an Asset?
An item of Value.
Whats a Bank Loan?
Debt from a bank.
Whats a Bond?
A security that investors buy and sell, that represents a legal obligation.
Whats a Break Even Analysis?
A determination of how many units are needed to sell in order to pay for all fixed costs.
Whats a Brokerage?
A company that provides individuals and companies with access to financial markets. Ex. You buy stocks and bonds from a broker.
What are Business Ethics?
Proper business behavior beyond complying with legal requirements.
What is Capital or Equity?
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.
what are Capital Expenditures?
Expenditures on equipment the business will use for many years.
What is Cash Flow?
Total Revenue minus total costs minus one time expenditures.
what is Collateral?
Equipment, inventory, other goods.
What are Cash Instruments?
Cash, Publicly traded stocks, government bonds, or corporate bonds.
What is Comfort Engaging with Strangers?
The ability to interact in a friendly way and effective way with unfamiliar people.
What is commission?
Money earned when something is sold.
What is Confidentiality?
A promise to keep things confidential.
What is conflict of Interest?
A situation where someone takes action to his or her advantage that would be a disadvantage of a person or company.
What is Contribution Margin?
Price minus cost of goods sold.
What is Corporate Social Responsibility?
Actions entrepreneurs and companies take that go beyond their financial self.
Whats a Corporation?
A corporation is a a person or company in the eyes of the law.
What is Cost of Goods Sold?
Costs that make up one unit of what you sell.
What is Covered loss?
A loss that an insurance company will repay the person in the event of a claim.
What is Credit or Debt?
Funds given to a business with an agreement that the business will repay the lender with interest.
What is Credit Worthiness?
A person or business with a strong credit score.
