micro-enterprise pt. 3 Flashcards
right to tale possession of collateral until a debt is repaid
lien
special type of corp where indiv. owners (/ members) r taxed on the profits of the comp. but the corp. (not the members) is liable for debt/ judgement against the comp.
limit liability corporation( LLC)
loan the provides the borrower a maximum amount of money he/she can borrow- borrower can access/ use that line of credit for only as much money they need @ any particular time
line of credit
cash/ securities that can be be immediately turned into cash , which can they repay any loan amount outstanding.
liquid assets
state agency that collects taxes
Louisiana dept. of Revenue
how a business communicates to large #s of customers, motivating them to learn more about the business & its offerings
marketing
person who coaches & supports an entrepreneur / a student studying to become an entrepreneur
mentor
date a loan is repaid in full
maturity
money a person borrows to buy real estate
mortage
investment security that includes many different stocks purchased & held together . Investors purchase mutual funds bc they r less risky than holding any indiv stocks
mutual fund
” net” means revenues after cost
net income
payment that is owed every month
obligation
debt obtained from a # of online comps. borrowers need to disclose much less info about themselves to obtain credit, & online credit comps make credit decisions much more quickly than banks. online credit is more expensive for borrowers than bank loans
online credit
when a comp issues a check make a financial commitment for an amount greater than than the amount the comp has deposited in the bank. “bounced check”
overdraft
cost that has a busi. incurs r not part of producing the goods/ services it sells, but which r required to operate legally & officially
overhead
owning an asset w/o any associated debt.
own “ free & clear”
when 2/more indiv. own a comp. partners r taxed on the profits of the comp & r personally liable for any debts/ judgments against the comp.
partnmership
amount of money borrowed
principal
Latin phrase ( for sake of form) that in busi means projection of future revenues & cost
Pro Forma
ability to find solutions to difficulty complex/ issues . process of working through the details of a challenge/ crisis- often under pressure - reach a solution
problem solving
revenue minus costs
profit
unit price minus costs of goods sold
profits per unit
most projection r for a year . A “ burrow” means 3 months. some busi make more quarterly reports
quater
