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entrepreneurship > micro enterprise study 1 > Flashcards

micro enterprise study 1 Flashcards

1
Q

what are the 5 steps of micro-enterprise credential?

A

self-assessment, self-assessment presentation, micro-enterprise credit application, company registration, credential online test

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2
Q

what is the definition of BRAC and what does it do?

A

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

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3
Q

what is the definition of nepris ?

A

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

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4
Q

money owed by a company to a supplier is called what?

A

accounts payable

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5
Q

money owed by a customer to a company is called what ?

A

accounts receivable

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6
Q

individual that make small investments in an enterprise or to support an enterpreneur where they do not expect an immediate or large return on the investment, but they are typically friends and family who know the business owner and want to see them succeed is called what?

A

angel investors

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7
Q

something of value. anything owned is called what?

A

asserts

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8
Q

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 is called what?

A

bank loan

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9
Q

security that investors buy & sell that represents legal obligation from the company issuing the bond that they will repay the funds they received when they issued the bond is called what?

A

bond

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10
Q

determine of how many units are needed to sell in order to pay for all fixed costs is called what?

A

breakeven analysis

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11
Q

company that provides individuals and companies with access to financial markets is called what?

A

brokeage

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12
Q

proper business behavior beyond complying with legal requirements is called what?

A

business ethics

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13
Q

expenditures or equiment the business will use for many years is called what?

A

capital expenditures

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14
Q

money earned when something is sold is called what?KEYWORDS-money earned and sold

A

commission

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15
Q

ability to interact in a friendly and effective way with unfamiliar people, ability to seem welcoming and easy to talk to, even with people who are different age, appearance, or background is called what? KEYWORDS-friendly and effective way in unfamiliar people

A

comfort engaging with strangers

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16
Q

funds contributed by investors to a business, investor s contribute capital to business because they expect a significant return on their investment when the business succeed is called what? KEYWORDS-investors contribute CAPITAL

A

capital

17
Q

total revenues- total cost- one time expenditures on equipment that will be used for many years is called what? KEYWORDS-total revenues-total costs-one time expenditures

A

cash flow

18
Q

publicly traded stock, got bonds, corporate bonds that can be quickly turned into cash is called what?KEYWORDS- bonds into cash

A

cash instruments

19
Q

equipment, inventory, and other goods that are pledged to the banking the case the company cannot make a loan payment is called what? KEYWORDS-company CANNOT make a loan payment

A

collateral

20
Q

a promise to keep into you learn secret, promise is often formalized by signing a non-disclosure agreement ( NDA )what is it called? KEYWORDS-learn to keep a secret

A

confidentiality

21
Q

a person in the eyes of the law, taxed for profit and is liable for any debt/eidgements, owned by shave holders(individuals/other corporations).what is it called? KEYWORDS-debt/eidgement

A

corporation

22
Q

insurance company will reimburse policy holder for in the event of a claim.what is it called? KEYWORDS-reimburse policy holder

A

covered loss

23
Q

funds lent to a business company with an agreement that the business will repay the lender with interest. what is it called? KEYWORDS-repay lender with interest

A

credit/ debt

24
Q

worthiness- person/business with a strong credit score and financial resources that make it likely they will be able to repay you. what is it called? KEYWORDS-strong credit scores

A

credit

25
Q

cost that make up one unit of what you sell, these can be labor cost as well as material costs. what is it called? KEYWORDS-labor cost

A

cost of goods sold

26
Q

situation in which a individual might take an action on his/her advantage that would be to the disadvantage of a person/ company that believes this individual is serving them. what is it called? KEYWORDS-disadvantage and advantage

A

conflict of interest

27
Q

price-cost of goods sold

A

contribution margin

28
Q

action entrepreneurs and company take that go beyond their financial self-interest. what is it called?

A

corporate social responsibility

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