micro enterprise Study Guide 1

Question 1

means small business

Answer 1

Micro-Enterprise

Question 2

what are the five steps to obtaining a Micro-Enterprise certification?

Answer 2

1. Self- assessment
2. Self-assessment presentation
3. Mirco-Enterprise Credit Application
4. Company Registration
5. Credential Online Test

Question 3

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, or background

Answer 3

Comfort Engaging With Strangers

Question 4

money earned when something is sold

Answer 4

Commission

Question 5

a promise to keep information you learn secret. this promise is often formalized by signing a non-disclosure agreement (or NDA)

Answer 5

Confidentiality

Question 6

Baton Rouge Aera Chamber are the creators of the micro-enterprise certification

Answer 6

BRAC

Question 7

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

Answer 7

Nepris

Question 8

money own by a company to a supplier.

Answer 8

Accounts Payable

Question 9

money owed by a customer to a company

Answer 9

Accounts Receivable

Question 10

individuals that make small investment in an enterprise or to support an enterprise were they do not expect an immediate or large return on the investment

Answer 10

Angel Investors

Question 11

something of value.anything owned

Answer 11

Assests

Question 12

debt from a bank. bank require much more information from potential borrowers

Answer 12

Bank Loan

Question 13

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

Answer 13

Bond

Question 14

a determination of how many units are needed to sell in order to pay for all fixed costs

Answer 14

Breakeven Analysis

Question 15

a company that provides individuals and companies with access to financial markets

Answer 15

Brokerage

Question 16

proper business behavior beyond complying with legal requirements

Answer 16

Business Ethics

Question 17

funds contributes by investors to an business because they expect a significant return on their investment when the business succeeds

Answer 17

Capital (or Equity)

Question 18

expenditures on equipment the business will use for many years

Answer 18

Capital Expenditures

Question 19

total revenuers minus total cost minus one-time expenditures ( called “capital expenditures”)

Answer 19

Cash Flow

Question 20

cash publicly traded socks,government bonds, or corporate bonds that can be quickly turned into cash

Answer 20

Cash Investment

Question 21

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

Answer 21

Collateral

Question 22

a situation in which an individual might take an action to his/her advantage

Answer 22

Conflict of Interest

Question 23

complete two-part

Answer 23

Self Assessment

Question 24

presentation to an unfamiliar workplace adults

Answer 24

Self Assessment Presentation

Question 25

complete online credit application

Answer 25

Micro-Enterprise Credit Application

Question 26

register a fictitious business on GeauxNBiz

Answer 26

Company Registration

Question 27

online certification exam

Answer 27

Credential Online Test

Question 28

price minus costs of goods sold

Answer 28

Contribution Marquin

Question 29

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

Answer 29

Corporate Social Responsibility

Question 30

a corporation is a person in the eyes of the law

Answer 30

Corporation

Question 31

costs that make up one unit of what you sell. these can be labor costs as well as material costs

Answer 31

Cost of Goods Sold

Question 32

a loss that an insurance company will reimburse a policyholder for in the event of a claim

Answer 32

Cover Cost

Question 33

funds lent to a business with an agreement that the business will repay the lender with interest

Answer 33

Credit or Debt

Question 34

a person or a business with a strong credit score and the financial resources that make it likely they will be able to repay any loan

Answer 34

Credit Worthiness