micro enterprise study guide 1 Flashcards
means small business
micro enterprise
what are the five steps to obtaining a micro enterprise certification ?
- Self assessment
- Self assessment presentation
- online credit
- register a company with GeauxBiz
- credential online test
Baton Rouge Area chamber are the creators of the micro – enterprise certification.
BRAC
Online program that provides unlimited access to industry experts in all careers
Nepris
money owed by a company to a supplier.
Accounts Payable
is this an example of accounts payable true or false ? I purchase $ 10,000 of beauty supplies from a distributor to put in my store. The distributor gives me 60 days to pay it back. The $10,000 is now in the accounts payable for my company meaning that I owe someone.
True
individuals that make small investments in an enterprise or to support an entrepreneur where they do not except immediate or large return on the investment. They are typically friends and family who know the business owner and wants to see them succeed
Angel investor
something of value. Anything owned.
Asset
A house, a diamond ring. A security is a financial asset – a piece of paper that represents ownership in something and is worth money
Example of a asset
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, before, bank loans are less expensive than online of credit
Bank Loan
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.
Bond
money owed by a customer to a company
Accounts Recievable
you purchased a new computer from me for 1,000. You put down 200 and signed a contract agreeing to pay the remaining $800 within the next 30 days. That 800 goes into accounts receivable in my company meaning someone owes my company$ 800.
Example of Accounts Receivable
a determination of how many units are needed to sell in order to pay for all fixed costs
Break-even Analysis
A company that provides individuals and companies with access to financial markets
Brokerage
you buy stocks and bond for a broker.
Example of Brokerage
Proper business behavior beyond complying with legal requirements
Business Ethics
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
Capital or (equality)
expenditures on equipment the business will use for many years
Capital expenditures
Total revenues minus total cost one- times expenditures (called “capital expenditures”) on equipment that will be used for many years
Cash Flow
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
Cash Instruments
Apple stock is a cash instrument because it can be sold and converted to cash immediately and the amount that anyone would get for that stock would be the same
Example of Cash Instruments
Equipment, inventory or other goods that are pledged to the banking incase the company cannot make a loan payment.
Collateral
The ability to interact in a friendly and effectively 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.
Comfort Engaging with Strangers
