MicroEnterprise Study Guide 1 Flashcards
Regional Micro
enterprise Credential
What are the five steps to obtaining a Micro-Enterprise certification?
1-Self-Assessment 2-Self-Assessment presentation 3-Online credit application 4-Register a company with GeauxBiz 5-Credential online test
Means Small Business
Micro-Enterprise
Provide the majority of employment in Louisiana and the U.S.
Small businessess
What are the creators of the micro-enterprise certification?
Baton Rouge Area Chamber (Brac)
What Nepris means?
Online program that provides unlimited access to industry experts in all careers
Money owed by a company to a supplier.
Accounts Payable
Money owed by a customer to a company.
Accounts Receivable
individuals that make small investments in an enterprise or to support an entrepreneur where they do not expect an immediate or large return on the investment.
Angel Investors
Something of value, anything owned.
Assets
Debt from a bank
Bank Loan
A Loan.
Bond
A determination of how many units are needed to sell in order to pay for all fixed costs.
Breakeven Analysis
A company that provides individuals and companies with access to financial markets.
Borkerage
Proper business behavior beyond complying with legal requirements
Business Ethics
Funds contributed by investors to a business.
Capital (or equity)
Expenditures on equipment the business will use for many years.
Capital Expenditures
Total Revenue minus total cost minus one-time expenditures.
Cash Flow
Cash, publicly traded stocks, government bonds, or corporate bonds that can be quickly turned into cash.
Cash Instruments
Equipment, inventory or other goods that are pledged to the back in the case the company cannot make as loan payment.
Collateral
The ability to interact in a friendly and effective way with unfamiliar people.
Comfort Engaging with Strangers
Money earned when something is sold.
Comission
A promise to keep information you learn secret.
Confidentiality
A situation in which an individual might take an action to his/her advantage that would be to the disadvantage of a person or company that believes this individuals is serving them.
Conflict of Interest
Unit price minus cost of goods sold.
Contribution Margin
Actions entrepreneurs and companies take that go beyond their financial self-interest.
Corporate Social Responsibility
A person in the eyes of the law.
Corporation
Costs that make up one unit of what you sell.
Cost of goods sold
A loss that an insurance company will reimburse a policyholder for in he event of a claim.
Covered Loss
Funds lent to a business with an agreement that the business will repay the lender with interest.
Credit (or Debt)
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.
Credit-Worthiness
