MicroEnterprise Study Guide 1

Question 1

Regional Micro

Answer 1

enterprise Credential

Question 2

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

Answer 2

1-Self-Assessment
2-Self-Assessment presentation
3-Online credit application
4-Register a company with GeauxBiz
5-Credential online test

Question 3

Means Small Business

Answer 3

Micro-Enterprise

Question 4

Provide the majority of employment in Louisiana and the U.S.

Answer 4

Small businessess

Question 5

What are the creators of the micro-enterprise certification?

Answer 5

Baton Rouge Area Chamber (Brac)

Question 6

What Nepris means?

Answer 6

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

Question 7

Money owed by a company to a supplier.

Answer 7

Accounts Payable

Question 8

Money owed by a customer to a company.

Answer 8

Accounts Receivable

Question 9

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.

Answer 9

Angel Investors

Question 10

Something of value, anything owned.

Answer 10

Assets

Question 11

Debt from a bank

Answer 11

Bank Loan

Question 12

A Loan.

Answer 12

Bond

Question 13

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

Answer 13

Breakeven Analysis

Question 14

A company that provides individuals and companies with access to financial markets.

Answer 14

Borkerage

Question 15

Proper business behavior beyond complying with legal requirements

Answer 15

Business Ethics

Question 16

Funds contributed by investors to a business.

Answer 16

Capital (or equity)

Question 17

Expenditures on equipment the business will use for many years.

Answer 17

Capital Expenditures

Question 18

Total Revenue minus total cost minus one-time expenditures.

Answer 18

Cash Flow

Question 19

Cash, publicly traded stocks, government bonds, or corporate bonds that can be quickly turned into cash.

Answer 19

Cash Instruments

Question 20

Equipment, inventory or other goods that are pledged to the back in the case the company cannot make as loan payment.

Answer 20

Collateral

Question 21

The ability to interact in a friendly and effective way with unfamiliar people.

Answer 21

Comfort Engaging with Strangers

Question 22

Money earned when something is sold.

Answer 22

Comission

Question 23

A promise to keep information you learn secret.

Answer 23

Confidentiality

Question 24

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.

Answer 24

Conflict of Interest

Question 25

Unit price minus cost of goods sold.

Answer 25

Contribution Margin

Question 26

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

Answer 26

Corporate Social Responsibility

Question 27

A person in the eyes of the law.

Answer 27

Corporation

Question 28

Costs that make up one unit of what you sell.

Answer 28

Cost of goods sold

Question 29

A loss that an insurance company will reimburse a policyholder for in he event of a claim.

Answer 29

Covered Loss

Question 30

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

Answer 30

Credit (or Debt)

Question 31

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 31

Credit-Worthiness