study guide

Question 1

means small business

Answer 1

Micro-enterprise

Question 2

Baton Rouge Area of Chamber

Answer 2

BRAC

Question 3

money owned by a company to a supplyer

Answer 3

Accounts Payable

Question 4

money owed by a customer to a company

Answer 4

Accounts Receivable

Question 5

Individuals that make small investments in an enterprise or to support a entrepreneur where they do not expect return on investment.

Answer 5

Angel Investors

Question 6

Something of value. anything owned

Answer 6

Assets

Question 7

debt from a bank. Bank loans are less expensive than online loans of credit.

Answer 7

Bank loan

Question 8

a loan Security that investors buy and sell

Answer 8

Bond

Question 9

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

Answer 9

Break-even Analysis

Question 10

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

Answer 10

Brokerage

Question 11

proper business behavior beyond complying with legal requirements

Answer 11

Business Ethics

Question 12

Funds contributed by investors to a business. they expect money back when the business succeds

Answer 12

Capital ( or Equity)

Question 13

Expenditures or equipment that will be used for many years

Answer 13

Capital Expenditures

Question 14

Total Revenues minus total cost minus one-time Expenditures that will be used for many years

Answer 14

Cash Flow

Question 15

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

Answer 15

Cash instruments

Question 16

Equipment, inventory or other goods that are pledged to the bank if a loan payment is missed

Answer 16

Collateral

Question 17

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

Answer 17

comfort Engaging with strangers

Question 18

money earned when something is sold

Answer 18

Commission

Question 19

a promise to keep information a secret. usually signing a NDA.

Answer 19

Confidentiality

Question 20

A situation in which an individual might take an action to his/her advantage that would be a disadvantage to someone else.

Answer 20

Conflict of Interest

Question 21

Price minus cost of goods sold

Answer 21

Contribution margin

Question 22

Actions entrepreneurs and companies take that goes beyond self-intrest

Answer 22

Corporate Social Responsibility

Question 23

A corporation is a person in the eyes of the law, it is taxed for profits and is liable for any debts or judgments.

Answer 23

Corporation

Question 24

Cost that make up one unit of what you sell

Answer 24

Cost of goods sold

Question 25

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

Answer 25

Covered Loss

Question 26

Funds lent to a business with an agreement that the business will repay with intrest

Answer 26

Credit (or Debit)

Question 27

A person or business with a strong credit score so they will be able to repay any loan.

Answer 27

Credit-worthiness