study guide Flashcards
An internet phenomenon, where strangers learn about a business online and then decide whether or not to make an investment. They do not expect return on investment
Crowdfunding
The amount an insurance company makes a policyholder pay as part of a claim.
Deductible
Failure to repay a loan
Default
The commitment to get something done
Determination
Distinguishing a product or service “different than anything else” attracting customers, generating sales and serving as the foundation for a thriving business
Differentiated Offering
money paid by a company to a person who owns stock in that company. Dividends are optional- many companies do not pay dividends. Dividends are typically paid every three months
Dividend
A clear, concise and compelling way to describe a business or new business concept in 30 seconds.
Elevator Speech
open ended questions that prompt more than a “yes” or “no” answer
Engaging question
funds contributed to a business. Investors contribute capital to a business and expect a return on their investments when the business succeeds.
Equity or (Capital)
understanding how individuals and businesses earn money and what to spend money on.
Financial Literacy
The 12-month period a company uses to report financial results. A fiscal year can be the same as a calendar year or it can be any 12-month period that makes sense.
Fiscal Year
Cost that do not vary based on the units sold by the enterprise
Fixed Cost
A computer portal offered by Louisiana Sectary of state that enables entrepreneurs to go to a single source to learn which forms they need to file, the forms required by the sectary of state, and to determine which other government agencies they may need to interact with.
Geaux BIZ Portal
An individual’s self-commitment to overcome obstacles to achieve long-term goals. The ability to keep pursuing your dream despite challenges and defeats. Perseverance, resilience, and backbone.
Grit
A credit –worthy individual or business with sufficient liquidity that promises to repay a loan in the event that the debtholder can’t make a required payment.
Guarantor
A special account where individuals can deposit retirement funds that grow tax-deferred until they withdraw them after they retire. Advantages- there are no annual income taxes on any dividends or profitable sales the IRA makes.
Individual Retirement Account (IRA)
Debt owed to someone that is paid monthly. EX. Your car or truck payment, your credit card, and your mortgage are all paid in monthly installment payments.
Installment Payment
the amount an insurance policyholder receives from the insurance company to reimburse the policyholder for a covered loss.
Insurance Claim
- the individual or business that purchases an insurance policy for various types of protection.
Insurance Policyholder
The amount a policyholder pays for an insurance company
Insurance Premium
Non- physical assets created by individuals or companies that hold the exclusive legal rights to commercialize. Copyright, patent, Trademark
Intellectual Property
The federal agency that collects federal taxes and perform audits.
Internal Revenue Service (IRS)
- The merchandise that a company sells to customers
Inventory
A legal decision requiring a person or company to pay another person or company
Judgement
An obligation you have to pay someone else money. Also called a debt or loan.
Liability
