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Micro-Enterprise > Test 1 > Flashcards

Test 1 Flashcards

1
Q

Complete two part-self assessment

A

Self-assessment

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2
Q

Presentation to a unfamiliar workplace adult.

A

Self-assessment presentation

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3
Q

Complete online credit application.

A

Micro-Enterprise Credit Application

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4
Q

Register a fictitious business on GeauxBiz student portal.

A

Company Registration

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5
Q

online certification exam.

A

Credential Online Test

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6
Q

small business

A

Micro-Enterprise

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7
Q

Baton Rouge Area Chamber are the creators of the micro-enterprise certification

A

BRAC

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8
Q

online program that provides unlimited access to industry experts in all careers.

A

Nepris

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9
Q

money owned by a company to a supplier

A

Accounts Payable

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10
Q

money owned by a customer to a company

A

Accounts Recievable

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11
Q

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.

A

Angel Investors

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12
Q

something of value, anything owned (ex: house, diamond ring)

A

Assets

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13
Q

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

A

Bank Loan

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14
Q

a loan. 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.

A

Bond

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15
Q

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

A

Breakeven Analysis

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16
Q

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

A

Brokerage

17
Q

proper business behavior beyond complying with legal requirements

A

Business Ethics

18
Q

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.

A

capital (or equity)

19
Q

expenditures on equipment the business will use for many years

A

Capital Expenditures

20
Q

total revenues minus total cost minus one-time expenditures (called “capital expenditures) on equipment that will be used for many years

A

Cash Flow

21
Q

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

A

Cash Instruments

22
Q

equipment, inventory or other goods that are pledged to the bank in the case the company cannot make a loan payment

A

Collateral

23
Q

the ability to interact in a friendly and effect way with unfamiliar people.

A

Comfort Engaging with Strangers

24
Q

money earned when something is sold

A

Commission

25
Q

a promise to keep information you learn secret. This promise is often formalized by signing a Non-Disclosure Agreement (or DNA)

A

Confidentiality

26
Q

a situation in which an individual might take an action to his/her advantage that would be the disadvantage of a person or company that believes this individual is serving them

A

Conflict of Interest

27
Q

unit price minus cost of good sold

A

Contribution Margin

28
Q

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

A

Corporate Social Responsibility

29
Q

a corporation is a person in the eyes of the law. The corporation is taxed for profits and is liable for any debts or judgments. Corporations are owned by shareholders (individuals or other corporations).

A

Corporation

30
Q

costs that make up one unit of what you sell. These can be labor costs as well as material costs. Ex. When you sell a hat, the variable costs includes: the hat’s material and the labor cost required to make the hat.

A

Cost of Goods Sold

31
Q

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

A

Covered Loss

32
Q

funds let to a business with an agreement that the business will repay the lender with interest

A

Credit (or Debt)

33
Q

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.

A

Credit-Worthiness

34
Q

what are the five components you must complete to obtain the regional micro-enterprise certification?

A 
self assessment
self assessment presentation
micro-enterprise credit application
company registration on geauxbiz student portal
online credential test

Micro-Enterprise (1 decks)

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