Test 1 Flashcards
money owed by a company to a supplier.
Account Payable
money owed by a customer in a company
Accounts Receivable
Individuals that make small enterprise or to support an entrepreneur where they do not expect an immediate or large return on the investment. They are typically friends and family who know the business owner and want to see them succeed
Angel Investors
Something of value. Anything owed. a piece of paper that represents ownership in a something and is worth money
Assets
debt from the bank.
Bank Loans
a loan. a security that investors buy ans 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
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
Brokerage
Proper business behavior beyond complying with legal requirements
Business Ethics
Funds contributed by investors to a business. Investors contribute capital to a business they expect a significant return on their investment when the business succeeds
Capital (or Equity)
Expenditures own equipment the business will use for many years
Capital Expenditures
total revenue minus total cost minus one-time expenditures (called capital expenditure) on equipment that will be used for many years
Cash flow
cash, publicity traded stocks, government bonds, or corporate bonds that can be quickly turned into cash. Cash instruments can be turned into cash values that are predictable and available to all holders of the cash instrument
Cash Instruments
Equipment, inventory or other goods that are pledged to the bank in the case the company cannot make a loan
Collateral
the ability to interact in a friendly and effective way with unfamiliar people. The ability to seem welcoming and easy to talk to, even with people who are different in age, appearance, or background.
Comfort engaging with strangers
money earned when something is sold
Commission
a promise to keep information you learn secret. This promise is often by signing a Non-Disclosure Agreement or (NDA)
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 individual is serving them
Conflict of Interest
actions entrepreneurs and companies take that go beyond their financial self-interest. Ex. a local pet store makes a large donation to an animal shelter
Corporate Social Responsibility
unit price minus cost of goods sold
Contribution Margin
a corporation is a person in the eyes of the law. The corporation is taxed for profits and is liable for any debts or judgements
Corporation
costs that make up one unit of what you sell. These can be labor costs as well as material costs
Cost of Goods Sold
A loss that an insurance company will reimburse a policyholder for in the 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 Debit
- A person or a business with a strong credit score and the financial resources that make it likely hey will be able to pay any loan.
Credit-Worthiness
To obtain the regional micro-enterprise credential you must complete what five components?
- Self-assessment- complete two-part self-assessment
- Self-assessment presentation- presentation to an unfamiliar workplace adult
- Micro-Enterprise credit Application- Complete online credit application
- Company Registration- register a fictitious business on GeauxBiz student portal
- Credential Online Test- online certification exam
what does Micro-enterprise mean?
small business
Who are the creators of the micro-enterprise certification?
BRAC (Baton Rouge Area Chamber)
What is the online program that provides unlimited access to industry experts in all careers?
Nepris
