test 1

Question 1

money owned by a company to a supplier

Answer 1

accounts payable

Question 2

money owed by a customer to company

Answer 2

accounts receivable

Question 3

individuals that makes small investments in an enterprise / to support an entrepreneur where they do not expect an immediate / large return to the investment

Answer 3

angel investor

Question 4

something of value

Answer 4

assets

Question 5

debt from a bank

Answer 5

bank loan

Question 6

a loan

Answer 6

bond

Question 7

determination of how many units r needed to sell in order to pay for all fixes costs

Answer 7

breakeven analysis

Question 8

company that provides individuals & companies w/ access to financial markets

Answer 8

brokerage

Question 9

proper business behavior beyond complying with legal requirements

Answer 9

business ethics

Question 10

funds contributed by investors to a business

Answer 10

capital(equity)

Question 11

expenditures on equipment the business will use for many years

Answer 11

capital expenditures

Question 12

total revenue minus total cost minus 1 time expenditures

Answer 12

cash flow

Question 13

cash, publicly traded stocks, govt bonds/ corporate bonds that can be quickly turned into cash

Answer 13

cash instruments

Question 14

equipment, inventory,/ other goods that r pledge to the bank in the case the company cannot make the loan payment

Answer 14

collateral

Question 15

ability to interact in a friendly & effective way w/ unfamiliar people

Answer 15

comfort engaging w/ strangers

Question 16

money earned when somthing is sold

Answer 16

commission

Question 17

a promise to keep information u learn secret

Answer 17

confidentiality

Question 18

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

Answer 18

conflict of in interests

Question 19

unit price minus cost of goods sold

Answer 19

contribution margin

Question 20

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

Answer 20

corporate social resonsibility

Question 21

corporation is a person in the eyes of the law the corporation is taxed for profits & is liable for any debts / judgements

Answer 21

corporation

Question 22

costs that make up 1 unit of what u sell

Answer 22

cost of goods sold

Question 23

loss that an insurance company will reimburse a policy holder for in the event of a claimer

Answer 23

covered loss

Question 24

funds lent to a business with an agreement that business will reply the lender w/ interest

Answer 24

credit(or debit)

Question 25

person/ business w/ a strong credit score & the financial resources that make it likely they will be able to repay the loan

Answer 25

credit worthiness