Test 1

Question 1

Money owed by a company to a supplier.

Answer 1

Accounts Payable

Question 2

Money owed to a customer by a company.

Answer 2

Accounts Receivable

Question 3

Individuals that make small investments in an enterprise to support an entrepreneur.

Answer 3

Angel Inverstors

Question 4

Something of value

Answer 4

Assets

Question 5

Debt from a bank

Answer 5

Bank Loan

Question 6

A security that investors buy and sell.

Answer 6

Bond

Question 7

a determination of how much is needed to sell in order to pay all fixed costs.

Answer 7

Break even analysis

Question 8

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

Answer 8

Brokerage

Question 9

Proper business behavior

Answer 9

Business Ethics

Question 10

Funds contributed by investors to a business.

Answer 10

Capital

Question 11

equipment the business will use for many years

Answer 11

Capital Expenditures

Question 12

total revenues minus total costs minus one time expenditures

Answer 12

Cash Flow

Question 13

equipment or other goods pledged to a bank if the company can not pay the loan.

Answer 13

Collateral

Question 14

cash, publicly traded stocks, government bonds, or corporate bonds

Answer 14

Cash Instruments

Question 15

the ability to interact in a friendly way with strangers

Answer 15

Comfort Engaging with Strangers

Question 16

money earned when something is sold

Answer 16

Commission

Question 17

a promise to keep all information learned a secret

Answer 17

Confidentiality

Question 18

an individual takes advantage of an action of a person that that thinks this individual is serving them

Answer 18

Conflict of Interest

Question 19

unit price versus cost of goods sold.

Answer 19

Contribution Margin

Question 20

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

Answer 20

Corporate Social Reponsibility

Question 21

cost that makes that make up one unit of what you sell

Answer 21

Costs of Goods Sold

Question 22

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

Answer 22

Covered Loss

Question 23

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

Answer 23

Credit

Question 24

a person or business with a strong credit score and the financial resources that make it likely they will be able to repay the loan.

Answer 24

Credit-Worthiness

Question 25

considered a person in the eyes of the law.

Answer 25

Corporation

Question 26

What are the 5 components you must complete to obtain the regional micro-enterprise certification

Answer 26

Self-Assessment
Self-Assessment Presentation
Micro-Enterprise Credit Application
Company Registration
Online Credential Test

Question 27

Means small business

Answer 27

Micro-Enterprise

Question 28

Provides the majority of employment in Louisiana and the US

Answer 28

Small Businesses

Question 29

What is BRAC

Answer 29

Baton Rouge Area Chamber and creator of the Micro-Enterprise certification

Question 30

What is the online program that provides unlimited access to industry experts in all careers

Answer 30

Nepris