Test 2 Flashcards
an internet phenomenon, where strangers learn about a business online and then decide whether or not to make an investors are typically “fans” of an owner, but they do not expect a return on investment
crowdfunding
the amount an insurance company makes a policyholder pay as part of any claim
deductible
failure to pay a loan
default
commitment
determination
distinguishing a product or service
differentiated offering
money paid by a company to a person who owns stock in that company
dividend
a clear concise and compelling way to describe a business
elevator speech
open ended questions that prompt more than a yes or no answer
engaging question
funds contributed by investors to a business
equity
understanding how individuals and businesses earn money and what they spend money on
financial literacy
the 12 month period a company uses to report financial results
fiscal year
cost that do not vary based on the units sold by the enterprise
fixed cost
a computerized portal offered by the Louisiana secretary of state that enables entrepreneurs to go to a single source they need to file
geaux biz portal
an individual self commitment to overcome
grit
credit worthy individuals or business with sufficient liquidity
guarantor
a special account where individuals can deposit retirement funds
individual retirement account (IRA)
debt owned to someone that is paid monthly
installment payment
the amount of insurance policyholder receives from the insurance company to reimburse the policyholder fop a covered loss
insurance claim
the individual or business that purchases an insurance policy for various types of protection
insurance policyholder
the amount of a policy holder pays for an insurance policy
insurance premium
non physical asses created by individuals or companies that hold the exclusive legal right to commercialize
intellectual property
give the author the sole right to benefit economically from what he/she wrote
copyright
gives the inventor the sole right to benefit commercially from his/her invention
patent
federal agency that collects federal taxes
internal revenue services (IRS)
gives the registration individual or company
trademark
merchandise that a company sells to a customer
inventory
a legal decison
jugdment
a debt or a loan
liability
