test 2

Question 1

an internet phenomenon where strangers learn about a business online and then decide whether or not to make an investment, crowdfunding investors are typically “fans” of an owner but they do expect a return on investment

Answer 1

crowdfunding

Question 2

the amount an insurance makes a policyholder pay as apart of any claim

Answer 2

deductible

Question 3

failure to repay a loan

Answer 3

default

Question 4

the commitment to get something done

Answer 4

determination

Question 5

distinguishing a product or service “different than anything else” attracting customers, generating sales and serving as the foundation for thriving business

Answer 5

differentiated

Question 6

money paid by a company to a person who owns stock in that company they are optional, they are paid every three months

Answer 6

dividend

Question 7

a clear concise and compelling way to describe a business or new businesses concept in 30 seconds

Answer 7

elevator speech

Question 8

open ended question that prompt more than a “yes” or “no” answer

Answer 8

engaging question

Question 9

funds contributed by investors to a business, investors contribute capital to a business because they expect a return

Answer 9

equality (capital)

Question 10

understanding how individuals and businesses earn money and what they spend money on

Answer 10

financial literacy

Question 11

the 12 month period a company uses to report financial results a fiscal year can be the same as a calendar year

Answer 11

fiscal year

Question 12

costs that do not vary based on the units sold by enterprise

Answer 12

fixed costs

Question 13

a computer portal offered by the louisiana secretary of state that enables entrepreneurs that go to a single source to learn which forms they need to file the forms required by the secretary of state and determine which other government agencies they may need to interact with

Answer 13

geaux Biz portal

Question 14

an individuals self-commitment to overcome obstacles to achieve long-term goals, the ability to keep persuing your dreams

Answer 14

grit

Question 15

a credit-worthy individual or business with sufficient liquidity that promises to repay a loan in the event that the debt-holder cant make a payment

Answer 15

guarantor

Question 16

a special account where individuals can deposit retirements funds that can grow tax-deferred until they withdraw them after they retire. advantages- there are no annual income taxes on any dividends or profitable sales that it makes

Answer 16

individual retirement account (IRA)

Question 17

debt owed to someone that is paid money

Answer 17

installment payment

Question 18

the amount an insurance policy holder receives from the insurance company to reimburse the policyholder for a covered loss

Answer 18

insurance claim

Question 19

the individual or business that purchases an insurance policy for types of protection

Answer 19

insurance policyholder

Question 20

non-physical assets created by individuals or companies that hold the exclusive legal right to commercialize.

Answer 20

intellectual property

Question 21

the amount a policyholder pays for insurance policy

Answer 21

insurance premium

Question 22

the federal agency that collects federal issue and performs audits

Answer 22

internal revenue service (IRS)

Question 23

the merchandise that a company sells to customer

Answer 23

inventory

Question 24

a legal decision requiring a company or a person to pay another person or company

Answer 24

judgement

Question 25

an obligation you have to pay someone else money also called a debt or a loan

Answer 25

liability

Question 26

a government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention

Answer 26

patent

Question 27

give the author the sole right to benefit economically from what he/she wrote

Answer 27

copyright

Question 28

gives the regulation individual or company

Answer 28

trademark