test 2 Flashcards
an internet phenomenon where strangers learn about a business online and then decide whether or not to make an investment
Crowd Funding
the amount an insurance company makes a policyholder pay as part of any claim
Deductible
failure to repay a loan
Default
the commitment to get something done
Determination
distinguishing a product or service different than anything else attracting customers generating sales and serving as the foundation for a thriving business
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 or new business concept in 30 seconds a differentiating vision to encourage potential investors or employees to learn more
Elevator Speech
open ended questions that prompt more than a yes or no answer
Engaging Questions
funds contributed by investors to a business investors contribute capital to a business because they expect a significant return on their investment when the business secceeds
Equity or Capital
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
costs that do not vary based on the units sold by the enterprise
Fixed Cost
a computer portal offered by the Louisiana Secretary of State that enables entrepreneurs to go to a single source to learn which forms they need to file the forms required by the Secretary of State and to determine which other government agencies that may need to interact with
GeauxBiz Portal
an individuals self-commitment to overcome obstacles to achieve long-term goals
Grit
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 required payment.
Guarantor
a special account where individuals can deposit retirement funds that can grow tax-deferred until they withdraw them after they retire
Individual Retirement Account (IRA)
debt owed to someone that is paid monthly
Installment Payment
the amount an insurance policyholder receives from the insurance company to reimburse the policyholder for a covered loss
Insurance Claim
the individual or business that purchases an insurance policy for various types of protection
Insurance Policyholder
the amount a policyholder pays for an insurance policy
Insurance Premium
non-physical assets created by individuals or companies that gold the exclusive legal right to commerciallze
Intellectual Property
give the author the sole right to benefit economically from what he/she wrote
Copyright
gives the inventor the sole to benefit commercially from he/she invention
Patent
gives the registering individual or company the sole right to benefit from a brand or image he/she created
Trademark
the federal agency that collects federal taxes and performs audits
Internal Revenue Services (IRS)
the merchandise that a company sells to customers
Inventory
a legal decision requiring a person or company to pay another person or company
Judgement
an obligation you have to pay someone else money also called a debt or loan
Liability
5 steps
Self assessment self assessment presentation micro enterprise credit application online test company registration
