test 3 Flashcards
the right to take possession of collateral until a debt is repaid
lien
a special type of corporation where individual owners are taxed on the profits of the company
limited liability corporation (LLC)
a loan that provides the borrower a maximum amount of money he/she can borrow
line of credit
cash or securities that can be immediately turned into cash, which can then repay any loan amount outstanding
liquid assets
the state agency that collects state taxes
Louisiana department of revenue
how a business communicates to large numbers of customers. motivating them to learn more about the business and its offerings
marketing
the date a loan is repaid in full
maturity
a person who coaches and supports an entrepreneur or a student studying to become an entrepreneur
mentor
the money a person borrows to buy real estate
mortgage
an investment security that includes many different stocks purchased a held together
mutual fund
revenues after costs
net income
a payment that is owed every month
obligation
debt obtained from a number of online companies
online credit
when a company issues a check or makes a financial commitment for an amount greater than the amount the company has deposited into the bank “bounced check”
overdraft
costs that a business incurs that are not part of producing the goods and services it sells, but which are required to operate legally and efficiently
overhead
owning an asset without any associated debt
own “free & clear”
when two or more individuals own a company
partnership
the amount of money barrowed
principal
a Latin phrase that in business means a projection of future financial performance
pro forma
the ability to find solutions to difficult or complex issues
problem solving
revenues minus costs
profit
unit price minus costs of goods sold
profits per units
most projections are for a year
quarter
is property and the buildings on it. can be a piece of land or it can be a home on the piece of land
real estate
debt that includes a legal obligation by the barrower or repay the debt personally if the business is unable to make the scheduled debt payment
secured debt
