test 3 Flashcards
the right to take possession of collateral until a debt is repaid
lien
a special type of corporation where individual owners (or members) 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 communicated 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 and held together
mutual fund
“net” means 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 in the bank
overdraft
costs that a business incurs that are not part of producing the goods or services its sells, but which are required to operate legally and efficiently
overhead
