test 3 Flashcards
B
the right to take possession of collateral debt is repaid
lien
a special type of corporation where individual owners (or members) are taxed on the profits of the company but the corporation (not the members) is liable for debts or judgments against the company
limited liability corporation (LLC)
a loan that provides the borrower a maximum amount of money he/she can borrow - the borrower can then access or use that line of credit to only as much money as they need at any time
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 businesses communicate to large numbers of customers motivating them to learn more about the business
marketing
the date a loan is repaid in full
maturity
a person who coaches and supports
mentor
the money a person borrows to buy real estate
mortgage
an investment security that includes many different stocks purchased and held together
mutual funds
“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
overdraft
costs that a business incurs that are not part of producing the goods or service it sells
overhead
