test 3 Flashcards
the right to take possession of collateral unit 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 .
Line of Credit
cash or securities that can be immediately turned into cash which can then repay any ran 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 it’s offerings
Marketing
the data a loan is repaid infull
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 Funds
“net” means revenues after costs
Net Income
a payment that is owned 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 that the amount the company has
Overdraft
costs that a company issues a check or makes a financial commitment for an amount greater than the amount the company has deposited
Overhead
owning an asset without any associated debt
Own “Free and Clear”
when two or more individuals own a company
Partnership
the amount of money borrowed
Principal
a Latin phase “ for the sake of forma” a projection of future financial performance
ProForma
the ability to find solutions to difficult or complex issues
Problem Savings
revenues minus costs
Profit
unit price minus cost of goods sold
Profit Per Unit
most projections are for a year.means three months
Quarter
property and buildings on it. can be a piece of land
Real Estate
debt that includes a legal obligation by the borrower to repay the debt personally if business is unable to make it’s scheduled debt payment
Secured Debt
