test #3

Question 1

The right to take possession of collateral until a debt is repaid.

Answer 1

Lien

Question 2

A special type of corp where individuals where individual owners (or mentors) are taxed on the profits of a company, but the corp is liable for debts or judgements against the company

Answer 2

limited liability corp

Question 3

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 for only as much money as they need at any particular time

Answer 3

line of credit

Question 4

liquid assets

Answer 4

cash or securities that can be immediality turned into cash, which can repay any loan amount outstanding

Question 5

louisiana department of revenue

Answer 5

the state agency that collects state taxes

Question 6

marketing

Answer 6

how a business communicates to large numbers of customers, motivating them to learn more about the business and its offerings

Question 7

maturity

Answer 7

the date a loan is repaid in full

Question 8

Mentor

Answer 8

a person who coaches and supports an entrepreneur or a student studying to become an entrepreneur

Question 9

mortgage

Answer 9

the money