Test 4

Question 1

an investment worth money, a “financial instrument’ indication ownership. Ex: stock in companies like Apple or McDonald’s that are traded in the stock market is security.

Answer 1

Securities

Question 2

an investment vehicle. Different types of ______ include stocks, bonds, and mutual funds.

Answer 2

Security

Question 3

the ability to pursue what you think is right or necessary to do despite temptations to quit.

Answer 3

Self-Discipline

Question 4

the ability to pursue a task without being told to by someone else, individuals who are_________ can find the strength to start and then finish a task without giving up.

Answer 4

Self-Motivation

Question 5

Cost that vary somewhat based on the munver or units you sell. Ex: if your enterprise buys an iPhone you won’t have to pay again for apps you already own.

Answer 5

Semi-Variable Costs

Question 6

an individual who owes the company. _________ are taxed on the profits of the company, and are personally liable for any debts or judgements against the company.

Answer 6

Sole-Proprietorship

Question 7

One of the equal parts into which a company’s capital is divided, entitling the holder to a proportion of the profits. ______ refers to the ownership certificates of a particular company.

Answer 7

Shares

Question 8

An individual or company that owns shares in a company.

Answer 8

Shareholders

Question 9

All people or companies associated with an enterprise. _________ include internal _________ (employees and shareholders/owners) as well as external _________ (customers, suppliers, community members).

Answer 9

Stakeholders

Question 10

A company that provides a good or service to another company.

Answer 10

Supplier

Question 11

The hard work a small business owner puts into forming, founding, and operating his/ her business. Small business owners typically work very long hours. _____ ______ is as important as any capital but it’s not a cash investment.

Answer 11

Sweat Equity

Question 12

The exact customers and market sector the business intends to serve.

Answer 12

Target Market

Question 13

Working with others to address a challenge. Individuals using their skills in harmony with others to complete a task. Effective _______ includes trust among team members. Collaboration and cooperation.

Answer 13

Teamwork

Question 14

Fixed cost plus variable costs.

Answer 14

Total Costs

Question 15

Units times price.

Answer 15

Total Revenue

Question 16

The practice of operating openly and communicating fully providing stakeholders with a clear understanding of how your enterprise operates.

Answer 16

Transparancy

Question 17

Assets that are not already pledged as a guarantee to repay another loan.

Answer 17

Unencumbered

Question 18

_____ refers to the things that the company sells. Retail stores sell many different types of _____. Service businesses can sell any different services.

Answer 18

Units

Question 19

debt that does not include a promise by a guarantor to repay the loan in the event the debt holder is unable to make a required payment. ______ ______ is riskier for the bank or online lending party charges a higher interest rate on _______ _______ than it does on secured debt.

Answer 19

Unsecured Debt

Question 20

Costs that vary based on the units sold by your enterprise.

Answer 20

Variable Costs