test one Flashcards
money owned by a company to supplier. Ex. I purchase $10000 of beauty supplies from a distributer to put in my store. The distributor gives me 60 days to pay it back. The $10000 is now in accounts payable for my company meaning that I owe it to someone.
- Account payable
receivable money owed by a customer to a company. Ex. You purchased a new computer from me for $1000 you put down $200 and signed a contract agreeing to pay the remaining $800 within the next 30 days. That $800 goes into accounts receivable in my company meaning someone owes my company $800
- Accounts receivable
individuals that make small investments in an enterprise or to support an entrepreneur where they do not except an immediate or large return on investment. They are typically friends and family who knew the business owner and wants to see them succeed
- Angel investors
something of value anything ex. A house, diamond ring a security is a financial asset a piece of paper that represents ownership in a something and is worth money.
- Assets
debt from a bank require much more information from potential borrowers and take more time to make a lending decision based on a great deal of analysis therefore bank loans are less expensive than online lines credit
- Bank loan debt
a bond is a security that investors buy and sell that represent s a legal obligation from the company issuing the bond that they will repay the funds they received when they issued the bond
- Bond a loan
analysis a determination of how many items are needs to sell in order to pay for all fixed cost
- Break-even analysis
a company that provides individuals and companies with access to financial markets. Ex you buy stocks and bonds from a broker
- Brokerage
proper business behavior beyond complying with legal requirements
- Business ethics
or equity funds contributed by investors to a business investors contribute capital to a business because they expect a significant return on their investment when the business succeeds
- Capital
expenditure on equipment the business will use for many years.
- Capital expenditures
total revenues minus total cost minus one time expenditures called capital expenditures on equipment that will be used for many years
- Cash flow
cash publicly traded stocks government bonds or corporate bonds that can be quickly turned into cash cash instruments can be turned into cash at values that are predictable and available to all holders of the cash instruments ex Apple stock is a cash instruments because it can be sold and converted to cash immediately and that anyone would get for that stock would be the same.
- Cash instruments
inventory or other goods that are pledged to the bank in the cases the company cannot make a loan payment
- Collateral equipment
with strangers the ability to interact in a friendly and effective way with unfamiliar people the ability to seem welcoming and easy to talk to even with people who are different in age appearance or background
- Confront engaging
money earned when something is sold
- Commission
a promise to keep information secret. The promise is often formalized by signing a non-disclosure agreement
- Confidentiality
a situation in which an individual might take an action to his/her advantage that would be to the disadvantage of a person or company that believes this individual is serving them
- Conflict of interest
margin unit price minus cost of goods sold
- Contribution
responsibility actions entrepreneurs and companies take that go beyond their financial self-interest
- Corporate social
- Corporation a corporation is a person in the eyes of the law. The corporation is taxed for profits and is liable for any debt or judgments. Corporation are owned by shareholders
- Corporation
sold costs that make up one unit of what you sell. These can be labor costs as well as material costs.
- Costly of goods
a loss that an insurance company will reimburse a policyholder for in the event of a claim
- Covered loss
lent to a business with an agreement that the business will repay the lender with interest
- Credit funds
a person or a business with a strong credit score and the financial resources that make it likely they will be able to repay any loan
- Credit worthiness
- Self-assessment complete two past self-assessment
- Self-assessment presentation presentation to an unfamiliar workplace adult
- Micro-enterprise credit application complete online credit application
- Company registration register a fictitious business on GeauxBiz student portal
- Credential online test online certification exam
what are the five components you must complete to obtain the regional micro-enterprise certification
small business
micro-enterprise
provides the majority of employment in Louisiana and the U.S.
small business
Baton Rouge area chamber and creator of the micro-enterprise certification
BRAC
what is the online program that provides unlimited access to industry experts in all careers
Nepris
