Virtual Assignment Flashcards
a corperation is a person in the eyes of the law
Corporation
cost that make up one unit of what you sell
Cost of goods sold
A loss that insurance companies will reimburse a policyholder for the event of the claim.
Covered loss
funds lent to a business with an agreement that the business will repay the leader with interest.
Credit
A person or a business with a strong credit score and the financial resources that make it likely they will be able to pay any loan.
Credit worthiness
an internet phenomenon, where strangers learn about a business online and decide if they want to invest.
Crowdfunding
the amount an insurance company makes a policy holder as a part of any claim.
Deductible
Failure to repay a loan
default
the commitments to get something done
determination
distinguishing a product or service
Differentiated offering
Money paid by a company to a person who owns stock in that company
Dividend
A clear, concise and compelling way to describe a business concept in 30 seconds.
Elevator speech
open ended questions that prompt more a “yes” or ”no” answer.
Engaging questions
Funds contributed by investors to a business.
Equity
understanding how individuals and businesses earn money and what they spend it on
Financial literacy
the 12-month period a company uses to report financial results.
Fiscal year
Cost that does not vary based on the units sold by the enterprise.
Fixed cost
a computer offered by the louisiana secretary of State that enables entrepreneurs to go to a single source to learn which forms they need to file forms required by the secretary of state, and to determine which other government agencies they may need to interact with.
Geaux Biz portal
an individual’s self-commitment to overcome obstacles to achieve long term goals.
Grit
a credit worthy individual or business with sufficient liquidity that promises to repay a loan in the event that the debtholder can’t.
Guarantor
a special account where individuals can deposit retirement funds that can grow tax-deferred until they withdraw them after they retire.
IRA
debt owed to someone that is paid monthly
Installment payment
The amount an insurance policyholder receives from the insurance company to reimburse the policyholder for a covered loss
Insurance Claim
the individual or business that purchases an insurance policy for variations of types of protection.
Insurance policy holder
The amount a policyholder pays for an insurance policy.
Insurance Premium
non physical assets created by individuals or companies that hod the exclusive legal rights.
Intellectual property
The federal agency that collects federal taxes and perform audits
IRS
The merchandise that your company will sell.
Inventory
a legal decision requiring a person or a company to pay another person and company
Judgment
an obligation you have to pay someone else money.
Liability
a collection of rights that automatically vest to someone who creates an original work
copyright
The term trademark refers to a recognizable insignia
trademark
A patent is the granting of a property right by a sovereign authority to an inventor.
patent
