Virtual Assignment

Question 1

a corperation is a person in the eyes of the law

Answer 1

Corporation

Question 2

cost that make up one unit of what you sell

Answer 2

Cost of goods sold

Question 3

A loss that insurance companies will reimburse a policyholder for the event of the claim.

Answer 3

Covered loss

Question 4

funds lent to a business with an agreement that the business will repay the leader with interest.

Answer 4

Credit

Question 5

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.

Answer 5

Credit worthiness

Question 6

an internet phenomenon, where strangers learn about a business online and decide if they want to invest.

Answer 6

Crowdfunding

Question 7

the amount an insurance company makes a policy holder as a part of any claim.

Answer 7

Deductible

Question 8

Failure to repay a loan

Answer 8

default

Question 9

the commitments to get something done

Answer 9

determination

Question 10

distinguishing a product or service

Answer 10

Differentiated offering

Question 11

Money paid by a company to a person who owns stock in that company

Answer 11

Dividend

Question 12

A clear, concise and compelling way to describe a business concept in 30 seconds.

Answer 12

Elevator speech

Question 13

open ended questions that prompt more a “yes” or ”no” answer.

Answer 13

Engaging questions

Question 14

Funds contributed by investors to a business.

Answer 14

Equity

Question 15

understanding how individuals and businesses earn money and what they spend it on

Answer 15

Financial literacy

Question 16

the 12-month period a company uses to report financial results.

Answer 16

Fiscal year

Question 17

Cost that does not vary based on the units sold by the enterprise.

Answer 17

Fixed cost

Question 18

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.

Answer 18

Geaux Biz portal

Question 19

an individual’s self-commitment to overcome obstacles to achieve long term goals.

Answer 19

Grit

Question 20

a credit worthy individual or business with sufficient liquidity that promises to repay a loan in the event that the debtholder can’t.

Answer 20

Guarantor

Question 21

a special account where individuals can deposit retirement funds that can grow tax-deferred until they withdraw them after they retire.

Answer 21

IRA

Question 22

debt owed to someone that is paid monthly

Answer 22

Installment payment

Question 23

The amount an insurance policyholder receives from the insurance company to reimburse the policyholder for a covered loss

Answer 23

Insurance Claim

Question 24

the individual or business that purchases an insurance policy for variations of types of protection.

Answer 24

Insurance policy holder

Question 25

The amount a policyholder pays for an insurance policy.

Answer 25

Insurance Premium

Question 26

non physical assets created by individuals or companies that hod the exclusive legal rights.

Answer 26

Intellectual property

Question 27

The federal agency that collects federal taxes and perform audits

Answer 27

IRS

Question 28

The merchandise that your company will sell.

Answer 28

Inventory

Question 29

a legal decision requiring a person or a company to pay another person and company

Answer 29

Judgment

Question 30

an obligation you have to pay someone else money.

Answer 30

Liability

Question 31

a collection of rights that automatically vest to someone who creates an original work

Answer 31

copyright

Question 32

The term trademark refers to a recognizable insignia

Answer 32

trademark

Question 33

A patent is the granting of a property right by a sovereign authority to an inventor.

Answer 33

patent