vocab 1

Question 1

Big 5

Answer 1

1. Self-assessment
2. Self-assessment presentation
3. Credit application
4. Company registration - Geauxbiz
5. Credential online test

Question 2

7. Small businesses provide ___ employment in the U.S.A.

Answer 2

majority

Question 3

8. BRAC-

Answer 3

• Baton Rouge Area Chamber created micro enterprise certification

Question 4

9. Nepris

Answer 4

• online career program

Question 5

10. Accounts Payable

Answer 5

Money owned by a company to supplier

Question 6

11. Accounts Receivable

Answer 6

Money owed by customer to company

Question 7

12. Angel investor

Answer 7

• invest in a company without looking for anything in return

Question 8

13. Asset

Answer 8

something of value

Question 9

14. Bank loan

Answer 9

• debt from a bank

Question 10

15. Breakeven analysis

Answer 10

• a determination of how many units are needed to sell in order to pay for all fixed costs.

Question 11

16. Business Ethics

Answer 11

• Proper business behavior

Question 12

17. Capital

Answer 12

Funds contributed by investors to a business

Question 13

18. Cash Flow

Answer 13

– Total revenues minus total cost

Question 14

19. Cash instruments

Answer 14

Cash, publicly traded stocks, government bonds, or corporate bonds that can be quickly turned into cash.

Question 15

20. Collateral

Answer 15

• equipment, inventory or other goods that are pledged to the bank in the case the company cannot make a loan payment.

Question 16

21. Comfort engaging with strangers

Answer 16

The ability to interact in a friendly and effective way with unfamiliar people.

Question 17

22. Commission

Answer 17

money earned when something is sold

Question 18

23. Confidentiality

Answer 18

a promise to keep information you learn secret. This promises is often formalized by signing a Non-Disclosure Agreement (or NDA).

Question 19

24. Conflict of Interest

Answer 19

– 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.

Question 20

25. Contribution Margin

Answer 20

unit price cost of goods sold

Question 21

26. Corporate Social responsibility

Answer 21

actions entrepreneurs and companies take that go beyond their financial self-interest.

Question 22

27. Corporation

Answer 22

a corporation is a person in the eyes of the law. The corporation is taxed for profits and is liable for any debts or judgements. Corporations are owned by shareholders.

Question 23

28. Cost of Goods Sold

Answer 23

Costs that make up one unit of what you sell. These can be labor costs as well as material costs.

Question 24

29. Covered Loss

Answer 24

a loss that an insurance company will reimburse a policyholder for in the event of a claim

Question 25

30. Credit (or Debt)

Answer 25

Funds lent to a business with an agreement that the business will repay the lender with interest.

Question 26

31. Credit-Worthiness

Answer 26

– 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.