vocabulary 3 Flashcards
The right to take possession of collateral until a debt is repaid.
Lien
A special type of corporation where individual owners (or members) are taxed on the profits of the company, but the corporation (not the members) is liable for debts or judgements against the company.
Limited Liability Corporation (LLC)
A loan that provides the borrowed a maximum amount of money he/she can borrower-the borrower can then access or use that line of credit for only as much money as they need at any particular time.
Line of Credit
Cash or securities that can be immediately turned into cash, which can then repay any loan amount outstanding.
Liquid Assets
The state agency that collects state taxes.
Louisiana Department of Revenue
How a business communicates to large numbers of customers, motivating them to learn more about the business and its offerings EX. Advertising is a marketing tool. (TV, Radio, Flyers)
Marketing
The date a loan is repaid in full.
Maturity
A person who coaches and supports an entrepreneur or a student studying to become an entrepreneur.
Mentor
The money a person borrows to buy real estate.
Mortgage
An individual security that includes many different stock purchased and held together.
Mutual Fund
“Net” means revenues after costs.
Net Income
A payment that is owed every month.
Obligation
Debt obtained from a number of online companies.
Online Credit
When a company issues a check or makes a financial commitment for an amount greater than the amount the company has deposited in the bank.
Overdraft
Costs that a business incurs that are not part of producing the goods or services its sells, but which are required to operate legally and efficiently.
Overhead
