Test 1

Question 1

Complete two part-self assessment

Answer 1

Self-assessment

Question 2

Presentation to a unfamiliar workplace adult.

Answer 2

Self-assessment presentation

Question 3

Complete online credit application.

Answer 3

Micro-Enterprise Credit Application

Question 4

Register a fictitious business on GeauxBiz student portal.

Answer 4

Company Registration

Question 5

online certification exam.

Answer 5

Credential Online Test

Question 6

small business

Answer 6

Micro-Enterprise

Question 7

Baton Rouge Area Chamber are the creators of the micro-enterprise certification

Answer 7

BRAC

Question 8

online program that provides unlimited access to industry experts in all careers.

Answer 8

Nepris

Question 9

money owned by a company to a supplier

Answer 9

Accounts Payable

Question 10

money owned by a customer to a company

Answer 10

Accounts Recievable

Question 11

individuals that make small investments in an enterprise or to support an entrepreneur where they do not expect an immediate or large return on the investment.

Answer 11

Angel Investors

Question 12

something of value, anything owned (ex: house, diamond ring)

Answer 12

Assets

Question 13

debt from a bank. banks require much more information from potential borrowers, and take more time to make a lending decision based on a great deal of analysis

Answer 13

Bank Loan

Question 14

a loan. a security that investors buy and sell that represents a legal obligation from the company issuing the bond that they will repay the funds they received when they issued the bond.

Answer 14

Bond

Question 15

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

Answer 15

Breakeven Analysis

Question 16

a company that provides individuals and companies with access to financial markets

Answer 16

Brokerage

Question 17

proper business behavior beyond complying with legal requirements

Answer 17

Business Ethics

Question 18

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.

Answer 18

capital (or equity)

Question 19

expenditures on equipment the business will use for many years

Answer 19

Capital Expenditures

Question 20

total revenues minus total cost minus one-time expenditures (called “capital expenditures) on equipment that will be used for many years

Answer 20

Cash Flow

Question 21

cash, publicly traded stocks, government bonds, or corporate bonds that can be quickly turn into cash

Answer 21

Cash Instruments

Question 22

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

Answer 22

Collateral

Question 23

the ability to interact in a friendly and effect way with unfamiliar people.

Answer 23

Comfort Engaging with Strangers

Question 24

money earned when something is sold

Answer 24

Commission

Question 25

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

Answer 25

Confidentiality

Question 26

a situation in which an individual might take an action to his/her advantage that would be the disadvantage of a person or company that believes this individual is serving them

Answer 26

Conflict of Interest

Question 27

unit price minus cost of good sold

Answer 27

Contribution Margin

Question 28

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

Answer 28

Corporate Social Responsibility

Question 29

a corporation is a person in the eyes of the law. The corporation is taxed for profits and is liable for any debts or judgments. Corporations are owned by shareholders (individuals or other corporations).

Answer 29

Corporation

Question 30

costs that make up one unit of what you sell. These can be labor costs as well as material costs. Ex. When you sell a hat, the variable costs includes: the hat’s material and the labor cost required to make the hat.

Answer 30

Cost of Goods Sold

Question 31

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

Answer 31

Covered Loss

Question 32

funds let to a business with an agreement that the business will repay the lender with interest

Answer 32

Credit (or Debt)

Question 33

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.

Answer 33

Credit-Worthiness

Question 34

what are the five components you must complete to obtain the regional micro-enterprise certification?

Answer 34

``` self assessment self assessment presentation micro-enterprise credit application company registration on geauxbiz student portal online credential test ```