Test 1 Flashcards
(35 cards)
complete two-part self assessment
Self-assessment
presentation to an unfamiliar workplace adult
Self-assessment presentation
complete online credit application
micro-Enterprise Credit Application
register a fictitious business on GeauxBiz student portal
company registration
online certification exam
Credential Online Test
means small business
micro-enterprise
provide the majority of employment in Louisiana and the U.S.
Small buisinesses
Baton Rouge Area Camber are the culture of the micro-enterprise certification
BRAC
online program that provides unlimited access to industry experts in all careers,
Nepris
money owned by a company to a supplier. Ex. I purchase $10,000 of beauty supplies from a distributor to put in my store. The distributor gave me 60 days to pay it back. The $10,000 is now in accounts payable for my company meaning that I owe it to someone.
Accounts Payable
money owned by a customer to a company. Ex: you purchased a new computer from me for $1,000. You put down $200 and signed a contract agreeing to pay the remaining $800 within the next 30 days. The $800 goes into accounts receivable in my company meaning someone owes my company $800.
Accounts Recievable
individuals that make small investments in an enterprise or to support an entrepreneur where they do not expect an immediate or large return in the investment. They are typically friends and family who know the business owner and want to see them succeed.
Angel Investors
Something of value. Anything owned. Ex. a house, a diamond ring. A security is a financial asset- a piece of paper that represents ownership in something and is worth money.
Assets
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. Therefore, bank loans are less expensive than online lines of credit.
Bank Loan
a loan. A bond is a security that investors buy and sell, that represents a legal obligation from the company issued the bond.
Bond
a determination of how many units are needed to sell in order to pay for all fixed cost
Breakeven Analysis
a company that provides individuals and companies with access to financial . Ex. you buy stocks and bonds from a broker.
Brokerage
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.
Capital (or Equity)
proper business behavior beyond complying with legal requirements.
Business Ethics
expenditures on equipment the business will use for many years.
capital Expenditures
Total revenues minus total cost minus one-time expenditures (called “Capital expenditures”) on equipment the business will use for many years.
cash flow
cash, publicity traded stocks, government bonds, or corporate bonds that can be quickly turned into cash. Cash instruments can be turned into cash at values that are predictable and available to all holders of the cash instrument. Ex. apple stock is a cash instrument because it can be sold and converted to cash immediately and the amount that anyone would get for that stock would be the same.
cash instruments
equipment, inventory or other goods that are pledged to the bank in the case the company cannot make a loan payment
collateral
the ability to interact in a friendly and effective way with unfamiliar people. The ability to interact to seem welcoming and easy to talk to, even with people who are different In age, appearance or background.
comfort engaging with strangers
