tets 3 Flashcards
(25 cards)
Lien
The right to take possession of collateral until a debt is repaid
LLC
A special type of corporation where individuals owners (or members) are taxed on the profits of the company
Line of Credit
A loan that provides the borrower a maximum amount of money he/she can borrower
Liquid assets
Cash and securities that can be immediately turned into cash,which can then repay any loan amount outstanding
Louisiana Department of Revenue
The state agency that collects state taxes.
Marketing
How business communicates to large numbers of customers, motivating them to learn more about the business and its offerings
Maturity
The data a loan is repaid in full
Mentor
A person who coaches and supports an entrepreneur or a student studying to become an enterprise
Mortgage
The money a person borrows to buy real estate
Mutual fund
An investment security that includes many different types of stocks and purchased and held together.
Net Income
Net means revenues after costs
Obligation
A payments that is owed every month
Online Credit
DEbt obtained from a number of online companies.
Overdraft
When a company issues a check or makes a financial commitment
Overhead
Costs that a business incurs that are not part of producing the goods or services
Own “Free and Clear”
Owning an asset without any associated debt
Partnership
When two or more individuals own a company. Partners are taxed on the profits of the company.
Principal
The amount of money borrowed.
ProForma
A latin Phrase that in business means a projection of future financial performance
Problem solving
The ability to find solutions to difficult or complex issues
Profit
Revenue minus costs
Profits per units
unit price minus cost of goods sold
Quarter
Most projections are for a year.
Real Estate
Real estate is property and the building on it.
