Unit One

Question 1

means small business

Answer 1

Micro-Enterprise

Question 2

What are the five steps to obtaining a Micro-Enterprise certificate?

Answer 2

1-Self assessment(two part assessment)
2-Self assessment presentation(unfamiliar adult)
3-Micro-Enterprise Credit Application (online application)
4-Company Registration(register on GeauxBiz)
5- Credential Online Test(online certification exam)

Question 3

Do (large/small) businesses make up most of Louisiana’s employment?

Answer 3

Small

Question 4

What’s B.R.A.C. stand for?

Answer 4

Baton Rouge Area Chamber

creator of the micro-enterprise certification

Question 5

Online program that provides unlimited access to the industry experts in all careers

Answer 5

Nepris

Question 6

money owed by a company to a supplier

Answer 6

Accounts Payable

Question 7

money owned by a customer to a company

Answer 7

Accounts Receivable

Question 8

Individuals that make small investments in an enterprise to support an entrepreneur

Answer 8

Angel Investors

Question 9

something of value

Answer 9

Assets

Question 10

debt from a bank

Answer 10

Bank Loan

Question 11

a loan

Answer 11

Bond

Question 12

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

Answer 12

Breakeven Analysis

Question 13

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

Answer 13

Brokerage

Question 14

Proper behavior beyond complying with legal requirements

Answer 14

Business Ethics

Question 15

funds contributed by investors to a business

Answer 15

Captial

Question 16

equipment the business will use for many years

Answer 16

Capital Expenditures

Question 17

total revenues minus total cost minus one time expenditures

Answer 17

Cash flow

Question 18

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

Answer 18

Cash instruments

Question 19

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

Answer 19

Collateral

Question 20

the ability to interact in a friendly and effective way with unfamiliar

Answer 20

Comfort Engaging with Strangers

Question 21

money earned when something is sold

Answer 21

Commission

Question 22

a promise to keep information you learn secret ( often formalized by signing a Non-Disclosure Agreement- NDA)

Answer 22

Confidentiality

Question 23

a situation in which an individual might take an action to his/her advantage that would be a disadvantage of a person or company

Answer 23

Conflict of Interest

Question 24

price minus cost of goods

Answer 24

Contribution Margin

Question 25

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

Answer 25

Corporate Social Responsibility

Question 26

a person in the eyes of the law; are owned by shareholders

Answer 26

Corporations

Question 27

cost that make up one unit of what you sell

Answer 27

Cost of goods sold

Question 28

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

Answer 28

Cover cost

Question 29

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

Answer 29

Credit (Debt)

Question 30

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 30

Credit Worthiness