Unit Three Flashcards
(25 cards)
the right to take possession of collateral
Lien
special type of corporation where individual owners are taxed on the profits of the company but the corporation is liable for debts
Limited Liability Corporation (LLC)
a loan that provides the borrower a maximum amount of money he/she can borrow
Line of Credit
cash or securities that can be immediately turned into cash
Liquid Assets
state agency that collects state taxes
Louisiana Department of Revenue
how a business communicates to large numbers of customers. Advertising is a marketing tool (tv flyers radio )
Marketing
the date a loan is repaid in full
Maturity
a person who coaches and supports an entrepreneur or a student
Mentor
an investment security that includes many different stocks purchased and held together
Mutual Fund
the money a person borrows to buy real estate
Mortgage
revenue after cost
Net Income
payment that is owed every month
Obligation
debt obtained from a number of online companies
Online Credit
makes a financial commitment for an amount greater than the amount the company has in the bank
Overdraft
costs that a business incurs that are not part of producing the goods or services it sells
Overhead
owning an asset without any associated debt
Own “free & clear”
when two or more people own a company
Partnership
the amount of money borrowed
principal
in business means a projection of future financial performance (revenues and costs)
Pro forma
the ability to find solutions to different or complex issues
Problem Solving
revenues minus costs
Profit
unit price minus cost of goods sold
Profits per Unit
means three months; businesses make quarterly reports
Quarter
property and the building(s) on it; can be a piece of land; can be the buildings on the land
Real Estate
