voc. test 4 Flashcards

1
Q

An investment worth money; a “financial instrument” indicating ownership. Ex. stock in companies like Apple or McDonald’s that are traded in the stock market is security.

A

Securities

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2
Q

An investment vehicle. Different types of securities include stocks, bonds, and mutual funds.

A

Security

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3
Q

The ability to pursue what you think is right or necessary to do despite temptations to quit.

A

Self-Discipline

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4
Q

The ability to pursue a task without being told to by someone else. Individuals who are self-motivated can find the strength to start and then finish a task without giving up.

A

Self-Motivation

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5
Q

Costs that vary somewhat based on the number of units you sell. Ex. If your enterprise buys an iPhone, you won’t have to pay again for apps you already own.

A

Semi Variable Costs

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6
Q

An individual that owns a company. Sole proprietors are taxed on the profits of the company, and are personally liable for any debts or judgements against the company.

A

Sole Proprietorship

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7
Q

One of the equal parts into which a company’s capital is dividend, entitling the holder to a proportion of the profits. Share refers to the ownership certificates of a particular company.

A

Share

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8
Q

An individual or company that owns shares in a company.

A

Shareholder

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9
Q

All people or companies associated with an enterprise. Stakeholders include internal stakeholders (employees and shareholders/owners) as well as external stakeholders (customers, suppliers, community members.)

A

Stakeholders

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10
Q

Shares of ownership in a company. Stock is a general term of ownership in any company. Ex. If investors say they own stocks they are generally referring to their overall ownership in one or more companies.

A

Stocks

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11
Q

A company that provides a good or service to another company.

A

Supplier

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12
Q

The hard work a small business owner puts into forming, founding, and operating his/her business. Small business owners typically work very long hours. Sweat equity is as important as any capital but it’s not a cash investment.

A

Sweat Equity

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13
Q

The exact customers and market sector the business intends to serve.

A

Target Market

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14
Q

Working with others to address a challenge. Individuals using their skills in harmony with others to complete a task. Effective teamwork involves trust among team members. Collaboration and cooperation.

A

Teamwork

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15
Q

Fixed cost plus variable cost.

A

Total Costs

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16
Q

Units times price.

A

Total Revenue

17
Q

The practice of operating openly and communicating fully, providing stakeholders with a clear understanding of how your enterprise operates.

A

Transparency

18
Q

Assets that are not already pledged as a guarantee to repay another loan.

A

Unencumbered

19
Q

Units refer to the “things” the company sells. Retail stores sell many different types of units. Service businesses can sell many different services.

A

Units

20
Q

Debt that does not include a promise by a guarantor to repay the loan in the event the debtholder is unable to make a required payment. Unsecured debt is riskier for the bank or online lending company – therefore the lending party charges a higher interest rate on unsecured debt than it does on secured debt.

A

Unsecured Debt

21
Q

Costs that vary based on the units sold by your enterprise.

A

Variable Cost