Vocab 1

Question 1

Self-assessment

Answer 1

complete two-part self-assessment

Question 2

Self-assessment presentation

Answer 2

presentation to an unfamiliar workplace adult

Question 3

Micro Enterprise Credit application

Answer 3

complete online credit application

Question 4

Company Registration

Answer 4

register fictitious business GeauxBiz student portal

Question 5

Credential Online Test

Answer 5

online certification exam

Question 6

BRAC

Answer 6

Baton Rouge Area Chamber are the creators of the micro-enterprise certification

Question 7

Nepris

Answer 7

online program that provides unlimited access to industry experts in all careers

Question 8

Accounts Payable

Answer 8

money owed by a company to a supplier

Question 9

Accounts Receivable

Answer 9

money owed by a customer to a company

Question 10

Angle Investors

Answer 10

individuals that make small investment and don’t expect a lot in return

Question 11

Assets

Answer 11

Something of value

Question 12

Bank Loan

Answer 12

debt from a bank

Question 13

Bond

Answer 13

a loan

Question 14

Breakeven Analysis

Answer 14

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

Question 15

Brokerage

Answer 15

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

Question 16

Business Ethics

Answer 16

Proper business behavior beyond complying with legal requirements

Question 17

Capital

Answer 17

Funds contributed by investors to a business.

Question 18

Capital Expenditures

Answer 18

Expenditures on equipment the business will use for many years.

Question 19

Cash flow

Answer 19

Total revenue minus total cost minus one time expenditures

Question 20

Cash Instruments

Answer 20

Cash, publicly traded stocks, government bonds, or corporate bonds

Question 21

Collateral

Answer 21

Equipment, inventory or other goods that are pledged to the bank

Question 22

Comfort engaging with strangers

Answer 22

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

Question 23

Commission

Answer 23

money earned when something is sold

Question 24

Confidentiality

Answer 24

a promise to keep information you learn a secret

Question 25

Conflict of Interest

Answer 25

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

Question 26

Contribution Margin

Answer 26

unit prices minus cost of goods sold

Question 27

Corporate's Social Responsibility

Answer 27

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

Question 28

Corporation

Answer 28

a corporation is a person in the eyes of the law

Question 29

Cost of Goods Sold

Answer 29

Costs that make up one unit of what you sell

Question 30

Covered Loss

Answer 30

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

Question 31

Credit (or debt)

Answer 31

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

Question 32

Credit-Worthiness

Answer 32

A person or a business with a strong credit score and the financial resources the make it likely they will be able to repay any loan