a long-term interest paying contract capable of providing you with lifetime income. they are available through insurance companies
100
what is BANKRUPTCY
a condition in which a business cannot meet its debt obligations and petitions a federal district court for either reorganization of its debts of liquidation of its assets
100
what is ACCOUNTS RECEIVABLE
trade accounts of businesses representing moneys due for goods sold or services rendered evidenced by notes, statements, invoices, or other written material as evidence of a present obligation
100
what is BUSINESS BIRTH
formation of a new establishment or enterprise
100
what is the BOARD OF DIRECTORS
the governing body of a corporation that is responsible for the general control, supervision and appointment of officers within that corporation
200
what is a BUDGET
this can help you determine where you are overspending as well as help you adjust bad spending habits
200
what is CAPITAL
assets less liabilities, representing the ownership interest in a business
200
what is ACCOUNTING
the recording, classifying, summarizing, and interpreting in a significant manner and in terms of money, transactions, and events of a financial character
200
what is BUSINESS DISSOLUTION
the absence from any current record of a business that was present in a prior time period
200
what is a COMPROMISE
the settlement of a claim resulting from a defaulted loan for less than the full amount due
300
what is IDENTIFY THEFT
a crime used to refer to fraud that involved someone pretending to be someone else in order to steal money or get other benefits
300
what is CASH FLOW
shows how much of the cash generated by the business remains after both expenses and principal repayment on financing are paid
300
what is an INCOME STATEMENT
a report of revenue and expense which shows the results of business operations or net income for a specified period of time
300
what is a BUSINESS ANALYST
an individual who analyzes the operations of a department or functional unit with the purpose of developing a general systems solution to the problem that may or may not require automation
300
what is FRANCHISING
a form of business by which the owner of a product, service, or method obtains distribution through affiliated dealers
400
what is OPPORTUNITY COST
represents what someone must give up to attain something else
400
what is EARNING POWER
when a business shows a reasonable profit on invested capital after fully maintaining the business property, appropriately compensating its owner and employees, servicing its obligations, and fully recognizing its costs
400
what is a GENERAL LEDGER
the master record of all the balance sheet and income statement account balances
400
what is a BUSINESS PLAN
a comprehensive planning document which clearly describes the business development objective of an existing or proposed business applying for assistance in SBA's or lending programs
400
what is JUDGMENT BY CONFESSION
the act of debtors permitting judgment to be entered against them for a given sum with a statement to that effect, without the institution of legal proceedings
500
what is DIVERSIFICATION
a portfolio strategy designed to reduce exposure to risk by combining a variety of investments, such as stocks, bonds, and real estate
500
what is INVESTMENT BANKING
businesses specializing in the formation of capital. this is done by outright purchase and sale of securities offered by the issuer, standby underwriting, or "best effort selling"
500
what is AMORTIZATION
the process of deducting, over a set period of time, the costs incurred in the procurement of assets.
used to recover the costs of intangible assets such as going into business costs
500
what is BUSINESS CONTINUATION INSURANCE
designed to provide funds to enable the remaining partners in a business, or the remaining stockholders in a closely-held corporation, to purchase the business interest of a deceased or disabled partner or stockholder
500
what is a TORT
a wrong or injury committed against a person or property with either intent or negligence for which civil action can be taken