Microenterprise Regional Credential Study Guide

Compared to a bank loan, an online loan is :

• Online Credit

• determination

• a premium

• much easier to obtain

A company balance sheet is the single report the indicates :

• the annual profitability of the company

• a premium

• cost of goods sold

• a company assets and liabilities

Which of the following is an essential skill for a successful entrepreneur and small business leader ?

• Ability to interact in a friendly and effective way with people you don't know

• ability to shield owners from liabilities of or judgements against the company

• Being on time every day without exceptions is mandatory

• Students take more vacations than employees

The government agency that enables companies to register to do business in the state of Louisiana is :

• Secretary of State

• State Senate

• Louisiana Economic Development (LED)

• State Construction Registry

Which is a conflict of interest ?

• Secretary of State

• A woman who designs and makes her own line of clothing and sells them to her friends.

• Louisiana Secretary of State through geauxBIZ portal

• When the bank approving a loan to a company is also a shareholder

The maturity of a loan is:

• The timeframe by which the borrower must repay the loan

• Being on time everyday without exceptions is mandatory

• What type of bank account the company will use

• the date when the final loan payment was made and the loan balance will be zero

When launching a business, which is NOT a critical consideration ?

• the amount of information the applicant must provide

• price of the unit sold minus unit cost of goods sold

• what type of bank account the company will use

• a debt or loan a company must repay

A shareholder:

• a debt or loan a company must repay

• can be intimidating, complex, and detailed

• is a legal owner of part of the business

• the annual profitability of the company

Which of the following best defines self-motivation?

• maximizing revenues for different price points

• application to provide personal and business information that must be truthful

• ability to start and finish a task without giving up despite obstacles that might arise

• being on time every day without exceptions is mandatory

How does a guarantor help an entrepreneur trying to launch a new business?

• Communicated a different message to your target customers

• Co-sign for a loan, helping the entrepreneur qualify for bank credit

• Ability to interact in a friendly and effective way with people you don't know

• determine how much capital is required to launch the business