Entrepreneurship Finance, Protect, and Insure Your Business

Act of knowingly taking items from a business without paying

Short-term loans are repaid

An example of collateral is

Shoplifting occurs in virtually every type of retail business.

Money invested in a business in return for a share in the business's profits

Insurance agents earn _________ on the amount of coverage they sell.

There are_________ financial statements in a financial plan.

Inventory is a type of fixed asset because it will be used up in normal business operations

There is no way to track down a person who writes you a bad check.

Items of value OWNED by a business

The lowering of the value of an asset to reflect its current worth

Which is NOT a method to prevent or reduce employee theft

It is always a good idea to have extra insurance so every risk is more than covered.

Steps taken to protect yourself against different kinds of risks

Installing surveillance systems can help deter employee theft.

Property that the borrower forfeits if he or she defaults on the loan

individuals or companies that make a living investing in start-up companies

Expenses that are incurred by a business every month

Banks require collateral for most unsecured loans.

Money loaned that will be repaid, with interest, in a certain time period

The accounting equation is

Income payments as a result of work-related injury

Property insurance covers fire, robbery, storm damage, and floods.

Financial statements based on projections

A bounced check is

Financial statements based on projections are pro forma financial statements

A short-term loan is a loan that is repaid within a year.

One-time-only expenses that are paid to establish a business

Which is NOT an example of a start-up costs

The market for insurance is competitive, and agents are eager to sell insurance.