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14 Cards in this Set
- Front
- Back
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Assets
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Items of value owned by the business
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Contigency fund
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Cas that is set aside for unexpected needs of the business
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Continuing Costs
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The ongoing expenses resulting from the operation of the business
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Credit unions
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Cooperatives formed by labor unions or employees for the benefit of the members
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Credit-worthy
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Willing and able to pay the debt
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Debt sources
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Sources of funding that require the money that was borrowed to be paid back with interest
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Equity sources
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Capital sources that trade cash for some portion of ownership in the business.
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Expenses
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The cost of doing business
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Fixed costs
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Expenses that remain the same for a period
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Government agencies
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Operated by the government to provide technical assistance
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Liabilities
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Debts owed by the business
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Lines of Credit
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Agreements made by a bank to lend money at a stated interest rate whenever the owner needs it.
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Long-term loan
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Borrowed money that can be payed back under a period of a year.
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Net worth
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The monitary value of the business
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