EEE 2023 Oklahoma State Final (Questions & Answers) Rated 100% Correct!!

-pro forma balance sheet - -shows how a firms activities will affect its ability to meet its short term liabilities and how its finances will evolve over time 10 K - -filing similar to annual report but more complex 6 step process for obtaining a patent - 1. Make sure the invention is practical 2. Determine the type of application to file 3. Hire a patent attorney 4. Conduct a patent search 5. File a patent application 6. Obtain decision from U.S. Patent and Trademark Office 7(A) Loan Guaranty Program - -this program operates through private sector lenders who provide loans that are guaranteed by the SBA. Accounts Receivable - -money owed to company by its customers accredited investor - -person who is permitted to invest in higher risk investments such as business startups Acquisition - -outright purchase of one firm by another Adverse selection - -the number of employees a firm needs increases and it becomes hard to find the right employee and train and manage them advertising - -making people aware of a product in hopes of persuading them to buy itadvisory board - -panel of experts who are asked by a firms managers to provide council and advice assignment of invention agreement - -if something is invented during the inventors employment, the employer may apply for a patent if the employee who invented it signs the agreement Assumption Sheet - -A new firms explanation of the sources used to make a firms forecast. Balance Sheet - -a snapshot of a company assets, liabilities, and owners equity at a specific point. board of directors - -panel of individuals who are elected by a corporations shareholders to oversee the management of a firm Bootstrapping - -finding ways to avoid the need for external financing or funding through any means necesarry brand equity - -denotes the set of assets and liabilities that are linked to a brand and enables it to raise a firms valuation brand management - -program used to protect the image and value of an organizations brand in consumers minds burn rate - -rate at which a company is spending its capital until it reaches profitability Business Angel - -individuals who invest their personal capital directly in startups Business method patent - -patent that protects an invention that facilitates a method of doing business carry - -the percentage of profit a venture capitalist gets is called the ....certification marks - -marks, words, names, symbols or devices used by a person other than the owner to certify a particular quality about a product