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Chapter 10 Vocab

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Term
Definition
Bank Financing   show
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show One who signs a document of debt (such as a promissory note) agreeing to satisfy the debt of another (the debtor) only if and when the debtor fails to repay the debt.  
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show The person or party to whom money is owed  
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show A report evaluating an individual’s past repayment history as to loans, mortgages, credit cards, student loans and any other forms of installment debt.  
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Debtor   show
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Equity   show
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Guaranty   show
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show Legal permission to own or operate something of a business nature  
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show The material value of a person measured by subtracting all this person owes from the value of all this person owns.  
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Personal Finance Statement   show
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Self-Employment Tax   show
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show A form of federal loan guarantee that operates in a way similar to that of a co-signer. SBA guaranteed loans have enabled many entrepreneurs access to needed capital when banks are not fully confident of the lender’s ability to repay the loan.  
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show A method of financing a business by using one’s own personal capital.  
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Unemployment Tax   show
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Working Capital   show
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