BHS 5th Hour Intro to Bus Ch 4 Finances retake

by: mburgess
  1. 1

    Collateral is property or assets used to guarantee repayment of a loan.

  2. 2

    Which of the following is not a financial resource for entrepreneurs?

  3. 3

    Using business suppliers as a financial resource means

  4. 4

    Income statements and balance sheets are only prepared for corporations.

  5. 5

    The balance sheet

  6. 6

    A credit union

  7. 7

    Which type of financing does not include any ownership in the business?

  8. 8

    Gross profit is the total of all expenses of a company.

  9. 9

    The income statement

  10. 10

    If a loan is not repaid, collateral will be sold on a public auction.

  11. 11

    A partnership or corporation is an example of equity financing.

  12. 12

    Cost of goods sold is the cost of advertising and marketing your business.

  13. 13

    An unsecured loan does not have collateral.

  14. 14

    Family members may not be partners or members of a business corporation.

  15. 15

    Examples of collateral might include cars, buildings, and equipment.

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