Alexis Is Looking to Open Her Own Business,and She Wants

question 57

Multiple Choice

Alexis is looking to open her own business,and she wants to research the local and county requirements for obtaining permits and licenses.Which of the following would be a good resource to consult?

• A) The CIA
• B) An immigration attorney
• C) Federal government officials
• D) Her local Chamber of Commerce

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Definitions:

Disbursement Float

The time lag between when a payment is issued by a company and when the funds are actually removed from the company’s account.

Chequing Account

A bank account that allows the holder to make deposits, withdrawals, and payments via cheques and is typically used for everyday transactions.

Paycheque

A check issued to an employee for earned wages, representing the net amount after deductions such as taxes and social security contributions.

Compensating Balances

A minimum bank account balance a borrower is required to maintain as part of a loan agreement, offering the bank some security.