The Fundamental Financial Building Blocks for an Entrepreneur Are Knowing

question 22

Multiple Choice

The fundamental financial building blocks for an entrepreneur are knowing what assets are required to open the business and how those assets will be financed.This is known as

• A) Financial management
• B) Initial capital requirements
• C) Managerial accounting
• D) Open book management

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Definitions:

Coercion

The act of compelling a party to act in an involuntary manner by use of threats or force.

Contract

A legally binding agreement between two or more parties that outlines obligations, rights, and terms that are enforceable by law.

Material Errors

Significant mistakes or inaccuracies that impact the understanding, operation, or outcome of a document, financial statement, or process.

Construction

The process or art of building something, typically structures like buildings, bridges, and roads.