In the Beginning of a New Business,the Only Thing the New

question 17

Multiple Choice

In the beginning of a new business,the only thing the new business person has is

• A) Vision
• B) Capital
• C) Assets
• D) A customer base

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Definitions:

Guarantee

A formal assurance or promise, often related to the quality or durability of a product, or the fulfillment of a contract.

Guaranteed

Promised with certainty or underwritten with a promise of payment or performance.

Defaulted

Refers to the failure to meet a legal obligation or agreement, especially failing to make required payments on a loan.

Personal Property Security Act

Legislation that governs the creation and registration of security interests in personal property, aside from real estate, to secure payment or performance of an obligation.