Defining Crisis for an Individual Depends on Several Factors Including

question 13

Multiple Choice

Defining crisis for an individual depends on several factors including

• A)how hazardous or threatening the event is
• B)past experiences with crises
• C)the individual's interpretation of the event
• D)personality traits

Acknowledge the process and challenges of entrepreneurship.

Recognize the major causes of small-business failure.

Grasp the importance of managerial skills and financial management in small-business survival.

Understand the role and support mechanisms provided by the Small Business Administration.

---

Definitions:

Unsecured Debts

Financial obligations that are not backed by collateral, making them riskier for lenders and potentially resulting in higher interest rates for borrowers.

Maturities

The dates on which financial obligations or debt instruments (such as bonds, loans, or other forms of securities) are due to be paid off.

Unfunded Liabilities

Obligations for which sufficient assets have not been set aside and are not currently funded by investment.

Notes

Short for promissory notes, these are debt instruments whereby one party promises in writing to pay a determinate sum of money to the other at a specified date or upon demand.