Which of the Following Statements About Small Businesses Is False

question 96

Multiple Choice

Which of the following statements about small businesses is false?

• A) Almost half of all U.S. firms are small businesses.
• B) Small firms are a vital component of the U.S. economy.
• C) Small businesses can be both incorporated and unincorporated.
• D) Most large firms began as small businesses.
• E) Many small businesses struggle to compete with large firms.

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Definitions:

Personal Property Security Act

Legislation that provides a legal framework for the creation and registration of security interests in personal property (assets other than real estate) to secure payment or performance of an obligation.

Guaranteed

A promise or assurance, often backed by an entity or document, that certain conditions will be fulfilled or met.

Security Interest

A legal claim or right granted over an asset to secure the performance of an obligation, typically repayment of a loan.

Overages

Extra charges incurred when a project goes over its budget, often applied in construction, film production, or retail leasing contexts.