In Which of the Following Credit Programs Does the SBA

question 60

Multiple Choice

In which of the following credit programs does the SBA borrow money to be lent Small Business Investment Companies SBICs) and guarantees payment to investors?

• A) 7a) loan
• B) 504 loan
• C) microloan
• D) venture capital loan
• E) credit card loan

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Definitions:

Internal Controls

Processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Non-Inventory Items

Goods or services that a company buys or sells but does not track quantities of, such as supplies or consulting services.

QBO

Stands for QuickBooks Online, a cloud-based accounting software designed for small to medium-sized businesses.

Accounting Records

Documents and ledgers that capture all the financial transactions of a business, serving as a foundation for financial reporting.