The First Step in Starting Your Own Business Is

question 32

Multiple Choice

The first step in starting your own business is:

• A)to determine where the funding will come from
• B)a self-assessment
• C)a business plan
• D)find an idea for a new product or service
• E)choose a form of business organization

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Definitions:

Offeror

The party in a contract negotiation that proposes the terms of an agreement to another party, known as the offeree.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, aimed at standardizing practices across states.

Assignment of Accounts Receivable

The transfer of the right to collect money owed on outstanding invoices from the original creditor to another party.

Security Interest

A lien given by a debtor to his creditor to secure payment or performance of a debt or obligation.