Applying for a Loan in Five-Person Groups Is an Example

question 92

Multiple Choice

Applying for a loan in five-person groups is an example of:

• A) family and friends lending.
• B) party of five lending.
• C) group responsibility.
• D) trade-off.

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Definitions:

Congress

A bicameral legislative body in the federal government of the United States consisting of the Senate and the House of Representatives responsible for making national laws.

Ethics

Ethics refers to the moral principles that govern a person's or group's behavior, guiding what is right and wrong.

Cash Distributed

The act of disbursing or paying out cash from a company to its stakeholders, such as dividends to shareholders or payments to suppliers.

Business Entity Assumption

An accounting principle that treats a business as a separate entity from its owners for reporting and financial assessment purposes.