In the Beginning, Some Entrepreneurs Use _____ as a Source

question 74

Multiple Choice

In the beginning, some entrepreneurs use _____ as a source of financing.

• A) asset-based lenders
• B) personal credit cards
• C) wealthy individuals
• D) venture capitalists

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Definitions:

Mortgage

A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with a clause for voiding the agreement upon repayment.

Discharged

In legal terms, released or freed from an obligation, duty, or liability.

Incidental Beneficiary

A third party who may benefit from a contract between two other parties, albeit unintentionally and without the legal right to enforce the contract terms.

Enforce Agreement

The legal process of ensuring that the terms of a contract are carried out as agreed upon by the parties.