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According to the Spotlight on Small Business Box, Merchant Cash

question 239

True/False

According to the Spotlight on Small Business box, merchant cash advance providers often charge much lower interest rates than traditional banks.


Definitions:

Cheques

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or a named party.

Deposit

Money placed into a financial institution for safekeeping or into an account to fulfill a financial requirement.

Balance

The amount of money held in a financial account at any moment, reflecting all transactions.

Account

A record summarizing all the transactions pertaining to a single item in the accounting equation.

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