The Small Business Administration (SBA)defines a Small Business as One

question 19

Multiple Choice

The Small Business Administration (SBA) defines a small business as one with fewer than ____ employees.

• A)250
• B)385
• C)500
• D)600
• E)700

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Definitions:

Accounts Payable

Accounts payable are amounts a company owes to suppliers for items or services purchased on credit; it is a current liability on the balance sheet.

Nominal Annual Cost

The cost of a product or service stated in current year prices without adjusting for inflation or deflation.

Trade Credit

A type of commercial financing where suppliers allow customers to purchase goods or services and pay for them at a later date.

Purchase Date

The date on which an asset or security was bought.