Which of the Following Would NOT Normally Be a Part

question 7

Multiple Choice

Which of the following would NOT normally be a part of a business plan cover letter?

• A) Name of business
• B) Name of owner
• C) Owner financial statement
• D) Telephone number of owner

---

Definitions:

Lease Receivable

An asset account that records the amount due to be received by a lessor from a lessee under the terms of a lease agreement.

Sales-type Lease

A type of lease where the lessor recognizes immediate profit on the lease, similar to a sale, often used in equipment and vehicle financing.

Long-term Asset

A long-term asset is a resource owned by a company, providing economic benefits for a period extending beyond one year, including property, plant, and equipment.

Balance Sheet

A document that presents a snapshot of a corporation's financial health, by detailing assets, liabilities, and shareholders' equity on a specific date.