A Small Group of Low-Income Entrepreneurs from Less-Developed Countries Borrowing

question 14

Multiple Choice

A small group of low-income entrepreneurs from less-developed countries borrowing money at competitive rates with little or no collateral is called ________.

• A) microdebit
• B) microcredit
• C) capital loans
• D) capital credit

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Definitions:

Checking Account

A bank account that allows the depositor to withdraw funds using checks or electronic debit, typically used for day-to-day expenses.

Receive Payment

The process of collecting money from a customer to settle an outstanding invoice.

Aging of Accounts Receivable

A method used to categorize the amounts owed by customers based on the length of time an invoice has been outstanding.

Reports Center

The Reports Center is a feature in accounting software that aggregates all financial reports, providing an overview of an entity’s financial health.