All Owners,regardless of Percentage of Ownership,are Required to Personally Guarantee

question 34

True/False

All owners,regardless of percentage of ownership,are required to personally guarantee SBA loans.

---

Definitions:

Factory Overhead Cost

Indirect manufacturing expenses that are not directly tied to the production of goods, like utilities and salary of supervisors.

Direct Labor Cost

The total cost of all labor directly involved in the production of goods or services, excluding indirect labor costs.

Wages Paid

The total amount of money paid to employees for work performed, typically expressed as an hourly rate or salary.

Finished Product

Goods that have completed the manufacturing process and are ready to be sold to consumers.