Which of the Following Statements Is Incorrect

question 58

Multiple Choice

Which of the following statements is incorrect?

• A)The SBA can guarantee up to $750,000 at an interest rate not to exceed 2.75 percent more than the prime lending rate.
• B)The primary function of the SBA is to guarantee loans made to new and small businesses.
• C)For qualified new and small firms that are unable to obtain long-term financing on reasonable terms from banks or other financial institutions, the SBA offers a basic loan guarantee program.
• D)All of these statements are correct.

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Definitions:

Appreciated

Increased in value or price over time.

US Dollars

The official currency of the United States, widely used as a standard of exchange internationally.

US Demand

The total quantity of goods and services that consumers in the United States are willing and able to purchase at a given price level and time.

British Pounds

The official currency of the United Kingdom, symbolized as £.