You and a Friend Want to Open New Pet Grooming

question 139

Multiple Choice

You and a friend want to open new pet grooming and pet services shop. Once established, you intend to open a second store in a larger town 20 miles away. If store number two is a success, you plan to start franchising your company.
-Your first business loan will probably entail pledging personal or business assets in the form of _____.

• A)owner's equity
• B)collateral
• C)a current account
• D)private insurance

---

Definitions:

Groupthink

The tendency for a group to reward agreement and directly or indirectly punish dissent.

Contingency Plans

Strategies prepared in advance to address possible future emergencies or unexpected events.

Voting Process

The structured procedure through which individuals express their choices or preferences in an election or decision-making situation.

Dot Planning Strategy

A strategic approach involving the placement and connection of dots (or points) to represent or prioritize tasks, steps, or locations in planning.