Part of a "Self-Audit" When Buying a Business Is to Ask

question 115

True/False

Part of a "self-audit" when buying a business is to ask yourself,"What do I expect to get out of the business" and "How much can I put into the business?"

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Definitions:

Principle

Principle refers to the original sum of money borrowed in a loan or the initial amount of investment before earnings or losses.

Interest Amount

the sum paid or charged for the use of money or for borrowing money.

Periodic Interest Rate

The interest rate charged or earned over a particular period of time, often expressed as a percentage.

Annual Percentage

Often referred to in context of the annual percentage rate (APR), it represents the annual rate charged for borrowing or earned through an investment.