Question

Match each word to its correct meaning. 1. business plan anything that people accept as a standard for payment (e.g., coin, currency, credit cards, checks, etc.) 2. capital credit issued by a bank to a business to finance trading or manufacturing operations 3. collateral an independent agency of the United States government whose function is to offer different kinds of loans to aspiring small-business owners 4. commercial credit a loan repaid with interest in equal periodic payments 5. consumer credit something of value a person puts up for a loan, such as a car or house, so that the bank can take it if you do not pay back the loan 6. credit agreement to receive money, services, or goods now in exchange for the promise to pay in the future 7. financial institution organization for managing money 8. installment loans an outline of your expenses, goals, and needs and how you expect to meet them 9. money the wealth, whether in money or property, owned or employed in business by an individual, firm, corporation, etc. 10. small business administration type of credit extended by a retail store, bank, finance company, or other lender, chiefly for the purchase of consumer goods

Answer 1

This question is about defining terms related to business credit and financing.

Step-by-step explanation:

1. Business plan: An outline of your expenses, goals, and needs and how you expect to meet them.

2. Capital: Credit issued by a bank to a business to finance trading or manufacturing operations.

3. Collateral: Something of value a person puts up for a loan, such as a car or house, so that the bank can take it if you do not pay back the loan.

4. Commercial credit: Type of credit extended by a retail store, bank, finance company, or other lender, chiefly for the purchase of consumer goods.

5. Consumer credit: A loan repaid with interest in equal periodic payments.

6. Credit agreement: To receive money, services, or goods now in exchange for the promise to pay in the future.

7. Financial institution: Organization for managing money.

8. Installment loans: A loan repaid with interest in equal periodic payments.

9. Money: Anything that people accept as a standard for payment (e.g., coin, currency, credit cards, checks, etc.).

10. Small Business Administration: An independent agency of the United States government whose function is to offer different kinds of loans to aspiring small-business owners.