Unit Test — Unit test

Question 4 • FL-2102373-Personal Finance and Money Management Honors

Elijah has an idea for a new business.Which step provides the greatest risk for Elijah as he works to start his business?

Answer

Elijah reads websites and blogs that share advice from small business leaders.

Elijah approaches several banks with his business plan to acquire a start-up loan.

Elijah explores programs that provide funding backed by the federal government.

Elijah joins professional organizations that support small business owners around the country.

Explanation

Approaching banks for a start-up loan creates the greatest financial risk because Elijah may become responsible for repaying borrowed money, even if the business does not succeed. Reading advice, exploring funding programs, and joining professional organizations can help him prepare and find support without taking on the same direct debt.

AI-written and checked against the verified answer.

More from this Course

Instruction

Unit Test

Social Security and Medicare