The most widely used source of short-term funding that Mr. Boyd (and other small business owners) would use to operate their business is trade credit.
<h3>What is Trade Credit?</h3>
This refers to the purchase financing where a person is allowed to collect goods and pay for them at a later date.
Hence, we can see that short term fundings are used to help startups and other businesses to stay afloat and the type of funding used by Mr. Boyd is trade credit.
Read more about trade credit here:
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Answer:
B
Explanation: I took the test.
The options are not listed. However, note that some principles that guide agency relationships include:
- The principle of confidentiality.
- The principle of acting with reasonable care.
- The principle of accountability.
The agency relationship occurs when a person is given the legal authority to act on behalf of another person.
When such a relationship exists, the principles of confidentiality, accountability, and acting with reasonable care are expected of the agent.
Learn more about agency here:
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