What is the difference between an angel investor and a venture capitalist?
What will be an ideal response?
Answer: An angel investor is a wealthy individual who wants to make an investment, whereas a venture capitalist is typically a company who wants a stake in the company in return for part ownership.
Explanation: Angel investors and venture capitalist can both make an investment in a new business, but venture capitalists are typically looking for part ownership in the company.
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If your $5000 gold watch is stolen, how would your Homeowners policy respond?
A) The loss is limited to $1,500 and subject to a deductible. B) The loss is fully covered, but subject to a deductible. C) The loss is limited to $1,500 and is not subject to a deductible. D) The loss is not covered at all without a scheduled personal property endorsement.
After audit procedures are completed, a partner of the CPA firm who has not been involved in the audit performs a second or wrap-up audit documentation review. This second review usually focuses on
a. Whether the financial statements are consistent with the auditor's understanding of the entity b. Fraud involving the client's management and its employees c. The materiality of the adjusting entries proposed by the audit staff d. The communication of internal control weaknesses to those charged with governance