You have a bond that you can redeem for $10,000 one year from now. The interest rate is 3 percent (0.03) per year. How much is the bond worth today?

Regarding the privilege of incorporation (the right to organize an enterprise in the corporate form), all of the following are true except

(a) It gives a business firm limited liability, perpetual life and the rights of a citizen. (b) It is not provided for directly by the Constitution because, apart from state governments, the Constitution made no provisions for groups. (c) It is provided for at all levels of government—federal, state and local. (d) There is no "except"; all of the above are true.

According to "Where Do Start-Ups Get Their Money?" venture capital is not an option for most entrepreneurs. Where does the majority of funding come from for start-ups?

A. Second mortgages on personal homes. B. Bank business loans. C. Personal savings. D. Business and personal credit cards.