Edward took out a second mortgage on his home to finance his new business.He makes all the decisions and keeps all the profits.Edward is:

Question

Quizplus · Accepted Answer

Edward is an entrepreneur as he has taken a financial risk by using his home as collateral and is running a business where he makes decisions and profits on his own. Bootstrapping refers to starting and growing a business with minimal external funding, while a partner implies the presence of another person/entity sharing profits and decision-making responsibilities. Administrators typically manage existing businesses rather than creating new ones.

Edward Took Out a Second Mortgage on His Home to Finance