5 Questions
What is a Merchant Cash Advance (MCA)?
A lump sum payment to a business in exchange for an agreed-upon percentage of future receivables.
Are MCAs considered loans with collateral attached?
False
What is the basis for determining the amount of funding in an MCA?
Average incoming revenue in the form of deposits
Are MCA payments generally made monthly over a period exceeding 24 months?
False
Which of the following is a characteristic of MCAs?
No loan payment books
Test your knowledge on Merchant Cash Advance (MCA) and sales process with this training assessment. This quiz covers the introduction to MCA, including understanding the concept and its application in business financing. Practice multiple choice questions to gauge your understanding of MCA and its role in the sales process.
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