Asked by Lucid Tangerine on Feb 18, 2024
Verified
In reference to crowdfunding,a backer is best described as ______.
A) a person who will pay back a loan if you fail to do so
B) a person who contributes support in a crowdfunding venture
C) a financial institution that lends money to a startup
D) the financial institution that manages the transfer of money
- Understanding the concept of crowdfunding
- Identifying the role of a backer in crowdfunding
- Differentiating a backer from other entities involved in crowdfunding
Verified Answer
SL
Shakadrain Laster
Feb 18, 2024
Final Answer :
B
Explanation :
A backer is someone who supports a project or venture by contributing money or resources through crowdfunding. They are not a person who lends money or manages the transfer of money, nor are they responsible for paying back a loan.
Learning Objectives
- Understanding the concept of crowdfunding
- Identifying the role of a backer in crowdfunding
- Differentiating a backer from other entities involved in crowdfunding
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