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
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
Related questions
John Is Raising Money on a Crowdfunding Site,and in Return ...
Crowdfunding Has Been Used to Raise Billions of Dollars for ...
Indiegogo Is the Largest Global Crowdfunding Site in the World
Equity Crowdfunding Is Increasing in Popularity All Over the World
What Is Characteristic of the Lending Model of Crowdfunders ...