For this week's activity, you will provide information on long-term liability concerning financing a business.

1. You are about to buy a business that is worth $200,000, but you do not have enough money to purchase the business entirely. You have a total of $90,000 in savings and you are looking at different financing options. Provide information for the following:

• Explain the advantages of equity financing and debt financing
• Explain the disadvantages of equity financing and debt financing
• Provide an example of equity financing
• Provide an example of debt financing
• Explain which type of long-term liability financing you would choose to buy the business?

2. Provide a suggestion for future business owners on financing that you have learned from Unit 7 Learning journal assignment.

3. What did you learn about yourself as a potential business owner while completing this assignment that you did not know about yourself prior?