Laurent is starting his own game development business. What is a benefit to separating his personal finances and his business finances?

Question

A. potential qualification for business loans
B. accounting is more difficult
C. game development budget impacts his personal budget
D. account balance in the business account will stay low

Answer 1

A. potential qualification for business loans

Separating personal and business finances can help with the transparency and organization of the business's financial records, making it easier for Laurent to qualify for business loans. It also helps in ensuring that personal expenses do not mix with business expenses, making it easier to track and manage finances.