Business Plan

Your business plan should never list any risks or potential problems.

• True

• False

Only certain businesses face risk.

• True

• False

Lenders will not lend you money if you have disclose your risks.

• True

• False

Which of the following is not a purpose of a business plan?

• it set specific business objectives

• It describes the backgrounds and experience of the business's leadership team

• it includes sales goals for at least 10-12 years into the future

• it explains the idea behind the business

Within the main body of the business plan, which section contains information about your business's advantages

• The introduction section

• The marketing section

• The financial management section

• The operation section

Which of the following would not be considered a risk to a business

• Customer slipping on ice in your parking lot

• An employee stealing your inventory

• Customer posting negative thing about your business

• Receiving positive feedback about your service

Which of the following would be considered a proactive measure to hedge against business risk

• Employees washing their hands

• Regular maintenance on equipment

• Prior financial checks on credit customers

• All of the above

Which of the following would be considered possible revenue for an ice cream store?

• ice cream sales

• birthday parties

• bike accessories

• soda and water

Which of the following would be considered a cost to a business?

• equipment sales

• credit allowance

• rent

• none of the above

How would you describe the industry section of the business plan?

• is the social science that studies the production, distribution, and consumption of goods and services.

• the production of goods or related services within an economy.

• refers to the activities of a company associated with buying and selling a product or service.

• a vital activity in any organization. It is the process of planning, organizing, controlling and monitoring financial resources with a view to achieve organizational goals and objectives.