Entrepreneurship - Chapter 3 - 3.2

Regardless of the business, all business plans serve the same basic purposes.

• True

• False

Only corporations need to include a section detailing the form of ownership in a business plan.

• True

• False

The marketing section of your business plan should describe the location of your business.

• True

• False

A financial statement based on projected revenues and expenses is called an informal financial statement.

• True

• False

The financial management section of your business plan should state how much money you need to borrow and how you plan to use the money.

• True

• False

A brief explanation of why you are asking for a loan and what you plan to do with the money is called an executive summary.

• True

• False

The executive summary appears after the body of the business plan.

• True

• False

A handwritten business plan is acceptable if it is neat, well organized, and inviting to read.

• True

• False