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Chapter 3 Review

Authored by Shelly Leifer

Specialty

8th - 12th Grade

13 Questions

Used 8+ times

Chapter 3 Review
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business plan is not intended for

your competition

potential investors

your bank

any of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Purposes of a business plan include which of the following?

It explains our idea for a product or service

It sets specific objectives and descrobes how they will be achieved

It describes the backgrounds and experience of the people who will run the business

all of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a true statement regarding risks?

Identifying the possible risks your business faces will alarmlenders and investors and cause them to withold funds.

Potential investors and lenders want to know the risks your business faces and how you plan to deal with them.

Lenders will appreciate the fact that you know the risks you face and have a plan for dealing with them.

Lenders know that every business faces risks

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The purpose of including supporting documents in a business plan is to

make the plan lengthy

provide additional information

give the readers more information than they might need

explain your business idea

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A written document that describes all the steps necessary for opening and operating a successful business is

a business plan

a cover letter

pro forma financial statements

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A financial statement based on projected revenues and expenses

business plan

pro forma financial statement

cover letter

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A letter that introduces and explains an accompanying document or set of documents

trade associations

exit strattegy

cover letter

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