Chapter 3 - Develop a Business Plan

Chapter 3 - Develop a Business Plan

11th - 12th Grade

20 Qs

quiz-placeholder

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Chapter 3 - Develop a Business Plan

Chapter 3 - Develop a Business Plan

Assessment

Quiz

Life Skills

11th - 12th Grade

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Created by

Joanna Binette

Used 233+ times

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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a business plan?

Written document that only outlines the business practices of the new business.

Written document that describes the financial aspects of the business.

Written document that only describes the ownership of the business.

Written document that describes all the steps necessary for opening and operating a successful business.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Why do you need a business plan?

To explain your idea

the ability to get financing.

it's a road map that sets objectives and goals for the business.

To help reduce the risk of business failure.

All of the above.

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Complete the sentence: A business plan...

is useful once your business is operational but not much help during the startup phase

is not usually needed once the business is up and running

can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A potential business owner’s qualifications and those of any partners

Company Description

Management Team

Growth Plan

Executive Summary

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A brief account of the key points contained in a business plan
Executive Summary
Company Description
Mission Statement
Vision Statement

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Describing how you came up with the idea for your business can help others understand how your business will operate.

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Writing a business plan can force entrepreneurs to think about their goals.

True

False

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