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The Business Plan

Authored by Ken Furstenau

Life Skills

10th - 12th Grade

Used 4+ times

The Business Plan
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25 questions

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1.

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 Cover Letter

A Statement of Purpose

A Business Plan

An Executive Summary

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A set of buyers sharing common needs or characteristics that your business will decide to serve is:

The Target Market

The lenders and investors

an example of a long-term goal

All of the answers are correct

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The part of the business plan that summarizes the goals and objectives of your Business plan:

Concluding Statement

Executive Summary

The Cover Letter

The Statement of Purpose

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are included in the Introductory (Introduction) section of the Business Plan?

The Detailed Description

Ownership and Legal Structure

Skills and Leadership you bring

Advantages you have over your competitiors

All of the answers are correct

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following business types has two or more owners who share in the profits and the losses

Partnership

Sole Proprietorship

Corporation

Limited Liability Sole Proprietorship

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Corporations are businesses owned by shareholders and run by a board of directors

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A medium term goal can and should be achieved in:

Less than a year

Between two and five years of starting your business

After you have been in business for five years

None of the answers describe a medium-term goal

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