BUSINESS PLAN
Authored by Nabila Mazlam
Business
University
Used 21+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
'It is a comprehensive document prepared to assist the entrepreneur in analysing the market and planning the business strategy'. This statement best describes
an operational plan
a business plan
an organization plan
a financial plan
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The following are the prime reasons for preparing a business plan, except
to allow the entrepreneur to objectively, critically, and practically evaluate a business proposal
to study and evaluate the viability of the proposed project before it is implemented
to ensure that the proposed project is free from all the problems
to instil confidence in potential financiers for the purpose of securing financing facilities
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The following factors need to be considered before making a purchase of machinery and equipment, except
price
supplier's reputation
brand name
availability of spare parts
4.
MULTIPLE SELECT QUESTION
1 min • 1 pt
The main reasons for preparing a financial plan are
to determine all the costs that are involved in starting a new business venture
to determine the financial position of the company at the end of the financial period
to appraise the viability of the proposed project before it is actually implemented
to identify resources such as capital, labour, and buildings to evaluate the cash position throughout the financial period
to evaluate the cash position throughout the financial period
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business plan gives room for entrepreneurs and their employees to develop an effective strategy to run the business.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Lack of commitment and dedication is one of the pitfalls in preparing a business plan.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
There are only 2 strategies in the marketing strategies in the marketing mix, which are pricing strategy and promotion strategy.
True
False
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