
Entrepreneurship Ch. 3 test review
Authored by Lorri Goss
Business
11th - 12th Grade
Used 252+ times

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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A business plan is not intended for
your competition
potential investors
your bank
any of these
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Organizations made up of professionals in a specific industry that exist to provide information, education, support, and networking opportunities to individuals in their industry.
business plan
pro forma financial statements
statements
trade associations
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Mistakes to avoid when preparing a business plan include all of the following except
providing unrealistic financial projections
wasting time on research
ignoring the competition
failing to define the target market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A business plan is important for all of the following reasons except
it makes you think about all aspects of your business
it helps you communicate your ideas to others
it guarantees you will get financing for your business
it can serve as a tool for managing your business
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Organizations made up of professionals in a specific industry are called
entrepreneurs
trade associations
trade shows
SBDCs
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the financial management section of a business plan, an entrepreneur should include ____ , which are statements based on projected revenues and expenses.
business plan
pro forma financial statements
statements
trade associations
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A financial statement based on projected revenues and expenses
executive summary
pro forma financial statement
cover letter
business plan
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