Marketing Application II

A business plan is a written document to guide the development and operation of a new business

• True

• False

A business plan is to show potential investors what your business will look like and how successful it can be.

• True

• False

There are three main forms of business. Which of the following is not a form of business?

• Sole proprietorship

• Sole partnership

• Corporation

• Partnership

All companies doing business within the state of New Jersey must obtain a Business Registration Certificate

• True

• False

A corporation must file with the state it is doing business in a Certificate of Incorporation or an Article of Incorporation.

• True

• False

A Partnership must file the form SS-4 with the internal Revenue Service.

• True

• False

A Sole proprietorship has a charter that is a legal document allowing it to operate has a person.

• True

• False

Trade credit is a form of credit a business gives to individual consumers.

• True

• False

Trade credit terms 2/15 net 30 means you have thirty days before the invoice is due for full payment.

• True

• False

It is not important for a business to know who its target market will be.

• True

• False