Understanding a Business Plan

Understanding a Business Plan

Assessment

Passage

Business

10th Grade

Hard

Created by

MIN KYUNG KIM

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a business plan described as?

A type of road map

A financial statement

A marketing strategy

A legal document.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business plan should be developed by anyone wanting to start a business. It is a written proposal describing a prospective business to potential investors and _______.

customers

lenders

employees

partners

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a key action a business plan should accomplish?

Convince investors the business will be profitable

Identify unnecessary legal procedures

Establish yearly steps to operate the business

Ignore month-to-month operations.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A business plan should _______ necessary legal procedures for business start-up.

ignore

identify

complicate

simplify

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is included in the 'Business Description and Analysis' section of a business plan?

Business type

Business philosophy

Product description

All of the above.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fill in the blank: Your business philosophy tells others how you think the business should be operated and your understanding of your business’s role in the ________.

marketplace

office

community

environment

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is included in the trading area analysis of a business plan?

Geographic, economic, and demographic data

Market trends

Financial projections

Product design

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