Lesson 2 Part 1 Quiz (Tsubaki)

What is the primary purpose of a business plan?

• • To serve as a blueprint that guides the business and helps in evaluating results.

• To hire employees and define their job descriptions.

• A tool to attract potential employees and partners.

• A list of competitors to the business and their market strategies.

What is the key difference between the Address of the business and the Location of the business sections?

• The address is for online businesses, while the location is for physical businesses.

• The address simply states the exact business, while the location gives the reason for the selection of the place.

• The address is for the owner, while the location is for the business.

In a sole proprietorship, how many owners are there?

• There is only one owner.

• Two or Three owners.

• Four or Five owners.

• Six or Seven owners.

It determine the external and internal factors affecting the business performance?

• Environmental Analysis

• Societal Analysis

• Industry Analysis

• Global Analysis

What information about the partners must be indicated in case of partnership? 

• The names, nationalities, and the address of the incorporators.

• The partners favorite place.

• The name of the business partners, including the extent of their liabilities.

• The partners previous work experiences.

Which type of analysis involves evaluating how societal forces affect the proposed business?

• Environmental Analysis

• Societal Analysis

• Industry Analysis

• Global Analysis

A business owner is evaluating the potential impact of a government's planned jeepney modernization program on their proposed transport business. Which analysis section would this fall?

• Environmental Analysis

• Societal Analysis

• Industry Analysis

• Global Analysis

In a corporate entity, what information about the incorporators must be provided?

• The name of the partners, including the extent of their liabilities.

• The partners previous work experience.

• The name, nationalities, and address of the incorporators.

• The incorporators previous business venture.

Which of the following section of business plan, the total initial or estimated cost of the business venture must be clearly stated?

• Location of the business

• Funding Requirement and Source

• Description of the business

• Proposed Name of the Business

What is the primary purpose of the production schedule?

• To outline the processing plan.

• To present the total number of goods to be produced and the expected time to produce them.

• To present the estimated cost of producing the goods.

• To describe the specific procedures for making a product.