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WorksheetsBusiness Plan
Total questions: 30
Worksheet time: 18mins
Name
Class
Date
1.
What is a business plan?
a)
A gallery of photos that explains the location and construction of the business
b)
A written plan that is a description of all the aspects of the business and includes the business's goals
c)
A collection of plans that are combined from different business and then analyzed and compared to your business
d)
none of the above are correct; a business plan is simply a list of guidelines that tell successful business's how to run their company in order to make a profit
2.
What should the aspect of the cover sheet or table of contents NOT include?
a)
owners name, company name, and the business's address
b)
website, email address
c)
the business logo
d)
the competitors of that business
3.
What should the aspect of the company description include?
a)
diagrams, photographs
b)
vision and mission statement
c)
back up description of the target market, why your idea will be successful and capture the market and why the opportunity is present
d)
all of the above
4.
What is the most important part of your business plan?
a)
Executive Summary
b)
Table of Contents
c)
Background
d)
Financial Plan
5.
Which of the following parts of a business plan include the cash flow projection and the repayment plan?
a)
Background and History
b)
Executive Summary
c)
Market Research
d)
Financial Plan
6.
Which part of the business plan explains the process of attraction of customers to your business and how you determined the appropriate customers?
a)
Market Research/anaylsis
b)
Financial Plan
c)
Background and History
d)
all of the above
7.
What is the difference between the Start Up plan and the Occupational Plan? Which statement is correct
a)
The Occupational Plan tells where you want and plan to start the busines
b)
Occupational Plan describes in detail how your business will operate
c)
Start Up Plan- explains why you chose the business frame and location
d)
Start Up Plan- Includes diagrams of production or areas of service
8.
What does the area of Background research or History explain?
a)
Describes yourself and what experiences you bring to the venture
b)
describes the customers basis that the product will suit
c)
Includes the address of the business and the owner's contact information
d)
It includes all of the above
9.
What are the advantages of creating a business plan?
a)
It allows the entrepreneur to focus on what they want to accomplish
b)
Allows the process they will take to do it become simple and easy
c)
Allows them to accomplish their desired task
d)
All of the above
10.
Where do you state the vision for the company, how much money you need, and how you hope to pay the money back well as the opportunity?
a)
Executive Summary
b)
Financial Plan
c)
History
d)
Table of Contents
11.
True or False: If your executive summary is more than three pages it will most likely not be read
a)
True: too much is not needed when writing an executive summary the readers will be bored
b)
False: More is always needed when writing an executive summary
c)
both of the above
d)
none of the above
12.
Why are business plans used for potential investors and banks?
a)
for start up funds
b)
they are not used by investors and banks
c)
They are only used by banks NOT investors
d)
none of the above
13.
Which of the following is NOT a part of the business plan?
a)
Index Venture
b)
Funds
c)
Creation Process
d)
all of the above
14.
Which part of the business plan includes the 4 P's Place Product Production Price?
a)
Marketing Research/anaylisis
b)
History
c)
Table of Contents
d)
Contact Information
15.
What are the disadvantages of creating a business plan?
a)
It will be more complicated to identity the companies competition
b)
distracts entrepreneur's from allowing their business to grow
c)
Leads away from the desired task that was the goal to be accomplished
d)
none of the above
16.
How many essential parts are there to a business plan?
a)
5
b)
6
c)
7
d)
8
17.
What are the 7 essential parts to creating a business plan?
a)
1.Executive Summary 2.Company Description 3.Product/Services 4.Market Analysis 5.Strategy 6.Organizational/ management team 7.Finicial Plan
b)
none of the above
c)
all of the above
18.
What part of the plan focuses on what you are selling and the benefits that the customers will receive (the cost of the marketed items/acts)?
a)
Company Description
b)
Product/Services
c)
Strategy
d)
Market Analysis
19.
Which part of the plan outlines the structure of the company, identifies the owner's of the company and their percentage, and lists board members?
a)
Financial Plan
b)
Organization
c)
Strategy/ Implementation
d)
Executive Summary
20.
What part of the plan deals with details about promotion, pricing, and distribution, as well as on how the business will reach customers within their target market?
a)
Strategy
b)
Market Analysis
c)
Company Description
d)
Financial projections/plans
21.
This part of a business plan shows the knowledge of the industry and includes statistics on marketing data for the companies products/services, and evaluates competition
a)
Executive Summary
b)
Company Description
c)
Strategy
d)
Market Analysis
22.
Which part of the business plan should include the income statements of the company and balance sheets (cash flow)
a)
Market Analysis
b)
Financial Plan
c)
Financial Projection
d)
both b and c
23.
Where would an example of the descriptions the department/ key employees fit in?
a)
Organizational
b)
Executive Summary
c)
Financial Plan
d)
Product/Service
24.
True or false : A business plan is important for businesses seeking funding?
a)
true
b)
false
c)
both
d)
neither
25.
This part should draw the readers attention in order to continue reading the business plan
a)
Product/Service
b)
Executive Summary
c)
Market Analysis
d)
Strategy
26.
Includes a biography listing the owners skills and their background information
a)
Management team
b)
Financial Plan
c)
Products
d)
Projections
27.
Includes the operating hours of the company
a)
Strategy / Implementation
b)
Financial Plan
c)
Executive Summary
d)
all of the listed
28.
Includes long and short term business goals
a)
Company description
b)
Products
c)
Financial Plan
d)
Services
29.
Includes the purpose of the plan
a)
Financial Plan
b)
Products
c)
Executive Summary
d)
Company Description
30.
Includes finicial highlights of marketing
a)
Product
b)
Cover page
c)
Location summary
d)
Company Description
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