WorksheetsEntrepreneurship Chapter 3 Test Review
Total questions: 20
Worksheet time: 10mins
A formal explanation of a company's goals
mission statement
company description
financial plans
management plan
a brief overview of the company including the business name, a summary of the business and location of the business
company description
mission statement
management plan
financial plans
the component of the business plan that refers to how a company will be organized
company description
mission statement
management plan
financial plans
the income earned by a business
company description
revenue
management plan
financial plans
a projection of what an entrepreneur expects out of the sales and expenses of a business
pro forma financial statements
revenue
management plan
financial plans
the component of the business plan that contains a strategy for how a business will obtain start-up capital, identify sources of financing, and assess the costs and benefits of resources
pro forma financial statements
revenue
management plan
financial plans
Which of the following is NOT a characteristic of a business plan?
presentation outline
operating plan
cover page
owner's credentials
What type of plan refers to how a company will be organized?
financial
marketing
theoretical
management
Additional information that may be needed about the business venture is often included in what section of a business plan?
executive summary
operating plan
appendix
mission statement
What part of the business model canvas divides potential customers into categories based on shared attributes and behaviors.
value proposition
customer segment
key activities
channels
There are typically __ areas outlined in a business canvas model that guides entrepreneurs.
nine
six
ten
five
A __ clearly outlines the value a product or service brings to a customer segment.
value proposition
key activity
customer segment
mission statement
The ___ is a physical statement of business goals and how the entrepreneur will achieve them.
business plan
organizational structure
canvas model
company description
As part of a management plan, may entrepreneurs create an __ for their entrepreneurial venture and develop job descriptions for positions.
organizational structure
purpose
business plan
company description
Marketing plans include ___ and taglines, target audience, market and competitive analysis, and a strategy for how products will be sold to the customer.
logos
net worth
company description
business canvas model
___ are the most critical component of a business plan.
financial plans
canvas model
company description
business plan
Three factors are forecasted in pro forma financial statements: projected income and revenue, projected cash flow and projected ____.
net worth
purpose
financial plans
business model
The __of a business plan is to help entrepreneurs make realistic decisions about starting and operating a business.
purpose
logo
organizational structure
company description
A business ___ is a template that entrepreneurs can use to guide them in defining the value their products and services will bring to the customer.
canvas model
plan
company description
financial statements
The ___ section of a business plan is usually placed near the beginning to establish a framework for the reader.
company description
mission statement
financial plan
net worth
