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WorksheetsBusiness Plan Quiz Year 8
Total questions: 15
Worksheet time: 8mins
What is the main purpose of a business plan?
To confuse stakeholders
To summarize aims and objectives
To hide potential problems
To increase risk of failure
Why is a business plan important to financial institutions like banks?
To minimize the risk of failure
To seek a loan
To make the enterprise fail
To increase the number of competitors
What does the contents of a business plan include regarding the enterprise?
Type of competitors
Name and address of enterprise
Number of customers
Cost of production
What is the purpose of doing market research in a business plan?
To increase costs
To check on competitors
To avoid customers
To hide information
What is the significance of personnel or human resources in a business plan?
To increase production costs
To reduce skills and experience
To avoid premises and equipment
To outline employees and managers
What does the finance section of a business plan include?
Expected profit and breakeven point
Type and location of premises
Method of production
Type and age of equipment
What is cash flow in a business plan?
Money comes IN by getting a bank loan
Money goes OUT when an enterprise avoids expenses
Money goes OUT when an enterprise makes payment in cash
Money comes IN by amount of cash sales
What happens if an enterprise becomes insolvent?
It becomes successful
It minimizes risks
It becomes bankrupt
It increases cash flow
What is the purpose of defining the product in a business plan?
To avoid market research
To hide goods produced
To outline goods produced or services offered
To increase competitors
Why is it important to anticipate potential problems in a business plan?
To increase the risk of failure
To minimize the risk of failure
To avoid stakeholders
To hide the direction of the enterprise
What is the role of premises and equipment in a business plan?
To outline employees and managers
To specify type, location, and cost of premises
To increase production costs
To define the enterprise
What is the purpose of the production and operations section in a business plan?
To avoid market research
To outline goods produced or services offered
To specify method of production and costs
To define the enterprise
Why is it important for stakeholders to be aware of the direction of the enterprise?
To confuse financial institutions
To avoid potential problems
To increase the risk of failure
To outline aims and objectives
What is the significance of the marketing or market section in a business plan?
To outline employees and managers
To avoid competitors
To do market research and check on competitors
To increase production costs
What is the purpose of the finance section in a business plan?
To outline goods produced or services offered
To specify method of production and costs
To define the enterprise
To include expected profit and breakeven point
