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WorksheetsENTREP4:BUSINESS PLAN IMPLENTATION-1:MIDTERM EXAMINATION
Total questions: 40
Worksheet time: 30mins
Budgeting involves creating a plan for how a business will spend its money over a specific
Budget line
Period
Record
Department
Which of the following describes financial forecasting?
Reviewing last year’s budget
Estimating future revenues and expenses
Paying suppliers on time
Writing a business proposal
The main purpose of budgeting is to:
Avoid future plans
Increase costs
Manage resources effectively
Decrease income
Cash flow refers to:
The movement of goods between suppliers
The movement of money in and out of the business
The flow of customers entering the store
The record of employee hours
Which statement helps a business identify its assets, liabilities, and equity?
Cash Flow Statement
Income Statement
Balance Sheet
Profit Report
What does liquidity ensure?
Enough cash to meet daily obligations
More long-term debts
Reduced supplier payments
Increased liabilities
Managing costs allows an entrepreneur to:
Spend without control
Cut unnecessary expenses
Eliminate sales
Financial forecasting is based on:
Guessing future prices
Current data and trends
Past marketing campaigns
Employee surveys
The purpose of accurate record-keeping is to:
Record all business transactions correctly
Reduce transparency
Hide company income
Avoid financial reports
Variance analysis compares:
Sales with competitors
Forecasted results with employee ratings
Actual performance with the financial plan
Marketing data with production volume
Which of the following is an example of cash outflow?
Customer payments
Rent and salaries
Sales revenues
Investments received
Entrepreneurs monitor cash flow to ensure:
The business remains liquid
Profit loss occurs
Debts increase
Cost overrun
Which statement summarizes income and expenses over time?
Balance Sheet
Income Statement
Cash Flow Report
Budget Sheet
A financial plan becomes effective when:
Cash flow is monitored regularly
Records are ignored
Spending is uncontrolled
Budgets are skipped
The movement of money into a business from customers is called:
Outflow
Inflow
Equity
Debt
The process of identifying value-generating expenses and cutting unnecessary ones is known as:
Forecasting
Cost management
Budgeting
Accounting
Which statement provides insights into liquidity?
Balance Sheet
Cash Flow Statement
Audit Report
Annual Budget
The process of estimating future profitability is called:
Financial forecasting
Budgeting
Variance analysis
Record-keeping
Entrepreneurs evaluate financial goals through:
Variance analysis
Supplier audit
Cost computation
Income review only
Accurate financial records allow a business to:
Delay payments
Measure its performance
Hide financial data
Skip evaluation
(a) is the process of planning how a business will spend its money.
A (a) is a plan that outlines expected income and expenses.
(a) forecasting estimates future revenue and expenses.
The movement of money in and out of the business is called (a) .
Managing (a) involves reducing unnecessary expenses.
Accurate (a) ensures that all transactions are properly recorded.
Financial statements show a business’s overall (a) .
The (a) statement reports income, expenses, and profit.
The (a) sheet presents assets, liabilities, and equity.
The (a) statement shows the inflow and outflow of cash.
(a) management identifies value-generating expenses.
A business must maintain accurate (a) to achieve transparency.
Financial plans should be reviewed and (a) regularly
Paying rent or utilities is an example of cash (a) .
A good business plan is useless unless it is (a) upon
Branding is the process is the creating of a (a) for a product or service
Coca-cola positions itself as a beverage associated with (a) & togetherness.
Risk Management is the process of identifying, assessing, and mitigating threats that could negatively impact a (a) .
Key performance indicators (KPIs) aligned with (a) objectives.
According to (a) (2012), financial management during implementation is about translating financial plans into operational results-ensuring that projections made in the business plan are achieved through proper monitoring and decision-making.
