stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Entrepreneurship-5.1 Review Flashcards | StudBud
Explore
/
Entrepreneurship-5.1 Review
Long-term sales projections are
A business plan should
Entrepreneurship-5.1 Review
16 terms
·
StudBud Administration
·
11 plays
Imported from external platform
Flashcards
16 cards
F
Practice quiz
P
Host live
L
Questions
16
Answers
1
A business plan should
list your competitors
all of these
list your accomplishments
detail who will run the business
2
Long-term sales projections are
for two or four years
for five years in the future
for ten years
don't matter
3
Lenders require a business plan before they will consider financing a business.
True
False
4
Writing a business plan can help you identify problems you might encounter in the future.
False
True
5
Once business is up and running, you will rarely use your business plan in making decisions.
True
False
6
A business must have a completely new product/service to convince investors the idea is solid.
True
False
7
A business plan helps to convince banks and other people to invest in your business plan
True
False
8
Before they will consider financing a business, lenders require
a business plan
a family history
a retirement plan
an organization chart
9
How a business plans to keep customers shouldn't be in the business plan.
True
False
10
A good business plan includes sales projections for the short, medium, and long term.
True
False
11
A business plan is important for all these reasons except
it helps you secure financing
it helps you communicate your ideas
it helps you decide the product or service
it makes you think about all aspects of it
12
A business plan should contain the purpose of the business.
False
True
13
A business plan is only necessary if you need to secure financing for your business.
True
False
14
A business plan explains how your product or service
is new or better than another
all of these
will be sold
will be produced
15
After it is completed, you can use your business plan to
help manage your business
none of these
identify your target customer
identify your product/service
16
The backgrounds and experience of people who will run the business shouldn't be in the plan.
False
True
