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Entrepreneurship: Develop a Business Plan Flashcards | StudBud

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Entrepreneurship: Develop a Business Plan

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Developing a business plan

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Questions 10

Answers

1
A brief explanation of why you are asking for a loan and what you will do with the $
trade association
executive summary
business plan
statement of purpose
2
Writing a business plan:
none of the above
is quick but difficult
is a quick and easy process
requires patience, research, thought, and time
3
The purpose of including supporting documents in a business plan is to:
explain your business idea
make you look smart
provide additional information
make the plan lengthy
4
A business plan is NOT intended for:
your competition
potential investors
your bank
business partners
5
An entrepreneur's plan for extracting money out of the business after it has become successful
harvest strategy
statement of purpose
financial manganement
pro forma financial statement
6
The main body of a business plan includes which of the following:
supporting documents
executive summary
financial management
statement of purpose
7
Mistakes to avoid when preparing a business plan include all EXCEPT:
providing unrealistic financial projections
failing to define the target market
wasting time on research
ignoring the competition
8
A letter that introduces and explains an accompanying document
harvest strategy
statement of purpose
executive summary
cover letter
9
Which of the following organizations can help you write your business plan?
bank
Small Business Development Center
Small Business Administration
all of the above
10
A short restatement of a report is called a(n):
cover letter
statement of purpose
executive summary
business plan