states how much you want to borrow.

A business plan's title page includes all of the following except

a brief description of the business.

The marketing section of a business plan contains all of the following EXCEPT

a list of websites about your product

Before you can get a business loan for a new business...

you'll need to show the leaders of the business are suited to the business

is an independent federal agency that helps businsess get funding

A business plan is important for all of the following reason EXCEPT

it helps you decide what to sell

Which of the following is not an element of the financial management section of your plan?

Distribution of profits and losses

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Eship Chapter 3 Review

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Questions 18

Answers

1
An executive summary
should be no longer than one or two paragraphs.
states how much you want to borrow.
has supporting documents for main report
should be written before the business plan is completed.
2
A business statement that projects revenues and expenses is called...
money sheet
budget
W-2 Forms
financial statement
3
A business plan's title page includes all of the following except
the name of the company.
the date.
a brief description of the business.
the owner's name.
4
Information about necessary equipment for your business is included in a business plan's
financial management section
operations
marketing section
concluding statement
5
Developing a business plan helps to
A think though business strategies
all of the above
identify potential obstacles
recognize limitations
6
Long term sales projections are...
ten years into the future
not needed in a plan
five years into the future
two to four years after startup
7
The marketing section of a business plan contains all of the following EXCEPT
who your prospective customers are.
how you plan to enter the market.
how you plan to deal with competition.
a list of websites about your product
8
Online resources for your business...
are not as updated as print materials
Can only be found through the SBA
can be found through Google
should not be considered for your business plan
9
The introduction section of a business plan contains all of the following except
the advantages your business has over your competitors.
a description of the nature of the business.
the legal structure of the business.
an identification of risks.
10
Before you can get a business loan for a new business...
all employees need to be interviewed by lenders
you'll need to show the leaders of the business are suited to the business
you need to invest some of your own money
you need to have client ready to buy
11
The SBA...
is an independent federal agency that helps businsess get funding
will give everyone who applies a loan
can help startups in Canada and Mexico
all of the above
12
A business plan is important for all of the following reason EXCEPT
it can help you secure financing
it helps you present your business plans
it helps you decide what to sell
it makes you think about every aspect of the business
13
The appendix of a business plan might include
recommendation letters
tax history of owner
copy of required licenses
all of the above
14
All of the following are common mistakes entrepreneurs make except...
Unrealistic financial projections
Bad hiring process
Ignoring competition
Poor research
15
A local resource that can give trends affecting local business, local resources, and license info
Chamber of Commerce
Trade association
SCORE
SBA
16
Which of the following is not an element of the financial management section of your plan?
Financial statements
Distribution of profits and losses
Identification of risks
Funding request and return on investment
17
Before they will consider giving you the money you'll need...
A business plan
all of the above
the history of your product
a list of people you plan to work for you
18
All of the following are resources for small businesses EXCEPT:
Chamber of Commerce
Small Business Administration
New Business Administration
SCORE

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