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Entrepreneurship 12 Chapter 7 Flashcards | StudBud

Explore/Entrepreneurship 12 Chapter 7

Entrepreneurship 12 Chapter 7

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Chapter 7: The Venture Plan Quiz

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Questions 10

Answers

1
A not-for-profit enterprise does not need a venture plan. True or False.
True
False
2
What do incubators provide for new ventures?
All of the above
Business Training
Office Space & Technology
Mentors
3
Which is NOT a section of the business venture plan?
Organizational Hierarchy
Market Analysis
Executive Summary
Financial Stategy
4
Which of the following statements are NOT accurate?
A venture plan helps businesses save time
A venture plan is only useful for new businesses
A venture plan assesses potential risks
A venture plan is constantly revised as circumstances change
5
Which one of the circumstances shows a break-even point?
Total Revenues > Total Costs
Total Revenues < Total Costs
Fixed overhead = 0
Total Revenues = Total Cost
6
Which is NOT a reason to prepare a venture plan?
To decrease competition
To determine how much financing is needed
Get to know competition
To identify target markets
7
What happens during the prestartup stage?
Identifying problems
All of the above
Resource Allocation
Generating ideas
8
Which is NOT one of the stages of a business life cycle?
Turnaround Stage
Prestartup Stage
Break-even Stage
Development Stage
9
What is the correct order of a business life cycle?
2, 3, 4, 1, 5
3, 2, 5, 1, 4
2, 3, 5, 1, 4
None of the above
10
What is a venture plan?
A business startup
A plan that helps employees organize a successful project
Merchandise that a business sells
A summary of a business' goals