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Week 6 - Y10 BEP Quiz #2 Flashcards | StudBud

Explore/Week 6 - Y10 BEP Quiz #2

Week 6 - Y10 BEP Quiz #2

10 terms·StudBud Administration·16 plays

Developing a business plan #entrepreneurship

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Questions 10

Answers

1
Writing a business plan:
is a quick and easy process
none of the above
is quick but difficult
requires patience, research, thought, and time
2
Why is it important to have a business plan?
Because if you fail to plan you plan to fail
Because you can provide it to your competitors
Because the government requires you to
3
The main body of a business plan includes which of the following:
financial management
executive summary
supporting documents
statement of purpose
4
The purpose of including supporting documents in a business plan is to:
make the plan lengthy
provide additional information
explain your business idea
make you look smart
5
Which of the following organizations can help you write your business plan?
Small Business Development Center
bank
all of the above
Small Business Administration
6
A letter that introduces and explains an accompanying document
statement of purpose
cover letter
harvest strategy
executive summary
7
A short restatement of a report is called a(n):
business plan
executive summary
cover letter
statement of purpose
8
A brief explanation of why you are asking for a loan and what you will do with the $
statement of purpose
business plan
executive summary
trade association
9
A business plan is NOT intended for:
your bank
potential investors
your competition
business partners
10
Once you prepare a business plan you must stick to the plan and never change it.
True
False