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- 1. Multiple ChoiceWhich section of a business plan is generally first but written last?Executive summaryBusiness description and visionOrganization and managementDescription of market
- 2. Multiple ChoiceWhat's the biggest mistake you can make when preparing a business plan?Failing to include at least one appendixNot telling a compelling storyMisrepresenting factsFailing to have a clear vision of the business
- 3. Multiple ChoiceWhich of the following information is never included in the financial management section of a business plan?An income statementA cash flow statementA personal financial statementNone of the answers are correct
- 4. Multiple ChoiceWhat's a typical time frame that a business plan addresses?Three to five yearsOne yearThe anticipated life of the businessAt least ten years
- 5. Multiple ChoiceWhat do you call a written document that outlines a business's objectives and the strategy and tactics that it will use to achieve those objectives over anywhere from a three to five year period of time.A business planA medium term planA strategic planAn SBA certified business plan
- 6. Multiple ChoiceWhy is being an entrepreneur risky?Because there are no more creative enterprises to create a business out of.Because entrepreneurs always fail.Because you often risk your own personal wealth.Because people don't trust entrepreneurs.
- 7. Multiple ChoiceIf you possess excellent organizational skills, but are risk-averse and don't like taking initiative, would being an entrepreneur be a good profession for you?Yes, entrepreneurs should be risk-averse.No, entrepreneurs should rely on others to organize the business.No, entrepreneurs must be risk-takers who take initiative and have excellent organizational skills.Yes, all you need is good organizational skills.
- 8. Multiple ChoiceBill Gates is probably all of the following EXCEPT:independent.a risk-taker.an effective communicator.someone who relies on the opinions of others.
- 9. Multiple ChoiceWhy is creating an entrepreneurial team a good idea?Because it increases your investments.Because entrepreneurs prefer to work with people.Because it ensures your business will be a success.Because you spread out the risk and use each other's skills.
- 10. Multiple ChoiceWhich one of the following is NOT a type of problem that an entrepreneur must often solve?Product designManagementFinancingNone of the answers are correct
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