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- 1. Multiple ChoiceA target market is a group of _______ that the _______ has decided to aim its marketing efforts and ultimately its merchandise towards.Companies, BusinessCompanies, ResearchCustomer, BusinessBusiness, Customer
- 2. Multiple Choicea business planis useful once your business is operational but not much help during the startup phaseis not usually needed to secure financing in your businesscan serve as a tool for managing your business once it is up and runningAll of the above
- 3. Multiple Choice
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
- 4. Multiple Choice
Why do you need a business plan?
To explain your idea
the ability to get financing.
it's a road map that sets objectives and goals for the business
All of the above
- 5. Multiple Choice
All partnerships must be 50 - 50?
True
False
- 6. Multiple Choice
Your business plan should never list any risks or potential problems.
True
False
- 7. Multiple Choice
True or False: Business plans are used by new, rather than established, firms
TRUE
FALSE
- 8. Multiple Choice
Which of the following statements about business plans is TRUE?
Business plans eliminate risk to lenders
Business plans reduce risk to lenders
Business plans increase risk to lenders
Business plans have no impact on risk to lenders
- 9. Multiple Choice
Which of these pieces of information would NOT be in a business plan put together by a new business?
Target market
Market research
Profit
Estimated cashflow
- 10. Multiple Choice
An entrepreneur is creating a business plan for a new business ; they are including a section on sources of finance. Which of these are appropriate sources of finance to suggest? (Suggest as many as are appropriate)
Grant
Retained profit
Owner savings
Bank loan
- 11. Multiple Choice
This part of a business plan shows the knowledge of the industry and includes statistics on marketing data for the companies products/services, and evaluates competitionExecutive SummaryCompany DescriptionStrategyMarket Analysis - 12. Multiple Choice
Which of the following is it OK to leave out of a business plan?
Executive summary
Location
Marketing
Employees needed
None of the above
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