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- 1. Multiple Choice
'It is a comprehensive document prepared to assist the entrepreneur in analysing the market and planning the business strategy'. This statement best describes
an operational plan
a business plan
an organization plan
a financial plan
- 2. Multiple Choice
The following are the prime reasons for preparing a business plan, except
to allow the entrepreneur to objectively, critically, and practically evaluate a business proposal
to study and evaluate the viability of the proposed project before it is implemented
to ensure that the proposed project is free from all the problems
to instil confidence in potential financiers for the purpose of securing financing facilities
- 3. Multiple Choice
The following factors need to be considered before making a purchase of machinery and equipment, except
price
supplier's reputation
brand name
availability of spare parts
- 4. Multiple Choice
The main reasons for preparing a financial plan are
to determine all the costs that are involved in starting a new business venture
to determine the financial position of the company at the end of the financial period
to appraise the viability of the proposed project before it is actually implemented
to identify resources such as capital, labour, and buildings to evaluate the cash position throughout the financial period
to evaluate the cash position throughout the financial period
- 5. Multiple Choice
A business plan gives room for entrepreneurs and their employees to develop an effective strategy to run the business.
True
False
- 6. Multiple Choice
Lack of commitment and dedication is one of the pitfalls in preparing a business plan.
True
False
- 7. Multiple Choice
There are only 2 strategies in the marketing strategies in the marketing mix, which are pricing strategy and promotion strategy.
True
False
- 8. Multiple Choice
Business plans should be kept a short and precise as possible.
True
False
- 9. Multiple Choice
A complete business plan should starts with
Executive summary
Cover letter
Appendices
- 10. Multiple Choice
All documents that support the business plan should be included in this section. It include support document from financial institutions, copies of the course certificates, offer letter for tender, permit and else.
Table of contents
Appendices
Cover letter
Executive summary
- 11. Multiple Choice
There are SIX formats of business plan
True
False
- 12. Multiple Choice
The main sections of business plan are the following except:
Executive summary
Administration plan
Operational Plan
Marketing Plan
Financial plan
- 13. Multiple Choice
Business plan is important for _________________ because it can determine the future credit terms and the viability of ventures.
Suppliers
Financial institutions
Investors
Shareholders
- 14. Multiple Choice
Which one is not the importance of business plan.
creates the opportunity for success
determines the right way of managing the business
decrease the stakeholder's confidence
sets the business mission
- 15. Multiple Choice
Most businesses work towards their goals and based on some pressure applied by the time of completion.It refers to
measurable
attainable
simple
time-bound
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