Question:* Financial Statements Include
Answer: • All of the above
Question:* The 4Ps are also known as:
Answer: • Marketing mix
Question:* A Business Plan should not include a section about regulatory issues since this is out of the business owners hands. True or False
Answer: • False
Question:* How long should a typical business plan project for?
Answer: • 3-5 years
Question:* Estimating capital requirements is important for the:
Answer: • Break-even analysis
Question:* True or False? A business plan should only focus on short term objectives
Answer: • False
Question:* What is the first section in a traditional business plan?
Answer: • Executive summary
Question:* What does Market Share mean?
Answer: • The portion of a market controlled by a particular company or product.
Question:* What does the 'T' stand for in SWOT analysis?
Answer: • Threat
Question:* Potential creditors will often be interested in gaining collateral before lending. True or False
Answer: • True
Question:* Answering which of the following questions does NOT help in understanding a niche?
Answer: • How will the Board of Directors help implement capital controls?
Question:* The Purpose of the Company Description in the Business Plan is:
Answer: • (all of these)
Question:* True or False: Narrowing the target for potential clients helps because it concentrates sales efforts to a selective group that is most likely to be most profitable.
Answer: • True
Question:* New funds can be put toward which of the following?
Answer: • All of the above
Question:* In a competitor analysis, what should you focus on?
Answer: • All of these
Question:* In the financial forecasting, operating profit margin should be:
Answer: • Positive
Question:* True or False: Start-up companies are almost always succesful in the first few years.
Answer: • False
Question:* Who are the most important readers of a business plan?
Answer: • Investors
Question:* What should organizational structures include?
Answer: • All of these
Question:* Legal issues like non-disclosure agreements and patents are NOT important considerations for the business.
Answer: • False
Question:* True or False: A partnership is normally run by one entreprenuer
Answer: • False
Question:* It is common for creditors to want historial financial statements, True or False
Answer: • True
Question:* An appendix may include:
Answer: • All of these
Question:* True or False? A business plan should state a value proposition.
Answer: • True
Question:* Ratio and Trend Analysis can help to create a better picture of profitability and growth potential. True or False
Answer: • True
Question:* Which of these is an example of a competitive strategy?
Answer: • All of these
Question:* Sales targets should be:
Answer: • Both specific and measurable
Question:* What is the Executive Summary of a Business Plan?
Answer: • A snapshot of your business plan as a whole and touches on your company profile and goals.
Question:* True or False: The Market Analysis of your business plan should illustrate your industry and market knowledge as well as any of your research findings and conclusions.
Answer: • True
Question:* SWOT Stands for
Answer: • Strengths, Weaknesses, Opportunities, Threats
Question:* What is ROI?
Answer: • Return on Investment
Question:* True or Fales: An Organization Chart is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.
Answer: • True
Question:* When requesting funding it's important to be clear on:
Answer: • All of these
Question:* International sales can be hampered by:
Answer: • All of the above
Question:* What should the prospective financial data include?
Answer: • All of these
Question:* One common method for selecting prices is called Cost Pricing Strategy. This means:
Answer: • Calculating the Costs of Production/Service per unit and adding a per unit profit margin
Question:* True or False? You should have concise bulleted lists in a business plan.
Answer: • True
Question:* Financial Projections are done before Market Analysis and objectives are set. True or False.
Answer: • False
Question:* True or False? It is acceptable to use business jargon or pop culture references in a business plan.
Answer: • False
Question:* Which should NOT be included in an executive summary?
Answer: • Exhibits
Question:* What is not included in variable costs?
Answer: • Technology
Question:* The use of exhibits are intended for:
Answer: • Visual information that is easier to interpret than words
Question:* Market Penetration Strategy is one of the Strategies underlying Cost Control. True or False
Answer: • False
Question:* A pricing strategy where you set your prices high for quick cash and little emphasis on market penetration is called:
Answer: • Price skimming
Question:* Marketing Strategies can be composed of:
Answer: • Growth Strategy
Question:* In a business plan the Funding Requests portion should include:
Answer: • Strategic Financial Situations
Question:* What is the post-money valuation for a $1.5 million round of investment when the equity stake offered is 25%?
Answer: • $6 million
Question:* In the Competitive Analysis It's important to include:
Answer: • Potential Barriers to the Market
Question:* A good way to analyze the external environment is with a(n):
Answer: • PEST Analysis
Question:* What will a VRIO framework help distinguish?
Answer: • Competitive potential
Question:* The first thing to assess in your market analysis is the:
Answer: • Industry outlook
Question:* The section of your business plan that is similar to an "elevator pitch" is the:
Answer: • Company Description
Question:* For a typical executive summary, what is the maximum length?
Answer: • 3 pages
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