Chapter 3: Develop a Business Plan *q&A ktr

a written document that describes all the steps necessary for opening and operating a successful business

A-Business plan

Which of the following is not a true statement regarding risks?

A-Identifying the possible risks your business faces will alarm lenders and investors and cause them to withhold funds

a business plan is not intended for

A-your competition

A letter that introduces and explains an accompanying document or set of documents

B-cover letter

The purpose of including supporting documents in a business plan is to

B-provide additional information

Which of the following describes why you are asking for a loan and what you plan to do with the money

B-statement of purpose

Mistakes to avoid when preparing your business plan include all expect

B-wasting time of research

the main body of a business plan includes which of the following elements

C-finical management

A business plan is important for a new business for all of the following reasons expect

C-it guarantees you will get financing for your business

Writing a business plan

C-requires patience

Which of the following organizations can provide assistance when writing your business plan

D-all of the above

purposes of a business plan include which of the following

D-all of the above

organization made up of more than 10,500 retired executives who volunteer their time to provide entrepreneurs with real-word advice ad know-how

E-SCORE

an independent agency of the federal government created to help amecians start build and grow businesses

F-SBA

A brief explanation of why you are asking for a loan and what you plan to do with the money.

H-statement of purpose

Organizations made up of professionals in a specific industry

I-trade associations

A short restatement of the report

c-executive summary

a finical statement based on projected revenues and expenses

d-pro forma