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
