Exam 6: Creating Business Plans

The primary outside users of business plans are

List and briefly explain the suggestions given in the text for avoiding costly mistakes when hiring a consultant for assistance in business planning.

Most major accounting firms can guide the development of the written business plan.

Which of the following groups would be most interested in a business plan for a new venture?

Experience has shown that an effective plan should

When dealing with weaknesses in a business plan the owner should

Which of the following is least likely to provide assistance in preparing a business plan?

In a business plan, the facilities and location of the proposed venture are described in the

The executive summary of a business plan presents a firm's history and its form of organization.

Investors who review business plans typically

With the right assistance from professional sources (e.g., attorneys, accounting firms, incubator services), the entrepreneur can avoid direct involvement in developing the business plan.

A prospectus is

Time and money are factors that affect the extent of business plan preparation.