Exam 2: Mini Constructing a Successful Business Plan

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A potential investor wants to know if the proposed auto body shop will be offering warranties on its service. In which section of the business plan should the investor look?

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Companies should put their financials through a ________ by showing how they expect the business to perform in different situations.

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In which section of a business plan would you find a statement that another company charges more money for a similar product?

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All of the following are included within the business plan BEFORE the appendices EXCEPT ________.

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Steven wants to buy ten acres of land and start an organic farm near his home. He does not think that he has time to write a business plan. Describe three potential consequences of NOT writing a business plan.

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Which of the following entrepreneurs would MOST likely start their business as quickly as possible, spending little time on a business plan?

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Which of the following statements is TRUE about the components of a business plan?

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Even though it is a professional document filled with details and financial statements, it is important to capture the investor's attention by making the business plan interesting to read.

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A well-written business plan can help an entrepreneur with all the following EXCEPT ________.

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Which section of a business plan lists what a company thinks customers would be willing to pay for the merchandise?

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In which section of a business plan would you MOST likely find copies of trademarks?

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Once a business has been operating for more than a year, it makes little sense to write a business plan if one has not been previously written.

(True/False)
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Lucia needs to create financial projections for her executive summary. Which calculations should Lucia present to a potential investor in the executive summary?

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Describe in a paragraph why a well-defined business plan may attract high-quality employees.

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The following are all key elements in the company and management team section of the business plan EXCEPT ________.

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Rick's business plan cover sheet includes basic company information, the month and year of the business plan, and the names of the people who prepared his plan. What key information did Rick not include on the cover sheet?

(Multiple Choice)
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Troy has included a cover sheet and table of contents in his business plan. What should he include next?

(Multiple Choice)
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First describe a potential business you would like to start. Then describe three ways a business plan could help you be more successful.

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Which of the following statements is MOST correct about the writing of business plans?

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What is the purpose of the appendices in a business plan?

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