Question 1

A feasibility study and a business plan are essentially the same. ​

Accepted Answer

A) True 
 B)False  False

Question 2

Building a POC prototype reduces the risk of failure and clarifies customer needs. ​

Accepted Answer

A) True 
 B)False  True

Question 3

Anyone investing in a new venture has four principal concerns: rate of growth, return on investment, ____ and ____. ​

Accepted Answer

A) degree of risk / protection 
B) cash flow / degree of risk 
C) founding team / protection 
D) balance sheet / income statement 
E) assets / equity 
A) degree of risk / protection 
B) cash flow / degree of risk 
C) founding team / protection 
D) balance sheet / income statement 
E) assets / equity A

Question 4

____ is created when the business is adequately capitalized and has highly regarded investors, an experienced management team, customers, a unique technology, product, or service, the ability to continually innovate, and a rapidly expanding market. ​

Accepted Answer

A) Value 
B) Income 
C) Cash flow 
D) Equity 
E) None of these choices 
A) Value 
B) Income 
C) Cash flow 
D) Equity 
E) None of these choices

Question 5

The ____ is different from the other financial statements in that it looks at the financial health of the business at a single point in time.

Accepted Answer

A) balance sheet 
B) statement of cash flows 
C) current ratio 
D) profit margin 
E) income statement 
A) balance sheet 
B) statement of cash flows 
C) current ratio 
D) profit margin 
E) income statement

Question 6

Submitting a professionally crafted business plan is less important than making it clear what the entrepreneur has accomplished in the way of starting the business.

Accepted Answer

A) True 
 B)False

Question 7

Which section of the business plan details features and benefits as well as the plan for prototyping and testing? ​

Accepted Answer

A) Industry/market analysis 
B) Operations plan 
C) Marketing plan 
D) Product/service plan 
E) None of these choices 
A) Industry/market analysis 
B) Operations plan 
C) Marketing plan 
D) Product/service plan 
E) None of these choices

Question 8

A good way to test a new concept in the marketplace is through a ____. ​

Accepted Answer

A) feasibility study 
B) marketing plan 
C) business plan 
D) market test 
E) business test 
A) feasibility study 
B) marketing plan 
C) business plan 
D) market test 
E) business test

Question 9

A ____ is simply evidence that a technology, product, business model, or idea is feasible. ​

Accepted Answer

A) prototype 
B) marketing plan 
C) business plan 
D) proof of concept 
E) feasibility study 
A) prototype 
B) marketing plan 
C) business plan 
D) proof of concept 
E) feasibility study

Question 10

How does an entrepreneur benefit from a proof of concept with a prototype?

Accepted Answer

The entrepreneur develops a cl

Question 11

The new environment for business planning makes the case for the importance of a feasibility study and ____ to prove the concept and enable the founding team to launch the venture before completing the formal business plan.

Accepted Answer

A) micro strategies 
B) marketing plan 
C) POC 
D) executive summary 
E) prototype 
A) micro strategies 
B) marketing plan 
C) POC 
D) executive summary 
E) prototype

Question 12

The executive summary of the business plan should be no more than two pages long. ​

Accepted Answer

A) True 
 B)False

Question 13

As long as the market is growing, it is more important that the entrepreneur is solving a critical pain with a value proposition the customer quickly understands. ​

Accepted Answer

A) True 
 B)False

Question 14

The ____ plan specifies the legal form of organization that the venture will take, whether that be sole proprietorship, partnership, LLC, or corporation. ​

Accepted Answer

A) operations 
B) marketing 
C) financial 
D) organization 
E) industry 
A) operations 
B) marketing 
C) financial 
D) organization 
E) industry

Question 15

Which of the following is not a flaw that investors commonly find in business plans? ​

Accepted Answer

A) Overly optimistic projections 
B) Lack of enthusiasm 
C) Too much hype 
D) Poor explanation of the business model 
E) No demonstration of customer demand 
A) Overly optimistic projections 
B) Lack of enthusiasm 
C) Too much hype 
D) Poor explanation of the business model 
E) No demonstration of customer demand

Question 16

Briefly outline the entrepreneur's micro strategy for proof of concept.

Accepted Answer

It consists of three primary elements: (

Question 17

Which ratio uses net income and net sales from the income statement to give the percentage of each dollar of sales remaining after all costs of normal operations are accounted for? ​

Accepted Answer

A) Return on investment 
B) Inventory turnover 
C) Current ratio 
D) Profit margin 
E) Income statement 
A) Return on investment 
B) Inventory turnover 
C) Current ratio 
D) Profit margin 
E) Income statement

Question 18

Which of the following is not a principal concern of investors?

Accepted Answer

A) Rate of growth 
B) Return on investment 
C) Degree of risk 
D) Market analysis 
E) Protection 
A) Rate of growth 
B) Return on investment 
C) Degree of risk 
D) Market analysis 
E) Protection

Question 19

What are the most common mistakes that entrepreneurs make in developing a business plan? ​

Accepted Answer

Projecting rapid growth beyond the capab

Question 20

Which of the following is not a concern for lenders when they consider an entrepreneur for a loan? ​

Accepted Answer

A) The amount of money that is needed 
B) The kind of positive impact the loan will have on the business 
C) The number of strategic partners the venture has 
D) The kinds of assets the business has for collateral 
E) How the business will repay the loan 
A) The amount of money that is needed 
B) The kind of positive impact the loan will have on the business 
C) The number of strategic partners the venture has 
D) The kinds of assets the business has for collateral 
E) How the business will repay the loan

A feasibility study and a business plan are essentially the same.

Building a POC prototype reduces the risk of failure and clarifies customer needs.

Anyone investing in a new venture has four principal concerns: rate of growth, return on investment, and .

____ is created when the business is adequately capitalized and has highly regarded investors, an experienced management team, customers, a unique technology, product, or service, the ability to continually innovate, and a rapidly expanding market.

The ____ is different from the other financial statements in that it looks at the financial health of the business at a single point in time.

Submitting a professionally crafted business plan is less important than making it clear what the entrepreneur has accomplished in the way of starting the business.

Which section of the business plan details features and benefits as well as the plan for prototyping and testing?

A good way to test a new concept in the marketplace is through a ____.

A ____ is simply evidence that a technology, product, business model, or idea is feasible.

How does an entrepreneur benefit from a proof of concept with a prototype?

The new environment for business planning makes the case for the importance of a feasibility study and ____ to prove the concept and enable the founding team to launch the venture before completing the formal business plan.

The executive summary of the business plan should be no more than two pages long.

As long as the market is growing, it is more important that the entrepreneur is solving a critical pain with a value proposition the customer quickly understands.

The ____ plan specifies the legal form of organization that the venture will take, whether that be sole proprietorship, partnership, LLC, or corporation.

Which of the following is not a flaw that investors commonly find in business plans?

Briefly outline the entrepreneur's micro strategy for proof of concept.

Which ratio uses net income and net sales from the income statement to give the percentage of each dollar of sales remaining after all costs of normal operations are accounted for?

Which of the following is not a principal concern of investors?

What are the most common mistakes that entrepreneurs make in developing a business plan?

Which of the following is not a concern for lenders when they consider an entrepreneur for a loan?

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Prototyping a Solution

Protecting the Startups Assets

Calculating Startup Capital Requirements

Building the Founding Team

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

Exam 10: Preparing a Business Plan

A feasibility study and a business plan are essentially the same. ​

Building a POC prototype reduces the risk of failure and clarifies customer needs. ​

Anyone investing in a new venture has four principal concerns: rate of growth, return on investment, ____ and ____. ​

____ is created when the business is adequately capitalized and has highly regarded investors, an experienced management team, customers, a unique technology, product, or service, the ability to continually innovate, and a rapidly expanding market. ​

The ____ is different from the other financial statements in that it looks at the financial health of the business at a single point in time.

Submitting a professionally crafted business plan is less important than making it clear what the entrepreneur has accomplished in the way of starting the business.

Which section of the business plan details features and benefits as well as the plan for prototyping and testing? ​

A good way to test a new concept in the marketplace is through a ____. ​

A ____ is simply evidence that a technology, product, business model, or idea is feasible. ​

How does an entrepreneur benefit from a proof of concept with a prototype?

The new environment for business planning makes the case for the importance of a feasibility study and ____ to prove the concept and enable the founding team to launch the venture before completing the formal business plan.

The executive summary of the business plan should be no more than two pages long. ​

As long as the market is growing, it is more important that the entrepreneur is solving a critical pain with a value proposition the customer quickly understands. ​

The ____ plan specifies the legal form of organization that the venture will take, whether that be sole proprietorship, partnership, LLC, or corporation. ​

Which of the following is not a flaw that investors commonly find in business plans? ​

Briefly outline the entrepreneur's micro strategy for proof of concept.

Which ratio uses net income and net sales from the income statement to give the percentage of each dollar of sales remaining after all costs of normal operations are accounted for? ​

Which of the following is not a principal concern of investors?

What are the most common mistakes that entrepreneurs make in developing a business plan? ​

Which of the following is not a concern for lenders when they consider an entrepreneur for a loan? ​

Understanding Entrepreneurship

Preparing for the Entrepreneurial Journey

Creating Opportunity

Analyzing the Industry and Market

Developing and Testing a Business Model

Prototyping a Solution

Protecting the Startups Assets

Calculating Startup Capital Requirements

Building the Founding Team

Designing an Entrepreneurial Organization

Choosing the Legal Form of Organization

Developing the Startup Marketing Plan

Creating a Startup Funding Strategy

Incorporating Ethics and Social Responsibility Into the Business

Planning for Growth and Change

Funding Growth

Filters

A feasibility study and a business plan are essentially the same.

Building a POC prototype reduces the risk of failure and clarifies customer needs.

Anyone investing in a new venture has four principal concerns: rate of growth, return on investment, and .

____ is created when the business is adequately capitalized and has highly regarded investors, an experienced management team, customers, a unique technology, product, or service, the ability to continually innovate, and a rapidly expanding market.

Which section of the business plan details features and benefits as well as the plan for prototyping and testing?

A good way to test a new concept in the marketplace is through a ____.

A ____ is simply evidence that a technology, product, business model, or idea is feasible.

The executive summary of the business plan should be no more than two pages long.

As long as the market is growing, it is more important that the entrepreneur is solving a critical pain with a value proposition the customer quickly understands.

The ____ plan specifies the legal form of organization that the venture will take, whether that be sole proprietorship, partnership, LLC, or corporation.

Which of the following is not a flaw that investors commonly find in business plans?

Which ratio uses net income and net sales from the income statement to give the percentage of each dollar of sales remaining after all costs of normal operations are accounted for?

What are the most common mistakes that entrepreneurs make in developing a business plan?

Which of the following is not a concern for lenders when they consider an entrepreneur for a loan?