Deck 13: Proposals, Business Plans, and Formal Business Reports

Question 1

Informal proposals should close with a reminder of key benefits as well as a request for approval.

Answer 1

True

Question 2

Most proposals begin by briefly explaining the reasons for the proposal and by highlighting the writer's qualifications.

Answer 2

True

Question 3

Formal business reports generally aim to study problems and recommend solutions.

Answer 3

True

Question 4

Executive summaryand abstract are interchangeable terms for the summary in the front matter of a proposal.

Question 5

You should provide a time limit in the letter of transmittal accompanying a formal proposal,such asThis bid will be in effect until November 30.

Question 6

The funds obtained through a grant proposal must be repaid.

Question 7

If you are writing a solicited proposal,your goal in the background section is to convince the reader that a problem exists.

Question 8

Formal proposals differ from informal proposals only in length.

Question 9

It is acceptable to omit a list of figures in a proposal as long as the proposal contains only a few tables or figures.

Question 10

Proposals are written offers to solve problems,provide services,or sell equipment.

Question 11

In determining which business plans to fund,investors search for a concept with promising growth potential rather than the most unique product or service.

Question 12

An effective opening for an informal proposal might be We are pleased to submit this proposal describing how our ethics training program can help your employees make the best decisions when faced with ethical dilemmas on the job.

Question 13

A grant writer is the vital connecting link between a funder and the grant seeker.

Question 14

Most proposals are unsolicited.

Question 15

A copy of the RFP (request for proposal)should be included in the front matter of a formal proposal.

Question 16

Many investors look carefully at the experience of the management team because they consider this the most important factor in assessing business potential.

Question 17

A business plan is necessary only when seeking financial support from venture capitalists.

Question 18

Formal business reports are similar to formal proposals in that they both make offers.

Question 19

The budget outlined in a proposal is considered to be an estimate - with the understanding that if your costs increase the budget can be adjusted accordingly.

Question 20

Most proposals are external.

Question 21

Your final proofreading step in report writing should be for spelling,punctuation,grammar,and other mechanical errors.

Question 22

Which section of a proposal typically identifies the problem and discusses the goals or purposes of the project?

A)Background
B)Staffing
C)Budget
D)Authorization Request

Question 23

Redesign the website to reduce the number of steps needed to place an order shows effective wording for a formal report recommendation.

Question 24

The transmittal letter or memo that accompanies a formal business report is usually directly organized and written less formally than the report itself.

Question 25

Select the most accurate statement about proposals.

A)Most internal proposals are written in response to Requests for Proposals (RFPs).
B)Most proposals are unsolicited.
C)Proposals can mean life or death for an organization.
D)Most proposals are internal.

Question 26

In the introduction section of a proposal,which of the following would be the best way to persuade the receiver to read the rest of the proposal?

A)Mention a remarkable resource available exclusively to you.
B)Present a detailed budget that shows a low overall cost.
C)Give the background and credentials of everyone who will be working on the project.
D)Provide a timetable for all activities.

Question 27

Executive summaries of formal reports should be limited to one page.

Question 28

Which type of organization is dependent on proposals?

A)Large profit-making organizations
B)Smaller profit-making organizations
C)Nonprofit organizations
D)All of these

Question 29

Unsolicited proposals should ________.

A)​present a flexible budget in case costs increase.
B)convince the reader that a problem exists.
C)use the language of the RFP.
D)begin with the overall cost of your services and/or products.

Question 30

The conclusions should always be placed in a separate section following the body of a formal business report.

Question 31

The introduction to a proposal typically ________.

A)lists the proposed project costs
B)highlights the writer's qualifications
C)asks for approval or authorization
D)does all of these

Question 32

Whether you're using the Modern Language Association (MLA)or the American Psychological Association (APA)referencing style,you should list all sources chronologically in the order you consulted them.

Question 33

Which of the following components is typically included in a formal proposal but is optional in an informal proposal?

A)Budget
B)Staffing
C)Authorization Request
D)Abstract or summary

Question 34

The Conclusions and Recommendations sections of a report serve the same function.

Question 35

Functional headings,such as Analysis of Findings or Discussion,are useful for sensitive topics that may upset the reader.

Question 36

The same information may be included in the letter of transmittal,executive summary,and introduction of a formal business report.

Question 37

Will is writing a solicited proposal in response to an RFP and is working on the background section.What is his goal in this section?

A)To convince the reader that a problem exists
B)To make himself look professional
C)To show the reader how much accepting the proposal will cost
D)To persuade the reader that he understands the problem completely

Question 38

Grant proposals aim to ________.

A)sell products or services
B)secure funding
C)​increase profits
D)start new businesses​

Question 39

The actual proposal section of a proposal must ________.

A)describe the credentials and expertise of the project leaders.
B)identify the resources you will use,including computer facilities.
C)tell what you propose to do and how it will benefit the reader.
D)do all of these.

Question 40

You should not begin writing a report until after you havecollected all the data anddrawn the primary conclusions.
​

Question 41

Appendixes of formal reports and proposals are typically labelled ________.

A)A,B,and so on
B)1,2,and so on
C)with Roman numerals
D)in sequence with the pagination of the document

Question 42

The company description in a business plan should ________.

A)identify the form of your business and its business type
B)discuss market characteristics,trends,projected growth,and barriers to entry
C)explain how the product or service you are providing will benefit customers
D)explain specifically how you will run your business

Question 43

An executive summary included with a formal proposal is typically ________.

A)one page long
B)three to four pages long
C)five to six pages long
D)up to 10 percent of the original text

Question 44

A grant proposal includes ________.

A)a needs statement that explains a problem or situation that the grant project proposes to address
B)an action plan that tells what will be done by whom and when
C)a plan for measuring progress toward completion of the grant proposal's goal
D)all of these components

Question 45

A(n)________ may be defined as a description of a proposed company that explains how it expects to achieve its marketing,financial,and operational goals.

A)executive summary
B)business plan
C)mission statement
D)abstract

Question 46

The budget included in a proposal ________.

A)is tentative and may be modified later
B)represents a contract
C)should be open-ended for acceptance
D)should not include a deadline for acceptance because doing so might seem too pushy

Question 47

Which of the following statements about business plans is least accurate?

A)Business plans are generally written in response to RFPs.
B)A business plan is another form of proposal.
C)A business plan is critical for securing financial support of any kind.
D)The reader of a business plan is typically a bank loan officer,a venture capitalist,or an investor.

Question 48

The title page of a formal proposal should include ________.

A)the name of the client organization
B)the RFP number or other announcement
C)the title of the proposal
D)all of these choices

Question 49

Which of the following is the most accurate statement about the executive summary?

A)An executive summary is written for specialists or technical readers.
B)An executive summary is generally shorter than an abstract.
C)The content of an executive summary should be more technically oriented than an abstract.
D)A formal proposal may contain both an executive summary and an abstract.

Question 50

A business plan's mission statement ________.

A)is optional
B)must be written in eight or fewer words
C)explains the purpose of a business and why it will succeed
D)All of these statements about a business plan mission statement are correct

Question 51

Which of the following statements about business plans is least accurate?

A)For existing companies,the company description section should describe the company's founding,growth,sales,and profits.
B)Investors are looking only for unique products or services.
C)Start-up companies should explain in the product/service description section why the business will be profitable.
D)The product/service description section should explain why your product or service is better than existing products or services.

Question 52

The front matter of a formal proposal may include ________.

A)a copy of the RFP
B)letter of transmittal
C)executive summary
D)all of these

Question 53

The ________ section of an informal proposal may include a request for approval or authorization,a reminder of key benefits,and a deadline beyond which the offer is invalid.

A)​background
B)staffing
C)​budget
D)​conclusion

Question 54

The staffing section of an informal proposal may ________.

A)identify the size and qualifications of the support staff
B)describe the credentials and expertise of the project leaders
C)identify resources such as computer facilities that will be used during the project
D)do all of these

Question 55

A letter of transmittal submitted with a formal proposal should ________.

A)provide ancillary (supplemental)materials of interest to readers
B)include a list of the costs for the entire project
C)briefly present the major features and benefits of the proposal
D)describe the credentials and expertise of the project leaders

Question 56

The executive summary of a business plan ________.

A)can be as long as needed to get your message across
B)should be written first to get your thoughts in order
C)can be combined with the mission statement
D)All of these statements about a business plan's executive summary are correct

Question 57

Which of the following is most likely to appear in the appendix section of a formal proposal?

A)A copy of the RFP
B)A list of tables and figures that appear in the proposal
C)The résumés of principal investigators or testimonial letters
D)An executive summary of the proposal

Question 58

Sarah has decided to include a timetable in a proposal she is writing.She will most likely place it in the ________.

A)introduction
B)proposal section
C)budget section
D)authorization section

Question 59

What is the least accurate statement about formal proposals?

A)To be considered a formal proposal,it must be at least 100 pages long.
B)Larger businesses may employ specialists who do nothing but write proposals.
C)Proposals use standard components that enable companies receiving bids to compare "apples with apples." 
D)Smaller firms rely on in-house staff to develop proposals.

Question 60

What is the most accurate statement about grant proposals?

A)Grant money received must be repaid.
B)Funds received through a grant proposal can be used for any purpose,not just those outlined in the proposal.
C)Grants are often made to the U.S.government,private foundations,and public corporations.
D)Skilled grant writers are among the most in-demand professionals today.

Question 61

A potential angel investor is reading your business plan for a new start-up company.What will this investor most likely consider to be the most important factor in assessing your business potential?

A)Whether you're aware of all of your direct and indirect competitors
B)Whether you've come up with a realistic start-up budget
C)Whether your management team can implement the business plan
D)Whether your start-up company will use social media for marketing and communication

Question 62

Which of the following would not be included in the appendixes of a business plan?

A)Managers' résumés
B)Sales forecasts and anticipated cash flow
C)Promotional materials and product photos
D)A realistic start-up budget

Question 63

Which government agency provides themost useful advice for writing a business plan?

A)Internal Revenue Service
B)Small Business Administration
C)Securities and Exchange Commission
D)Department of Homeland Security

Question 64

Which of the following would not appear in the operations and management section of a business plan?

A)How you will run your business
B)Who your competitors will be
C)The personnel and management of your business
D)The location of your business and the equipment you will use

Question 65

The section in the introduction to a formal business report that tells why the report topic is important is the ________.

A)scope
B)significance
C)authorization
D)background

Question 66

Which of the following components is typically included in a formal report but is optional in an informal report?

A)Body
B)Conclusion
C)Introduction
D)Table of contents

Question 67

The financial analysis section of a business plan should ________.

A)be included only if you have an existing company
B)omit exact dollar figures
C)explain how much money you already have
D)omit one-time expenses

Question 68

Because they contain many parts that serve different purposes,formal reports are somewhat redundant.To avoid sounding repetitious,you should _________.

A)present the data slightly differently
B)not include information that has been presented elsewhere
C)skip the introduction if it contains information that has been presented elsewhere
D)assume that your reader saw information in an earlier section

Question 69

The part of a formal report that highlights the important points for people who may not have time to read the entire document is the ________.

A)budget
B)executive summary
C)authorization
D)table of contents

Question 70

The ________ section of a business plan provides an overview of complementary products and services and a summary of the strengths and weaknesses of your direct and indirect competitors.

A)market analysis
B)operations and management
C)financial analysis 
D)​product or service description

Question 71

The table of contents for a short formal business report should ________.

A)include all headings
B)include only first- and second-level headings
C)be prepared before you start writing the report
D)be omitted

Question 72

A(n)________ summarizes what other authors and researchers have published on the topic of your report and is especially important for academic and scientific reports.

A)executive summary
B)Works Cited
C)literature review
D)methods review

Question 73

Tamara must send the same formal report to several readers.What should she do?

A)Send the same letter of transmittal to all readers.
B)Omit the letter of transmittal.
C)Prepare a special letter of transmittal for each,anticipating how each reader will use the report.
D)Include a letter of transmittal for only the primary reader.

Question 74

Rick has asked you for help in preparing an executive summary of a formal business report he is writing.What is the best advice you can give him?

A)To add variety to your report,prepare your executive summary in a different sequence from the report itself.
B)Use a lot of technical language to impress your reader.
C)Begin the executive summary with your purpose.
D)Make the executive summary as long as necessary to be persuasive.

Question 75

What is the purpose of a traditional report cover?

A)To give the report a professional,finished appearance
B)To hide the title of the report so that you can build suspense
C)To take the place of the title page
D)All of these choices

Question 76

Appearing in the introduction,the ________ of a formal business report clarifies the boundaries of the report and defines what will be included or excluded.

A)scope
B)significance
C)background
D)authorization

Question 77

The ________ of a formal business report contains the report title,the name of the person receiving the report,the author's name,and the date of submission.

A)report cover
B)title page
C)table of contents
D)executive summary

Question 78

Which of the following statements about formal business reports is least accurate?

A)Formal reports are similar to formal proposals in length,organization,and serious tone.
B)Formal reports are written for internal audiences only.
C)Formal reports present the end product of thorough investigation and analyses.
D)Breaking a long formal report into small segments makes it easier to understand.

Question 79

In a formal report,the letter or memo of transmittal usually ________.

A)follows the indirect plan
B)uses no contractions or first-person pronouns
C)highlights the report's findings,conclusions,and recommendations
D)is as formal as the report itself

Question 80

Which of the following statements would not be appropriate for a letter or memo of transmittal?

A)I would be glad to do follow-up research if required.
B)I appreciate the opportunity to have completed this research project.
C)This report investigating the need to relocate the corporate offices was authorized by Doug Peters.
D)The questionnaire shown here was used to collect data for this report.