Most startup companies can expect to need _____ capital than they anticipate. - ANSWER More
The primary cause of small business failures is: - ANSWER Management Mistakes
Entrepreneurs tend to be overly ______ and misjudge the ______ requirements to start a new business. - ANSWER Optimistic; Financial
The ability to develop new ideas is known as: - ANSWER Creativity
Which one of the following is usually included on the cover page of the business plan? - ANSWER Disclaimer Which one of the following management skills should a prospective team member possess? - ANSWER Prepared to Recruit High-Quality People Which one of the following is not true regarding a business plan? - ANSWER A business plan is a document that describes the success factor of an ongoing business.Which one of the following is not a part of the executive summary section of the Business Plan? - ANSWER Competition Information Which one of the following is an overview of the business plan intended to capture reader interest? - ANSWER Executive Summary Which one of the following should be included in the environmental and industry analysis section of the business plan? - ANSWER Trends at the national and international levels that could influence the business.Which one of the following should be identified form among the main competitors to the planned business? - ANSWER Quality Leader FBLA Entrepreneurship Test Questions With Verified Answers – Latest 2024/2025 Graded A+ 1 / 2
Which one of the following is not a part of the marketing research and evaluation section of the business plan? - ANSWER Potential for Long Term Growth All business plan information includes assumptions based on information available. How should this be addressed in the business plan? - ANSWER The differing results if and when results differ from projections should be included.Every business plan contains forecasts that include risk. What is one positive way to address risk? - ANSWER The business plan should present alternatives.Developing a business plan is a good way to: - ANSWER Prevent costly oversights in the creation of a business.Which one of the following is true concerning the product/service description section of the business plan? - ANSWER Plans to expand the product line or service.Which one of the following would be the most relevant important consideration in the selection of the right geographic location for a service business. - ANSWER Proximity to Customers Which one of the following benefits to the community in which the business is or will be located should be addressed in the business plan? - ANSWER Job Creation Which one of the following risks can be controlled or at least adequately prepared for? - ANSWER Unexpected Development Costs The financial plan section of the business plan is an important component. Which one of the following is not required? - ANSWER Statement of Changed in Equity Which one of the following would not be a recommended attribute for the business management team member? - ANSWER Someone Whom the Owner Knows Personally Which stage of the creative process involved viewing similarities and differences in the information collected? - ANSWER Transformation _____ is a process in which a small group of people interacts to produce a large quantity of
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