Question 1

Which of the following statements may be the most important in new venture creation?

Accepted Answer

A) pro forma balance sheet 
B) income statement 
C) cash-flow statement 
D) profit statement 
A) pro forma balance sheet 
B) income statement 
C) cash-flow statement 
D) profit statement

Question 2

A business plan should be no more than 150 pages.

Accepted Answer

A) True 
 B)False

Question 3

The most common viewpoint in business plans is viewpoint of the

Accepted Answer

A) entrepreneur. 
B) marketplace. 
C) financial source. 
D) competitor. 
A) entrepreneur. 
B) marketplace. 
C) financial source. 
D) competitor.

Question 4

Surprisingly, entrepreneurs frequently forget to include _____ in the business plan.

Accepted Answer

A) the name of the company 
B) the return address or phone number 
C) the month and year the plan is issued 
D) a customer endorsement 
A) the name of the company 
B) the return address or phone number 
C) the month and year the plan is issued 
D) a customer endorsement

Question 5

Which of the following helps an entrepreneur avoid the pitfall of not having realistic goals?

Accepted Answer

A) identifying a niche market 
B) setting up a timetable of specific steps 
C) following up on professional appointments 
D) developing employee zeal 
A) identifying a niche market 
B) setting up a timetable of specific steps 
C) following up on professional appointments 
D) developing employee zeal

Question 6

Which of the following questions should an entrepreneur ask when a business plan is turned down?

Accepted Answer

A) Can't you recognize a good plan when you see one? 
B) Can you identify friends who would like this kind of deal? 
C) If you were in my position, how would you proceed? 
D) Can I ask you why you didn't like me? 
A) Can't you recognize a good plan when you see one? 
B) Can you identify friends who would like this kind of deal? 
C) If you were in my position, how would you proceed? 
D) Can I ask you why you didn't like me?

Question 7

Competitive analysis, advertising plan, and pricing policy are all part of the _____ segment.

Accepted Answer

A) research, design, and development 
B) marketing 
C) milestone schedule 
D) financial plan 
A) research, design, and development 
B) marketing 
C) milestone schedule 
D) financial plan

Question 8

The business plan is the entrepreneur's road map for a successful enterprise.

Accepted Answer

A) True 
 B)False

Question 9

The business plan provides the details of the _____ potential of a business.

Accepted Answer

A) market 
B) product growth 
C) financial growth 
D) entrepreneurial 
A) market 
B) product growth 
C) financial growth 
D) entrepreneurial

Question 10

Which of the following is not one of the steps in reading a business plan?

Accepted Answer

A) establishment of the unique feature in this venture 
B) reading of the latest balance sheet 
C) thorough reading of each section 
D) brief review of the history of the company 
A) establishment of the unique feature in this venture 
B) reading of the latest balance sheet 
C) thorough reading of each section 
D) brief review of the history of the company

Question 11

The easiest way to avoid the pitfall of no commitment or dedication is to designate that the venture is a hobby or a whim.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following statements is not part of the "five-minute reading" by venture capitalists?

Accepted Answer

A) Determine the characteristics of the venture and industry. 
B) Determine the strengths and weaknesses of the entrepreneur. 
C) Determine the financial structure of the plan. 
D) Read the latest balance sheet. 
A) Determine the characteristics of the venture and industry. 
B) Determine the strengths and weaknesses of the entrepreneur. 
C) Determine the financial structure of the plan. 
D) Read the latest balance sheet.

Question 13

An indicator of the planning pitfall of "failure to anticipate roadblocks" is

Accepted Answer

A) ignoring opinions of investors. 
B) not recognizing future problems. 
C) lacking action steps. 
D) pursuing a good workforce. 
A) ignoring opinions of investors. 
B) not recognizing future problems. 
C) lacking action steps. 
D) pursuing a good workforce.

Question 14

How should an entrepreneur prepare to present his or her business plan?

Accepted Answer

The presentation should be organized, we

Question 15

The manufacturing segment of the business plan should identify key personnel, their responsibilities and positions, and career experience that qualifies them for those particular roles.

Accepted Answer

A) True 
 B)False

Question 16

Lack of any time frame to accomplish things is an indicator of the pitfall known as no realistic goals.

Accepted Answer

A) True 
 B)False

Question 17

The recommended length of a business plan is

Accepted Answer

A) about 100 pages. 
B) about 25 pages. 
C) no more than 150 pages. 
D) 10 pages, at the maximum. 
A) about 100 pages. 
B) about 25 pages. 
C) no more than 150 pages. 
D) 10 pages, at the maximum.

Question 18

An entrepreneur should include a three- to five-year financial projection so that the financial source can adequately evaluate the venture.

Accepted Answer

A) True 
 B)False

Question 19

The text discusses all of the following important guidelines to follow when putting the plan together except

Accepted Answer

A) keeping the plan respectably short. 
B) highlighting critical risks. 
C) avoiding exaggeration. 
D) impressing with excessive detail. 
A) keeping the plan respectably short. 
B) highlighting critical risks. 
C) avoiding exaggeration. 
D) impressing with excessive detail.

Question 20

Which of the following is not a pitfall that should be addressed in planning a venture?

Accepted Answer

A) milestones 
B) flexibility 
C) specific profit goals 
D) realistic goals 
A) milestones 
B) flexibility 
C) specific profit goals 
D) realistic goals

Which of the following statements may be the most important in new venture creation?

A business plan should be no more than 150 pages.

The most common viewpoint in business plans is viewpoint of the

Surprisingly, entrepreneurs frequently forget to include _____ in the business plan.

Which of the following helps an entrepreneur avoid the pitfall of not having realistic goals?

Which of the following questions should an entrepreneur ask when a business plan is turned down?

Competitive analysis, advertising plan, and pricing policy are all part of the _____ segment.

The business plan is the entrepreneur's road map for a successful enterprise.

The business plan provides the details of the _____ potential of a business.

Which of the following is not one of the steps in reading a business plan?

The easiest way to avoid the pitfall of no commitment or dedication is to designate that the venture is a hobby or a whim.

Which of the following statements is not part of the "five-minute reading" by venture capitalists?

An indicator of the planning pitfall of "failure to anticipate roadblocks" is

How should an entrepreneur prepare to present his or her business plan?

The manufacturing segment of the business plan should identify key personnel, their responsibilities and positions, and career experience that qualifies them for those particular roles.

Lack of any time frame to accomplish things is an indicator of the pitfall known as no realistic goals.

The recommended length of a business plan is

An entrepreneur should include a three- to five-year financial projection so that the financial source can adequately evaluate the venture.

The text discusses all of the following important guidelines to follow when putting the plan together except

Which of the following is not a pitfall that should be addressed in planning a venture?

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: the Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Marketing Research for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters

Exam 12: Developing an Effective Business Plan

Which of the following statements may be the most important in new venture creation?

A business plan should be no more than 150 pages.

The most common viewpoint in business plans is viewpoint of the

Surprisingly, entrepreneurs frequently forget to include _____ in the business plan.

Which of the following helps an entrepreneur avoid the pitfall of not having realistic goals?

Which of the following questions should an entrepreneur ask when a business plan is turned down?

Competitive analysis, advertising plan, and pricing policy are all part of the _____ segment.

The business plan is the entrepreneur's road map for a successful enterprise.

The business plan provides the details of the _____ potential of a business.

Which of the following is not one of the steps in reading a business plan?

The easiest way to avoid the pitfall of no commitment or dedication is to designate that the venture is a hobby or a whim.

Which of the following statements is not part of the "five-minute reading" by venture capitalists?

An indicator of the planning pitfall of "failure to anticipate roadblocks" is

How should an entrepreneur prepare to present his or her business plan?

The manufacturing segment of the business plan should identify key personnel, their responsibilities and positions, and career experience that qualifies them for those particular roles.

Lack of any time frame to accomplish things is an indicator of the pitfall known as no realistic goals.

The recommended length of a business plan is

An entrepreneur should include a three- to five-year financial projection so that the financial source can adequately evaluate the venture.

The text discusses all of the following important guidelines to follow when putting the plan together except

Which of the following is not a pitfall that should be addressed in planning a venture?

Entrepreneurship Evolutionary Development--Revolutionary Impact

The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics

The Entrepreneurial Mind-Set in Organizations: Corporate Entrepreneurship

Social Entrepreneurship and the Global Environment for Entrepreneurship

Innovation: the Creative Pursuit of Ideas

Assessment of Entrepreneurial Opportunities

Pathways to Entrepreneurial Ventures

Sources of Capital for Entrepreneurial Ventures

Legal Challenges for Entrepreneurial Ventures

Marketing Research for Entrepreneurial Ventures

Financial Preparation for Entrepreneurial Ventures

Strategic Entrepreneurial Growth

Valuation of Entrepreneurial Ventures

Harvesting Entrepreneurial Ventures

Filters