Business > QUESTIONS & ANSWERS > The basics of business plans : Chapter 6 Questions and Answers. (All)
The basics of business plans : Chapter 6 Questions and Answers.
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A business plan is a written document that sets out the basic idea underlying a business and its related startup considerations. a. True b. False Correct Answer a. True One of the primary func... tions of a business plan is to serve as a selling document to convince key individuals that the venture has real potential. a. True b. False Correct Answer a. True Writing an effective plan is more important for internal purposes than for persons outside of the firm. a. True b. False Correct Answer b. False A business plan is used to provide a statement of goals and strategies for use by company outsiders, and aid in the development of relationships with insiders. a. True b. False Correct Answer b. False A business plan should always be written before deciding to go forward with a startup business idea. a. True b. False Correct Answer b. False An extensive business plan that is not followed is more valuable than no business plan at all. a. True b. False Correct Answer b. False Time and money are factors that affect the extent of business plan preparation. [Show More]
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