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Entrepreneurship exam

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ENTREPRENEURSHIP DEVELOPING A BUSINESS PLAN (EXAM)
1. Business Plan is
a) A written document describing the nature of the business, the sales and marketing
strategy, and the financial background , and containing a projected profit and loss
statement.
b) A formulation of a business
c) A feasibility of a business
d) All of the above
Answer: D. All of the above
2. Which is not a component of a business plan.
a) List of funding sources
b) Executive Summary
c) Service or Product
d) Organization and Management
Answer: A. List of funding sources
3. Which among the components of the business plan is referred when this question is
considered: “ What industrial establishment are located in the place?”.?
a) The Environment
b) Product Behavior
c) Location
d) Production
Answer: A. The Environment
4. Forecasting is the process of anticipating the future market behavior.
a) True
b) False
Answer: A. True
5. When consideration the Location of the business, the following must be looked upon
except
a) The distance of the market to the source of raw materials.
b) The availability of transportation facilities, communication, water, electricity and
labor
c) The cost of land and/or availability and cost of store space.
d) The needs of the people in the community
Answer: D. The needs off the people in the community
6. This involves and advanced program relating to manpower, money, machinery, materials
and methods to be able to produce the desired output based on anticipated profit.
a) Production Plan

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b) Organization Plan
c) Financial Plan
Answer: A. Production Plan
7. Why organization plan is needed by an entrepreneur?
a) To coordinate the activities of the workforce towards the company’s goals
b) To list down all needed worker in the business
c) All of the above
Answer: C. All off the above
8. The financial plan enables the entrepreneur to determine the fiscal needs of the business
and the sources of needed funds.
a) True
b) False
Answer: A. True
9. The objectives of the business should be
a) SMART
b) Stated clearly for those involved in pursuing the plan to understand, support, and
follow closely.
c) Provided with policies and measure of satisfactory accomplishment in terms of
quality, quantity, time and cost.
d) All of the above
Answer: D. All of the above
10. A business plan unifies the various components and activities of the business
organization and gears these towards the achievement of a common goal.
a) True
b) False
Answer: A. True
For number 11- 14 choose the answer below:
a) Market Study
b) Product Analysis
c) Market Description
d) Projected Sales
11. Expected volume of annual sales for the next 5 years
Answer: D. Projected Sales
12. A picture of the buyers/ users of the product/ service and area of diistribution
Answer: C. Market Description
13. Determining consumer preferences
Answer: B. Product Analysis

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ENTREPRENEURSHIP – DEVELOPING A BUSINESS PLAN (EXAM) 1. Business Plan is a) A written document describing the nature of the business, the sales and marketing strategy, and the financial background , and containing a projected profit and loss statement. b) A formulation of a business c) A feasibility of a business d) All of the above Answer: D. All of the above 2. Which is not a component of a business plan. a) List of funding sources b) Executive Summary c) Service or Product d) Organization and Management Answer: A. List of funding sources 3. Which among the components of the business plan is referred when this question is considered: “ What industrial establishment are located in the place?”.? a) The Environment b) Product Behavior c) Location d) Production Answer: A. The Environment 4. Forecasting is the process of anticipating the future market behavior. a) True b) False Answer: A. True 5. When consideration the Location of the business, the following must be looked upon except a) The distance of the market to the source of raw materials. b) The availability of transportation facilities, communication, water, electricity and labor c) The cost of land and/or availability and cost of store space. d) The needs of the people in the community Answer: D. The needs off the people in the community 6. This involves and advanced program relating to manpower, money, machinery, materials and methods to be able to produce the desired output based on anticipated profit. a) Produc ...
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