32 questions. urgent help!

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Question 1 (0.5 points) All of the following are true of the executive summary of the business plan EXCEPT: It should be written once the rest of the business plan has been completed It should help a potential reader decide if it's worth it to them to read the full plan O It should address readers' most common questions, like what the business model is, how the venture is unique, and why the entrepreneur is qualified to run the venture It should provide a highly-detailed summary of each section of the business plan Question 2 (0.5 points) Vandelay Industries is a new venture generating its marketing plan. The entrepreneur, Art Vandelay, projects the venture will initially generate revenue of $100,000. Which of the following figures represents a potentially appropriate marketing budget, based on our text and in-class discussions? $40,000 $1,000 $8,000 O $60,000 Question 3 (0.5 points) In which area would a sole proprietorship probably have the greatest chance of being the most advantageous ownership plan for the venture? Options for meeting capital requirements Cost Attractiveness for raising capital Liability Question 4 (0.5 points) Which section of the business plan should include an identification of potential hazards or obstacles the venture might face, as well as the entrepreneur's plans for minimizing and responding to those hazards? Industry assessment Operations plan Risk analysis Organizational plan Question 5 (0.5 points) All of the following are examples of potential steps in the process of monitoring the effectiveness of the marketing plan EXCEPT: Paying less attention to the marketing plan once startup funding has been secured Comparing actual performance on important metrics to the identified performance standards for those metrics Referring to the marketing plan's goals/objectives to determine what things are important to measure and how they can be effectively measured Determining likely causes for any identified performance gaps and making adjustments to the marketing plan for future years Question 6 (0.5 points) An organization estimates that it will receive 75% of payments for sales made in a given month by the end of the month, and 25% of those payments will not be received until the next month. The organization projects $10,000 in sales in its first month. The pro forma income statement would show in sales for that month, and the pro forma cash flow statement would show. in receipts for the same month. $10,000; $7,500 $7,500; $10,000 $2,500; $7,500 Question 7 (0.5 points) One source of external funds available to an entrepreneur is to use sales that have not yet been collected as collateral for a loan. In this type of loan, a bank "buys" the sale from the venture for less than the face value of the sale, and collects the money directly from the customer. This is an example of which external source of funds? Inventory loan Accounts receivable loan Real estate loan O Equipment loan. Question 8 (0.5 points) All of the following are examples of questions that may be addressed by marketing action plan items EXCEPT: is there an industry standard markup rate for similar products to those offered by the venture? When will the venture become profitable, and how quickly will profits grow? What is likely to be the most effective method for informing potential customers about the new product? Are potential customers concentrated in a compact geographical area, or dispersed across a larger area? Question 9 (0.5 points) An organization estimates that it will make payments for 80% of the costs of goods it sells in a given month, and will pay the remaining 20% of those costs in the next month. The organization projects it will sell good that cost $5,000 in Month 1 and goods that cost $10,000 in Month 2. What amount should be reflected for cost of good paid in Month 2? $12,000 $9,000 $8,000 $10,000 Question 10 (0.5 points) All of the following are potential ways a venture can use internal sources of funds (or bootstrap financing) to manage its capital needs EXCEPT: Using a line of credit from a commercial bank Renting assets rather than buying them i Managing relationships with suppliers and customers to delay payments and speed up collection of sales Outsourcing some of the venture's activities Question 11 (0.5 points) Which of the following questions will a potential lender most likely hope to have answered by reading the business plan? Will I be able to sell my investment in the venture for a good profit in a short period of time? Will the new venture be likely to stay in business for a long period of time? Will the entrepreneur be open to my attempts to control the venture's decisions? Does the entrepreneur possess the "four C's" of credit? Question 12 (0.5 points) Which of the following ownership plans has 'members' rather than shareholders or partners, but is automatically treated as a partnership by the IRS, unless chosen otherwise? Limited liability partnership Limited liability company (LLC) O General partnership OC-corporation In class we watched a video that demonstrated the process of using the Lender Match tool to provide information about the venture in hopes of being matched with lenders in the area that may be interested in lending to that type of venture. This process could be used to help an entrepreneur find a lender for what type of loan? Small Business Administration guaranty loan Installment loan Straight commercial loan Line of credit Question 14 (0.5 points) An organization incurs $2000 in overhead costs to produce 1000 travel mugs. The direct cost of goods for each mug is $3.00. If the organization wants to make $5 in profit for each mug sold, what price will they need to charge for each mug? $10 $7 $5 $8 Question 15 (0.5 points) The Dharma Corporation produces white cotton V-neck t-shirts. Three competitor organizations produce very similar t-shirts (i.e., the competitors' shirts offer virtually the same benefits to customers as Dharma Corporation's shirts), and they all charge $5 per shirt. Which of the following statements is true with regard to potential effects of competition on Dharma Corporation's pricing decisions? Dharma Corporation is competing in a differentiated market If Dharma Corporation wants to achieve higher profits than their competitors, they probably need to achi lower costs Dharma Corporation could probably be successful in selling their shirts for $8 per shirt All of the above are true Question 16 (0.5 points) All of the following are examples of the types of questions that should guide the search for operations information before beginning the process of writing a business plan EXCEPT: What kind of physical space or facilities will the venture require? Where will we buy our materials and raw materials and what will they cost? Who will buy the product/use the service? Where can we buy the machinery needed to produce our product and how much will it cost? Question 18 (0.5 points) Which of the following represents the main difference between a pro forma income statement and a pro forma cash flow statement? The income statement shows the sales made and the expenses incurred in a given period, the cash flow statement shows the amounts that were actually paid and received in that period The income statement shows the amounts that were actually paid and received in a given period, the cash flow statement shows the sales made and the expenses incurred in that period The income statement shows "big ticket" expenses, the cash flow statement shows fixed and variable operating expenses The income statement shows fixed and variable operating expenses, the cash flow statement shows "big ticket" expenses Question 19 (0.5 points) All of the following are potential reasons that a business plan is likely to fail EXCEPT: Insufficient attention paid to anticipating threats and weaknesses Failure to identify a genuine customer need for the product or service Too much data from secondary sources Question 20 (0.5 points) A type of loan available to entrepreneurs that uses government funds to protect the lending bank against losses in the event that the entrepreneur fails to repay the loan is a/an_ Installment loan Line of credit Small Business Administration guaranty loan Straight commercial loan Question 21 (0.5 points) All of the following would potentially be reflected in a pro forma income statement EXCEPT: Sales Gross profit Ending balance Total operating expenses Question 22 (0.5 points) A type of loan available to entrepreneurs that uses the venture's stock of finished goods as the collateral for the loan and may receive a loan amount of approximately 50% of the value of those finished goods is a/an Inventory loan Equipment loan Installment loan Accounts receivable loan Question 23 (0.5 points) Which of the following represents the primary information presented in a manufacturing budget? "Big-ticket" expenditures such as facilities, equipment, or vehicles Fixed and variable expenses for operating the venture Number of units that need to be produced in a given month or year, based on projected sales and desired ending inventory The amount of cash going into and out of the organization in a given month or year Question 24 (0.5 points) All of the following statements are true of best practices for appointing board of directors members EXCEPT: The board members should be appointed to limited terms The board members should serve on a volunteer-basis The board should contain an odd number of members The board members should be willing to dedicate significant time and energy to the venture Question 25 (0.5 points) When a venture raises funds in exchange for a share of the ownership in the venture, does not need to provide collateral for the funds, and shares a portion of the venture's profits and a disposition of its assets with the investor, this is O Equity financing An account receivable Debt financing An internal source of funds One source of external funds available to an entrepreneur is to pay a commercial bank a commitment fee in order ensure the bank will make a loan when it is needed. The entrepreneur will then be required to pay interest on the borrowed funds and may need to pay the loan down to a pre-determined amount within a specified time period. This is an example of which external source of funds? Installment loan Straight commercial loan Line of credit Character loan Question 27 (0.5 points) All of the following are potential reasons an S-Corporation may not be the best ownership plan for a given venture EXCEPT: OS-Corporation status is not available to ventures with more than 100 shareholders Not all ventures will meet the eligibility requirements for 5-Corporation status Os-Corporation status is not available to ventures with fewer than 1000 shareholders O Traditional C-Corporation status may actually result in lower tax liability, depending on the amount of the venture's not income. Question 28 (0.5 points) Which of the following statements is true with regard to the transferability of ownership in various ownership plans? Limited partners in an LLP are generally prohibited from selling their interest without the approval of a majority of the remining partners Owners in a corporation need a majority vote of remaining owners to sell their interest General partners in a general partnership can sell their interest at any time, without restriction Sole proprietors require the approval of majority shareholders to sell their interest Question 29 (0.5 points) All of the following might be included in the business plan's appendices EXCEPT: Three years' worth of projected cash flow data Price lists from potential suppliers or subcontractors Testimonials supporting the entrepreneur's qualifications Letters from suppliers and/or distributors to document supply or distribution agreements Short answer In each of the following two answer fields, provide a response to one of the following three questions. So, you will choose two out of three questions to respond to. A. Identify and discuss two considerations that an entrepreneur should discuss in the situation analysis of the marketing plan (1 point each). Then, identify and discuss two factors that might be addressed in the marketing plan's action items (1 point each). Finally, discuss how the marketing plan should be monitored and updated to be used in the future (1 point). B. An entrepreneur is deciding whether to launch her venture as a sole proprietorship or as a corporation. Discuss two potential reasons (based on our text and class discussions) the entrepreneur might choose the sole proprietorship (1 point each), and two potential reasons she might choose the corporation (1 point each). Finally, explain why the entrepreneur might ultimately decide to pick one ownership form over the other based on how priorities for her venture (1 point). C. We discussed a variety of options an entrepreneur could pursue to raise funds for the venture. Nam type of debt financing and explain how it works (2 points), and then name one specific type of equity financing and explain how it works (2 points). Then, explain one reason an entrepreneur in a particular situation may decide the debt financing (or equity financing) option is the best option for their situation (1 point). Question 31 (5 points) Identify which short-answer question you are choosing for your first response, and write your response to that question here. Question 32 (5 points) Identify which short-answer question you are choosing for your second response, and write your response to that question here. A