Question 1

10pts

A mission statement is a comprehensive document that helps the entrepreneur analyze the market and plan the business strategy.

Group of answer choices

True

False

Flag this Question

Question 2

10pts

A business plan is often prepared by an existing company to ensure that growth is properly managed.

Group of answer choices

True

False

Flag this Question

Question 3

10pts

Business plans are often necessary to obtain financing.

Group of answer choices

True

False

Flag this Question

Question 4

10pts

A two-page overview of the important facts in the business plan is called the "Key Points" section.

Group of answer choices

True

False

Flag this Question

Question 5

10pts

A mission statement describes the purpose of the business and management philosophy.

Group of answer choices

True

False

Flag this Question

Question 6

10pts

The mission statement is a concise, well-defined explanation of the purpose of the business and the management's philosophy.

Group of answer choices

True

False

Flag this Question

Question 7

10pts

National trends do not have an impact on a company that operates only in a local area.

Group of answer choices

True

False

Flag this Question

Question 8

10pts

The single most important demographic trend in the United States is that there are more women than men.

Group of answer choices

True

False

Flag this Question

Question 9

10pts

Local trends do not have an impact on a company that has retail outlets throughout the United States.

Group of answer choices

True

False

Flag this Question

Question 10

10pts

A business plan is important when starting a business.

Group of answer choices

True

False