Credit are character-capacity-capital-conditions-collateral

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Reference no: EM13331922

1. A business plan is a written document that sets out the basic idea underlying a business and its related startup considerations (Points: 2)

True

False

2. A business plan should describe where you are, where you want to go, and how you plan to get there. (Points: 2)

True

False

3. For David Gumpert the business plan is essentially a selling document. (Points: 2)

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False

4. The business plan is used primarily to aid in the development of relationships with outsiders and not so much with insiders. (Points: 2)

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False

5. A business plan is prepared for external use only–for example, to interest potential investors. (Points: 2)

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False

6. Even if the business plan reveals sensitive information (e.g., details of an advanced technology or the specifics of a marketing plan), prospective investors can be trusted with that knowledge. (Points: 2)

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False

7. Pro forma financial statements reflect the past financial performance of a firm. (Points: 2)

True

False

8. An extensive business plan that is not followed is more valuable than no business plan at all. (Points: 2)

True

False

9. The executive summary is often the most important section of the business plan. (Points: 2)

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False

10. Regardless of the type of business, the consumer-oriented marketing philosophy is the best choice among the competing alternatives. (Points: 2)

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False

11. Customer satisfaction is not the means to achieving a certain goal—it is the goal. (Points: 2)

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False

12. There are no limits on the owner's personal liability in a sole proprietorship. (Points: 2)

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False

13. A corporation's life span is equal to that of its owners. (Points: 2)

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False

14. A sole proprietorship must be registered with the state to obtain its legal charter. (Points: 2)

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False

15. All other factors being equal, retail and services businesses will find little advantage in selecting a location near the center of the market. (Points: 2)

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False

16. The critical factor in locating factories is customer accessibility and convenience. (Points: 2)

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False

17. Manufacturing equipment can be categorized as general-purpose and special-purpose. (Points: 2)

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False

18. Jan Woodring is considering investing in a business. To see the firm's financial position over a period of time, she should look at its balance sheet. (Points: 2)

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False

19. The five Cs of credit are character, capacity, capital, conditions, and collateral. (Points: 2)

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False

20. State and local governments are becoming less involved in financing new businesses. (Points: 2)

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False

Reference no: EM13331922

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