Choose the best answer.

Question

Which of these is a short document that summarizes the key points of a business plan?

financial plan

mission statement

marketing plan

executive summary
2.
Choose the best answer.

Which of these is a business document that outlines the ways in which a product or service will reach a target market?

marketing plan

financial plan

executive summary

organizational plan
3.
Match the definitions with the terms.

an organizational structure in which all individuals have a direct superior except for one or a few at the top

items in which an individual has a high degree of skill or knowledge

investment from a large number of individuals in the early stages of a startup in exchange for shares of the company

individuals who thrive in social settings

individuals who thrive in settings in which they have some time to be alone

the practice of utilizing the internet to obtain business or project financing from a large number of people

4.
Choose the best answer.

Which of these is a business document that outlines a company’s monetary projections, including potential sales, profits, and costs?

marketing plan

financial plan

executive summary

mission statement
5.
Match the descriptions with the types of business plan goals. Answers may be used more than once.

monthly revenue goals

the goal of being the market leader

multiyear revenue goals

website traffic goals

customer satisfaction goals

acquisition goals

6.
Choose the best answer.

Which part of the business plan includes income statements, balance sheets, and investment plans?

organizational plan

marketing plan

financial plan

executive summary
7.
Choose the best answer.

In business, a(n) _____ is any piece of information, product, or resource that can help a business increase its chances of success.

equity resource

support resource

finance resource

helpful resource
8.
Choose the best answer.

Utilizing Intuit Quickbooks Online as a support resource to track financial data is an example of _____.

information support

a crowd support system

fundraising support

a software support system
9.
Choose the best answer.

Equity crowdfunding is an example of _____.

a software support system

information support

fundraising support

a crowd support system
10.
Match the definitions with the terms.

set apart from one another

a graphic showing the structure of a company represented by key individuals and their job positions

the specific moment in time when the sales of a venture cover all costs and begin to earn a profit

a specific group of individuals to whom a company desires to sell its products or services

a predesigned website layout containing dragand- drop components

11.
Choose the best answer.

A(n) _____ must be concise, distinct from those of competitors, and clear in its explanation of the company’s reason for existing.

executive summary

mission statement

goal

marketing plan
12.
Choose the best answer.

Using Kickstarter as a support resource to fund a new business startup is an example of _____.

fundraising support

a software support system

a crowd support system

information support
13.
Choose the best answer.

The requirements for being a successful entrepreneur are primarily rooted in attributes _____.

in everyone’s control but one’s own

outside one’s control

inside one’s control

in another individual’s control
14.
Choose the best answer.

Which part of a business plan typically includes an organizational chart?

executive summary

financial plan

goals

organizational plan
15.
Choose the best answer.

Which of these is a sentence or short paragraph describing the overarching reason a company exists?

marketing plan

financial plan

mission statement

executive summary
16.
Choose the best answer.

Subscribing to various business publications to stay up to date on industry trends is an example of _____.

a crowd support system

a software support system

fundraising support

information support
17.
Choose the best answer.

_____ is a term for wealth in the form of money.

Finance

Assets

Capital

none of these
18.
Choose the best answer.

Reading Forbes as a support resource to study market trends is an example of _____.

a crowd support system

fundraising support

information support

a software support system
19.
Choose the best answer.

Which of these is a document that outlines a company’s organizational structure, such as the owners, management team, and board of directors?

financial plan

organizational plan

executive summary

marketing plan

Answer 1

Here are the best answers for each question:

1. executive summary
2. marketing plan
3. • an organizational structure in which all individuals have a direct superior except for one or a few at the top - hierarchical structure
   • items in which an individual has a high degree of skill or knowledge - expertise
   • investment from a large number of individuals in the early stages of a startup in exchange for shares of the company - equity crowdfunding
   • individuals who thrive in social settings - extroverts
   • individuals who thrive in settings in which they have some time to be alone - introverts
   • the practice of utilizing the internet to obtain business or project financing from a large number of people - crowdfunding
4. financial plan
5. • monthly revenue goals - goal setting
   • the goal of being the market leader - strategic goal
   • multiyear revenue goals - financial planning
   • website traffic goals - marketing goals
   • customer satisfaction goals - operational goals
   • acquisition goals - growth goals
6. financial plan
7. helpful resource
8. a software support system
9. fundraising support
10. • set apart from one another - differentiation
    • a graphic showing the structure of a company represented by key individuals and their job positions - organizational chart
    • the specific moment in time when the sales of a venture cover all costs and begin to earn a profit - break-even point
    • a specific group of individuals to whom a company desires to sell its products or services - target market
    • a predesigned website layout containing drag-and-drop components - template
11. mission statement
12. fundraising support
13. inside one’s control
14. organizational plan
15. mission statement
16. information support
17. Capital
18. information support
19. organizational plan