Business Plan Trivia 2

Question 1

Which section of a business plan is typically written last, even though it appears first?

Accepted Answer

Executive summary

Answer

Financial projections

Answer

Market analysis

Answer

Company description

Question 2

What does the acronym SWOT stand for in business planning?

Accepted Answer

Strengths, Weaknesses, Opportunities, Threats

Answer

Suppliers, Wholesalers, Outlets, Trends

Answer

Strategy, Wealth, Objectives, Timing

Answer

Sales, Workforce, Operations, Taxes

Question 3

In financial projections, what is the break-even point?

Accepted Answer

When total revenue equals total costs

Answer

When cash reserves reach zero

Answer

When debt is fully repaid

Answer

When profit doubles year over year

Question 4

Which business plan section describes your target customers and competitors?

Accepted Answer

Market analysis

Answer

Appendix

Answer

Management team

Answer

Funding request

Question 5

What is a 'lean' business plan best known for?

Accepted Answer

Being a short, one-page summary of strategy

Answer

Including extensive legal documentation

Answer

Focusing only on manufacturing costs

Answer

Requiring third-party audits

Question 6

Which financial statement in a business plan shows money flowing in and out over time?

Accepted Answer

Cash flow statement

Answer

Balance sheet

Answer

Depreciation schedule

Answer

Cap table

Question 7

Who is the primary audience for the funding request section of a business plan?

Accepted Answer

Investors and lenders

Answer

Retail customers

Answer

New employees

Answer

Government regulators