Products that are returned make up what is called the __________.
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Correct Answer:
Reverse supply chain
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Production creates _______ utility.
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Form
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Product design and process selection are examples of _______ decisions.
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System design
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Process choice is _________ driven.
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Demand
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What financial information is in a balance sheet?
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Correct Answer:
Assets and liabilities of the business
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What is the purpose of a business plan?
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Correct Answer:
To test the feasibility of the business
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An investor can determine ______ from the profit-and-loss statement.
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Correct Answer:
The gross margin of the products
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A(n) ______ is a two-sentence summary that explains your business quickly.
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Correct Answer:
Abstract
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What makes a business pitch compelling?
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Correct Answer:
Selling that you are the right person with the right idea.
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What critical information does the break-even analysis provide?
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Correct Answer:
The price of your product you should charge to cover the costs.
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Who is the executive summary directed towards?
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Correct Answer:
Potential investors
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A business model identifies ______.
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Sources of revenues
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What impression does an investor get from a business plan that is overly optimistic?
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Correct Answer:
That the entrepreneur did not do his/her homework
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An investor can determine ______ from the cash flow statement.
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Correct Answer:
The timing for when the business collects payment
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Which statement best describes why entrepreneurs conduct a feasibility analysis?
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Correct Answer:
To decide whether the new business is viable
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What statement best describes the lean start-up approach to starting a business?
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Produce a product as quickly as possible and get customer feedback in order to redesign the product.
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When an investor reviews a management team, what are they typically looking for?
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A team with complementary skills and experience.
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What is the purpose of the business model canvas?
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Correct Answer:
To test hypotheses about a new business idea
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In the business model canvas, a value proposition identifies ______.
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A customer problem and solution for the business
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Sources and uses of funds is a _____ used by start-up businesses that shows where capital comes from and what it will be used for.
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Correct Answer:
Financial document
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Profit-and-Loss Statement is a financial document that shows ?
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Correct Answer:
All of the above
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_____ is a financial document that shows sales revenues, expenses, and net profit or loss.
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Correct Answer:
Profit-and-Loss Statement
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Feasibility Study is a tool for assessing parts of the business plan and determining if the idea will work.
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Correct Answer:
All of them
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Executive summary is a condensed abstract of a business plan used to ?
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Correct Answer:
All of them
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_____ is a financial document that shows the amount of money a business has on hand at the beginning of a time period.
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Correct Answer:
Cash flow Statement
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Cash flow statement is a financial document that shows :
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Correct Answer:
All of them
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Business plan is a document describing a business that is used to test the feasibility of a business idea _____ as a road map for future operations.
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Correct Answer:
To raise capital, and to serve
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Business plan is a document describing a business that is used to test the _____ of a business idea, to raise capital, and to serve as a road map for future operations.
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Correct Answer:
Feasibility
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Balance sheet is a financial document that shows the _____ for a business.
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Correct Answer:
All of them
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