1. Products that are returned make up what is called the __________.
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Correct Answer:
Reverse supply chain
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2. Production creates _______ utility.
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Correct Answer:
Form
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3. Product design and process selection are examples of _______ decisions.
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Correct Answer:
System design
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4. Process choice is _________ driven.
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Correct Answer:
Demand
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5. What financial information is in a balance sheet?
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Correct Answer:
Assets and liabilities of the business
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6. 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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7. 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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8. A(n) ______ is a two-sentence summary that explains your business quickly.
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Correct Answer:
Abstract
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9. 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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10. 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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11. Who is the executive summary directed towards?
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Correct Answer:
Potential investors
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12. A business model identifies ______.
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Correct Answer:
Sources of revenues
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13. 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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14. 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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15. 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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16. What statement best describes the lean start-up approach to starting a business?
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Correct Answer:
Produce a product as quickly as possible and get customer feedback in order to redesign the product.
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17. When an investor reviews a management team, what are they typically looking for?
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Correct Answer:
A team with complementary skills and experience.
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18. 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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19. In the business model canvas, a value proposition identifies ______.
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Correct Answer:
A customer problem and solution for the business
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20. 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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21. Profit-and-Loss Statement is a financial document that shows ?
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Correct Answer:
All of the above
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22. _____ 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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23. 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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24. 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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25. _____ 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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26. Cash flow statement is a financial document that shows :
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Correct Answer:
All of them
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27. 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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28. 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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29. Balance sheet is a financial document that shows the _____ for a business.
Answer
Correct Answer:
All of them
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