Business Planning MCQs (Chapterwise Multiple Choice Questions)

Financial Statements Include

Income Statement

Balance Sheet

All of the above

Cash Flow Statement

Answer & Explanation

Correct Answer: All of the above

Note: This Question is unanswered, help us to find answer for this one

What is a competitive advantage?

A feature which distinguishes your company from the others and will help it to achieve success

A listing of competitors

A marketing strategy

An advantage your competitors have over you

Answer & Explanation

Correct Answer: A feature which distinguishes your company from the others and will help it to achieve success

Note: This Question is unanswered, help us to find answer for this one

Why is it okay to let some competitors' moves go unanswered?

Companies should focus on their own initiatives rather that constantly respond to other companies actions

Let the competitors succeed or fail first before responding to their moves

It is better to be a follower and always follow the competition

Competitors always make stupid decisions

Answer & Explanation

Correct Answer: Companies should focus on their own initiatives rather that constantly respond to other companies actions

Note: This Question is unanswered, help us to find answer for this one

Which of the following is one of the groups a business plan is meant to inform?

The SEC

Government entities

Potential investors

The IRS

Answer & Explanation

Correct Answer: Potential investors

Note: This Question is unanswered, help us to find answer for this one

Which of the following is a traditional method of marketing?

Pay Per Click

Television advertisements

Search Engine Optimization

None of the above

Answer & Explanation

Correct Answer: Television advertisements

Note: This Question is unanswered, help us to find answer for this one

Which of the following could be a core competency of a company?

No marketing plan in place

Ability to change direction quickly

High labor burden rates

Inexperienced management team

Answer & Explanation

Correct Answer: Ability to change direction quickly

Note: This Question is unanswered, help us to find answer for this one

True or False: The Market Analysis of your business plan should illustrate your industry and market knowledge as well as any of your research findings and conclusions.

False

True

Answer & Explanation

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

What would a Market Follower strategy be distinguished by?

A company who attacks the market leader

A company who turns a few heads but does not challenge the market leader

A company on the verge of going out of business

A company who wants to enter new markets

Answer & Explanation

Correct Answer: A company who turns a few heads but does not challenge the market leader

Note: This Question is unanswered, help us to find answer for this one

The way you want to spend your time, money, and resources in the future are your _____.

Interests

Lifestyle goals

Aptitudes

Values

Answer & Explanation

Correct Answer: Lifestyle goals

Note: This Question is unanswered, help us to find answer for this one

What should be the minimum length of a business plan?

2 pages at the most

At least 50 pages

At least 100 pages

There are no predefined standards

Answer & Explanation

Correct Answer: There are no predefined standards

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Business Planning Quick Quiz

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