1. A _____________ statement should be short (one/two sentences)
easy to understand and easy to remember.
c. Cash Flow
d. Pro Forma
2. A Mission statement focuses on the "what" of a
a. TRUE b. FALSE
3. A Mission Statement should include:
a. market focus, location,unique qualities of business and what business will do
b. how to grow your business
c. financing methods
d. both "a" and "b"
e. all of the above
4. In the initial business plan it is best to keep your objectives
a bit vague, so you won't be discouraged in the first year.
5. Measurable objectives could be about market share, return
on investment, stages in development, financial performance.
6. Objectives should
a. be measurable and refer to a specific outcome
b. be realistic with a specific deadline
c. both of the above
7. A(n) ____________ business plan is usually developed when
the business is planning to grow rapidly; whereas, a(n) ______________ business
plan is developed when trying to raise substantial money or to attract a partner.
8. A(n) ______________ captures the reader's attention, should
explain the business status, provide objectives, describe products or services.
a. executive summary
b. transmittal letter
c. table of contents
9. Milestones, schedule and risks are part of
a. fact sheet
b. financial plan
c. Implementation schedule
d. both "b" and "c"
10. Locations, facilities, equipment, labour and manufacturing
plans are part of
a. Financial Plan
b. Marketing Plan
c. Implementation Plan
d. Production/Operations Plan
11. The _____________ plan tells what has to be done, when,
how and who as far as sales, advertising, policy and distribution.
12. Things that are placed in the appendix may include "need
to know information" that is too long to put in the body of the report.
13. If the monthly cost of operations is $2000 and the profit
per unit is $1.00 and the cost per unit is $4.00, then the break even monthly
sales amount would be:
14. If a newspaper has a circulation of 100,000 and an ad in
the paper costs $2000, then the CPM would be:
c. $ 200
15. Intellectual property includes
a. trademarks, patents, copyright
b. concepts, ideas, theories, business objectives
16.A(n) ____________ is a government grant that gives owner
the right to take legal action against others who without consent make, use,
or sell the invention covered by the during the time from date of application
plus 20 years and is not renewable; afterwards product is in pubic domain
d. Industrial design
17. Once a trademark, copyright or patent is granted, the government
will ensure that legal action is taken against those who violate any intellectual
18. In business profits equal cash flow.
20. To obtain copyright there is no legal requirement in Canada
that work be registered; it is acquired on creation of original work.
21. Once an owner of a copyright, trademark or patent is dead,
the products, ideas or symbols are in the public domain.
22. A(n)_______________ normally takes one year before it is
granted and is effective for 15 years and may be renewed for 15 year terms>
d. auxiliary plan
23. Love money is money from a venture capitalist who sees value
in your financial plan.
24. An operating loan and a term loan are both classified as
"demand" loans. A bank can call in the loan at any time, if they
feel your business could be in trouble.
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