Part 1 Write TRUE I the statement is correct. Otherwise, write FALSE
36. Income levels of a community affects the buying capability of its citizens.
37. Contingency plans must be included in a business plan for anticipated concerns that may arise.
38. Poorly researched business poses lower risk.
39. Once entrepreneurial skills and competencies are identified, one can start a business venture right away.
40. Business profit includes the quantity needed for business operations as well as sources of such amount
41. Executive summary is found at the beginning of the plan but is done last.
42. A business plan is also written for the sake of the investors from whom the entrepreneur may ask for financial assistance.
43. Market segmentation is a process of analyzing the internal and external factors that affect a business enterprise
44. A financial plan must be written solely by someone who is knowledgeable about handling finanjces such as certified financial planner.
45. Weaknesses and threats are both harmful and external factors that may affect the business.
46. If you subtract gross profit from expenses, you can get the net income.
47. The executive summary is the last part to be accomplished.
48. In product plan, you can find the product features.
49. In management and organization, you can check the employees’ salaries.
50. The cash flow reports the company’s assets, liabilities, and owner’s equity.
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Answer:
36.True
37.True
38.False
39.True
40.True
41.False
42.True
43.True
44.True
45.False
46.False
47.True
48.True
49.True
50.False
