Entre Gmetrix Lesson 1

Which options are the Three C's that must be addresses in all types of business plans? (Choose three)

• Competency

• Concept

• Customers

• Capital

• Competition

A well-conceived business plan benefits which groups the most? (Choose 2 answers)

• Investors

• Suppliers

• Distributers

• Business Owner

• Potential Customers

In writing a business plan, which part makes the most sense to put in the description section?

• Target markets

• Ethics

• Competitors

• Potential employees

A yoga instructor with no partners or employees wishes to protect himself from lawsuits. Which of the following legal structures would best fit his needs?

• Limited Liability Company

• Nonprofit Corporation

• C Corporation

• Sole Proprietorship

What is the primary drawback of a sole proprietorship?

• Double-taxation

• Requires an attorney to set up

• Must answer to shareholders

• Unlimited liability

Mr. Boudreaux owns a food truck and wants to purchase 2 more food trucks to expand and reach more clients. Of the business plan types, which three are best suited for investors?

• Operational business plan

• Oral presentation

• Investor's business plan

• Written presentation

• Executive summary

What is the primary advantage of the General Partnership versus a Sole Proprietorship?

• Stockholders make decisions

• Taxed at a lower rate

• More than one person is responsible for financial backing

• Limited liability

Identify the major downside to a sole proprietorship.

• Unlimited personal liability

• Is beholden to shareholders

• Requires an attorney to establish

• Double-taxation

A masseuse wants to create a legal structure that will help protect her from lawsuits when she starts up her business. She will have no partners or employees. Which option is the best for her?

• Nonprofit Corporation

• C Corporation

• Limited Liability Company

• Sole Proprietorship

Which of the following should be addressed in the description section of a business plan?

• Code of ethics

• Target markets

• Names of possible employees and their skills

• List of competitors