FBLA Entrepreneurship Test Questions And
Answers 100% Correct
Most startup companies can expect to need _____ capital than they anticipate. More
The primary cause of small business failures is: Management Mistakes
Entrepreneurs tend to be overly ______ and misjudge the ______ requirements to start a new
business. Optimistic; Financial
The ability to develop new ideas is known as: Creativity
Which one of the following is usually included on the cover page of the business plan?
Disclaimer
Which one of the following management skills should a prospective team member possess?
Prepared to Recruit High-Quality People
Which one of the following is not true regarding a business plan? A business plan is a
document that describes the success factor of an ongoing business.
, FBLA Entrepreneurship Test Questions And
Answers 100% Correct
Which one of the following is not a part of the executive summary section of the Business Plan?
Competition Information
Which one of the following is an overview of the business plan intended to capture reader
interest? Executive Summary
Which one of the following should be included in the environmental and industry analysis
section of the business plan? Trends at the national and international levels that could
influence the business.
Which one of the following should be identified form among the main competitors to the
planned business? Quality Leader
Which one of the following is not a part of the marketing research and evaluation section of the
business plan? Potential for Long Term Growth
, FBLA Entrepreneurship Test Questions And
Answers 100% Correct
All business plan information includes assumptions based on information available. How should
this be addressed in the business plan? The differing results if and when results differ
from projections should be included.
Every business plan contains forecasts that include risk. What is one positive way to address
risk? The business plan should present alternatives.
Developing a business plan is a good way to: Prevent costly oversights in the creation of a
business.
Which one of the following is true concerning the product/service description section of the
business plan? Plans to expand the product line or service.
Which one of the following would be the most relevant important consideration in the selection
of the right geographic location for a service business. Proximity to Customers
Which one of the following benefits to the community in which the business is or will be located
should be addressed in the business plan? Job Creation
Answers 100% Correct
Most startup companies can expect to need _____ capital than they anticipate. More
The primary cause of small business failures is: Management Mistakes
Entrepreneurs tend to be overly ______ and misjudge the ______ requirements to start a new
business. Optimistic; Financial
The ability to develop new ideas is known as: Creativity
Which one of the following is usually included on the cover page of the business plan?
Disclaimer
Which one of the following management skills should a prospective team member possess?
Prepared to Recruit High-Quality People
Which one of the following is not true regarding a business plan? A business plan is a
document that describes the success factor of an ongoing business.
, FBLA Entrepreneurship Test Questions And
Answers 100% Correct
Which one of the following is not a part of the executive summary section of the Business Plan?
Competition Information
Which one of the following is an overview of the business plan intended to capture reader
interest? Executive Summary
Which one of the following should be included in the environmental and industry analysis
section of the business plan? Trends at the national and international levels that could
influence the business.
Which one of the following should be identified form among the main competitors to the
planned business? Quality Leader
Which one of the following is not a part of the marketing research and evaluation section of the
business plan? Potential for Long Term Growth
, FBLA Entrepreneurship Test Questions And
Answers 100% Correct
All business plan information includes assumptions based on information available. How should
this be addressed in the business plan? The differing results if and when results differ
from projections should be included.
Every business plan contains forecasts that include risk. What is one positive way to address
risk? The business plan should present alternatives.
Developing a business plan is a good way to: Prevent costly oversights in the creation of a
business.
Which one of the following is true concerning the product/service description section of the
business plan? Plans to expand the product line or service.
Which one of the following would be the most relevant important consideration in the selection
of the right geographic location for a service business. Proximity to Customers
Which one of the following benefits to the community in which the business is or will be located
should be addressed in the business plan? Job Creation
