UGRD-ENTR6262 Business Plan Preparation

Prelims Exam

Question 1
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Startups and small business need to focus on their special identities, their target markets,
and their products or services tailored to match.

Select one:

a.

Strategic Focus

b.

See the whole business

c.

Set priorities
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Question 2
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Question text
 Business planning done right connects the dots in your business so you get a better picture
of the whole.
Select one:

a.

See the whole business

b.

Strategic Focus

c.

Set priorities
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Question 3
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You can’t do everything. Business planning helps you keep track of the right things, and the
most important things. Allocate your time, effort, and resources strategically.

Select one:

a.

Strategic Focus

b.

See the whole business

c.
Set priorities
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Question 4
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This is determining in detail all environmental, economic and social impacts of a matter at
hand.

Select one:

a.

Socioeconomic status 
b.

Financial Projections

c.

Socio Economic Aspect

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Question 5
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_______ tell  us the activities to be performed in the
organization.

Select one:

a.

People
b.

Organizers

c.

Jobs
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Question 6
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The last and foremost element in personnel management is __________. In a organizational
structure, where the main aim is to achieve the goals, the presence of manpower becomes
vital.
Select one:

a.
Jobs

b.

People
c.

Organizers 
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Question 7
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The objective of consultancy is providing 
Select one:

a.

wisdom

b.

insights
c.

sound advice.
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Question 8
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___________ involves directing all the available resources towards the common organizational
goals.
Select one:

a.

Organizing
b.

Directing
c.

Staffing
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Question 9
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Income refers to 
Select one:

a.

Only Profits

b.

All of the above

 c.

wages, salaries, profits, rents and any flow of earnings received.

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Question 10
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The conversion of text, pictures, or sound into a digital form that can be processed by a
computer.
Select one:

a.

Article
b.

Digitisation

c.

News
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Question 11
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Question text
Image capture requires equipment, such as 
Select one:

a.

a scanner or a digital camera

b.

cellphone

c.

computer
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Question 12
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______________ is the one which not only caters to the needs of present prospective buyers
but also maintains a stable demand in the future.
Select one:

a.

 Feasible product  
b.

Market feasibility

c.

Technical feasibility
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Question 13
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When selecting materials for digitisation, the library should consider whether it has the staff
and skill sets to support the 
Select one:

a.

digitisation and metadata entry

b.

digitisation, metadata entry, user interface design, programming and search engine 
c.

metadata entry only

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Question 14
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___________ determines whether a product or service can sustain in a specific market or not
as well as whether it is capable of generating financial surplus for the firm or not.
Select one:

a.
Feasible Product

b.

Market Feasibility 
c.

Technical Feasibility
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Question 15
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__________ is a forecast of future revenues and expenses. 
Select one:

a.

Financial Projection

b.

Market feasibility
c.

Technical Feasibility
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Question 16
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Business plan is a very important strategic tool for entrepreneur.

Select one:

True 

False

Question 17
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After your business plan is developed, referring to it periodically can’t help you maintain a
long-range view as you make daily decisions
Select one:

True

False 

Question 18
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Question text
We’re human. We work worse when we have visible goals we can work towards. It's better
to act without any goal in mind.
Select one:

True

False 

Question 19
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We all want to do everything for our customers, but sometimes we need to push back to
maintain quality and strategic focus.
Select one:

True 

False

Question 20
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Plan vs. actual analysis is a dashboard, and adjusting the plan is steering.

Select one:
 True 

False

Question 21
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Creating a business plan involves less of thought to consider.
Select one:

True

False 

Question 22
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 Market research in the business plan should include projections based on consumer needs
and your ability to fulfill those needs.
Select one:

True 

False

Question 23
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The business plan itself will provide the details and whether bank managers or investors, the
readers of your plan don’t want to have their time wasted.

Select one:

True 

False

Question 24
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As an entrepreneur, without business plan helps you to define and focus on your business
ideas and business strategies.
Select one:

True

False 

Question 25
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Set aside you have a thorough business and financial plan that demonstrates the likelihood
of success and never mind on how much you will need for your business to take off.
Select one:

True

False 

Question 26
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A good business plan not only helps entrepreneurs to focus on the specific steps necessary
for their to make business ideas succeed, but it also helps them to achieve both their short-
term and long-term objectives.
Select one:

True 

False

Question 27
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Question text
Plan is an informal written document containing business goals, the methods on how these
goals can be attained, and the time frame within which these goals need to be achieved.
Select one:

True

False 

Question 28
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Business plan is a very important strategic tool for entrepreneur.

Select one:

True 

False

Question 29
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Objective statement includes the organization's goal as well as what steps the company will
take to achieve the goal.
Select one:

True 

False

Question 30
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While you need to have a business plan to seek investors or get a loan for your company,
the plan is actually for your benefit.
Select one:

True 

False

Question 31
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A business plan serves as distraction of your goal   for how you will operate your business.
Select one:

True

False 

Question 32
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The business plan is your company's road map. It spells out what you want to achieve and
how you propose to achieve it.
Select one:

True 

False

Question 33
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Having a business plan does not help you to identify potential pitfalls in your idea.
Select one:

True

False 

Question 34
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Question text
According to Flippo, “Personnel Management is that part which is primarily concerned with
human resource of organization.”
Select one:

True

False 

Question 35
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According to Brech, “Personnel management is the planning, organizing, compensation,
integration and maintenance of people for the purpose of contributing to organizational,
individual and societal goals.”
Select one:

True

False 

Question 36
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Creating financial projections for your startup is both an art and a science
Select one:

True 
 False

Question 37
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Your financial projections will help you see if your business plans are realistic, whether you’ll
have any shortfalls and what financing you may need.
Select one:

True 

False

Question 38
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Reason/s why you need a business plan
Select one:

a.

All of the above

b.

To make sound decisions

c.

To raise money for your business

 d.

To help you identify potential weaknesses

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Question 39
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___________ is a company typically in the early stages of its development.

Select one:

a.

An Entrepreneurship
b.

None of the above

c.

A startup  
d.

Pre business
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Question 40
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____________  is defined as an administrative specialization that focuses on hiring and
developing employees to become more valuable to the company.
Select one:

a.

Personnel management 
b.

Organizer
c.

Owners/Staff 
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Question 41
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___________ is all about how the real world market will be reacting towards a particular
development. 
Select one:

a.

Feasibility Study

b.
Market Feasibility

c.

Technical Feasibility
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Question 42
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_____________ is the process of validating the technology assumptions, architecture and
design of a product or project.
Select one:

a.

Market Feasibility
b.

Feasibility Study

c.

Technical feasibility 
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Question 43
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Question text
_____________ is an estimate of future financial outcomes for a company or project, usually
applied in budgeting, capital budgeting and / or valuation
Select one:

a.

Financial Projections

b.

A financial forecast
c.

Financial assistance
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Question 44
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In its simplest form, a financial projection is a forecast of future revenues and expenses.
Select one:

True 

False

Question 45
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A market consists of a group of potential customers with similar needs.

Select one:

True

False 

Question 46
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A generic market is a market with broadly similar needs and sellers offering various and
often diverse ways of satisfying those needs.
Select one:

True 

False

Question 47
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Question text
A generic market description looks at markets narrowly--and from a producer's viewpoint

Select one:

True

False 

Question 48
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A firm's "relevant market for finding opportunities" should be bigger than its present
product-market--but not so big that the firm couldn't expand and be an important
competitor in this market.
Select one:

True 

False

Question 49
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Just identifying the geographic boundaries of a firm's present market can suggest new
marketing opportunities.
Select one:

True 

False

Question 50
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A generic market description should include both customer-related and product-related
terms.

Select one:

True

False