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3 years ago

Which of these statements about a business plan is true?

Business

1 answer:

ioda3 years ago

6 0

Answer:

C. A business plan is a business’s roadmap for the future.

Explanation:

A business plan states formally the goals of the company; it shows the tasks that must be performed to reach those big goals and shows the financlal ways that could or should be used to accomplish the goals.

The business plan permits to understand how the business work and, thus, gives the basis for future actions. It is a tool of organization, direction, and communication, and the basis to develop a financial plan. In brief words: what the company wants to do and how it inteds do it.

A. Businesses do not need to document a business plan.

FALSE.

The business plan must be formal, not just an idea or view in the mind of the owners or managers, as such it must be documented.

B. Established businesses do not create a business plan.

FALSE.

Business plans change with time. As much as starting business, established business must periodically review the conditions and goals and update, or even importantly change the business plan.

C. A business plan is a business’s roadmap for the future.

TRUE.

Business plan gives direction, the ways to reach the goals, the tasks to be performed.

D. A business plan guarantees a business’s success.

FALSE.

Success is never guaranteed. Risk is intrinsic to all the human activities. Complexity of human interactions and changing circumstances do not permit to guarantee that a plan guarantees the success. That is why business plans must be revised and ajusted or changed to adapt the goals and the actions to be the most sucessfull possible, but without guarantees.

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Scenario:

Naddik [55]

Answer:

Step 1

The equation for each step is given below.

let x be the value of investment and n time period, then

Option 1 X= 25000 (1.0525)^N

Option 2 X= 25000 (1.05875)^N

Option 3 X= 25000 (1.0562)^N (annual return = (1+5.5/4)^4-1))

Step 2

By solving each equation given in above subject we can calculate value under each option (N=6)

Option 1 X= 25000 (1.0525)^6 = 33,984

Option 2 X= 25000 (1.05875)^6 = 35,213

Option 3 X= 25000 (1.0562)^6 = 34,707

Step 3

Thes best is to go with option 2 as it will give high return.

5 0

4 years ago

Trevor is a single individual who is a cash-method, calendar-year taxpayer. For each of the next two years (2020 and 2021), Trev

labwork [276]

Answer and Explanation:

Please find answer and explanation attached

7 0

4 years ago

The "Repo Man" recently repossessed your car for failure to make payments. You still owed $5,000 on the loan, but since it wa

I am Lyosha [343]

Answer:

$2,500

Explanation:

Loan amount = $5,000

The car was auctioned for $3,000 and the parties involved in the auction transaction has to be paid before net income can be recognized.

Auction amount = $3,000

Less; Repo Man's Fee = ($200)

Attorney's Fee = ($300)

Net amount = $2,500

Loan amount = $5,000

Less net amount = ($2,500)

Loan Balance = $2,500

6 0

3 years ago

One benefit of attending a technical school program is

photoshop1234 [79]

Answer:

C. lower costs to attend

Explanation:

A technical school is a two year college program in fields like business, engineering, community work, among others. One of the benefits of attending a technical school program is the lower costs to attend compared to a four year college as the programs are shorter which means that the tuition fees are lower. Also, in most cases, the tuition in a technical school includes all the things that the student will need in the program, for example, books.

8 0

3 years ago

Your company manufactures and sells a variety of personal care products such as hair dryers and curling irons. Every hair dryer

sleet_krkn [62]

Answer:

Product Implied Warranty

According to the Uniform Commercial Code, a product warranty guarantees that a product will work when used for its intended purposes. There are two key types of implied warranties: merchantability and fitness. The implied warranty of merchantability states that a product will meet reasonable expectations of the buyer. The implied warranty of fitness means that the product will meet the buyer's intended use.

Based on the above, we can conclude that the implied warranty of merchantability actually exists for the hair dryer. However, Patrick clearly violated it in this situation through the accident of dropping it in water.

Having thus violated the warranty, he cannot reasonably recover any damages from the company.

Explanation:

a) Facts of the case:

1. Every hair dryer is properly labeled and contains safety precautions against misuse.

2. The SF9000 hair dryer that Patrick purchased functioned properly for a month.

3. Patrick accidentally drops the hair dryer in water, causing him an electric shock.

4. Patrick sues for breach of the implied warranty of merchantability.

5 0

3 years ago