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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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The sources of economic growth are _______. A. work hours growth and labor productivity growth B. democracy and labor productiv

Luden [163]

Answer:

A. work hours growth and labor productivity growth

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Free market economy.

III. Traditional economy.

IV. Command economy.

Generally, the sources of economic growth of a country are work hours growth and labor productivity growth.

Labor (working) is simply the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

7 0

2 years ago

Assume your university earns an average rate of return of 5.65 percent on its endowment funds. If a new gift permanently increas

Dennis_Churaev [7]

Answer:

The amount of the gift is 566,371.6814

Explanation:

Average rate of return = Average net profit / average investment

Average rate of return = 5.65% (5.65/100 = 0.0565)

average net profit = 32000

average investment = unknown

to calculate the amount of the gift which is investment in this case the same formula for Average rate of return will be used i.e

Average rate of return = Average net profit / average investment

0.0565 = 32, 000/ x

cross multiply

0.0565 x = 32,000

divide both sides by 0.0565

x = 32,000/0.0565

32,000/ 0.0565 = x

x = 566,371.6814

The amount of the gift is 566,371.6814

6 0

2 years ago

Avon Products, Inc., located in New York City, is one of the world’s largest producers of beauty and related products. The compa

kvv77 [185]

Answer:

a) Accounts Receivable 2015 = $443,000 2014 = $515,600

b) Bad Debt Expense = $144,100

c) Gross sales = $6,083,300

d) Cash collected from Customers = $6,005,000

Explanation:

a and b are given.

c) Gross Sales = $6,076,500 + $6,800 = $6,083,300

d) Cash collected = opening balance in Account receivable + credit Net sales - Bad debt - Closing balance in Accounts Receivables

= $515,600 + $6,076,500 - $144,100 - $443,000

=$6,005,000

4 0

3 years ago

Which one of the following is not true concerning socializing in the workplace? A. Socializing can keep you from reaching y

postnew [5]

The correct answer is D. Socializing can actually increase productivity. Although socializing outside of work can be productive for the work itself later on, socializing in the workplace can deter you from working and can ultimately be bad for the company. If you're always running around form office to office having fun and not working you're not doing your company a favor.

6 0

3 years ago

BruceCo is planning on selling coffee cups for $14 each. The company can buy the cups for $2.00 and have them printed for $1.50.

s2008m [1.1K]

Answer:

Explanation:

Add all the expenses together ( $2.00 + $1.50 + 0.50 +1,000 = 1004) divide 1004 by $14 to get 72

4 0

3 years ago