Use the Following to Answer Questions

question 35

Multiple Choice

Use the following to answer questions:
Scenario 4-1. Jean is contemplating opening her new small business called Jean's Gems. She realizes that the first step in beginning her new business is writing a business plan. Since she has never started her own business before, she has many questions. She has attempted to follow an outline she found in an old newspaper article. Her first rough draft contained over 75 pages and now she is discouraged with the process. In fact, she is not even sure if she needs to continue. As in the case of many small business entrepreneurs, funds are limited. If you were Jean, what would you do?
-In Scenario 4-1 above, all but which of the following are reasons Jean should continue writing her business plan?

• A) To help in her efforts to raise capital
• B) To help provide direction for her business in the long run
• C) To ensure the feasibility of her business idea
• D) To help provide direction in her business in the short run

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Definitions:

Liquidation

is the process of bringing a business to an end and distributing its assets to claimants, often occurring when a company is insolvent.

Chronically Unemployed

Individuals who experience long-term unemployment, often due to systemic issues, lack of skills, or significant shifts in the economy, facing difficulties in finding stable work.

White Urban

Referring to the demographic and sociocultural aspects of urban areas predominantly inhabited or characterized by white populations.

African-Americans

Individuals in the United States with partial or total ancestry from any of the black racial groups of Africa.