Renaldo Is Creating a Business Plan

question 103

Multiple Choice

Renaldo is creating a business plan. His first formal step should be to

• A)secure financing.
• B)write a business plan.
• C)conduct an opportunity analysis.
• D)get others to support one's ideas.
• E)hire the right people.

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Definitions:

Decrease Rate

A term that may refer to the rate at which a value is reducing over a period of time.

Compounded Quarterly

The calculation of interest on both the original principal and previously earned interest every three months.

Lump Sum Payment

A single payment made at one time, in contrast to smaller, periodic payments.

Lump Sum Payment

A one-time payment made specifically rather than multiple smaller payments over time.