A Common Mistake in Business Planning Is Using Acronyms and Technical

question 52

True/False

A common mistake in business planning is using acronyms and technical jargon without clearly explaining them early in the business plan.

---

Definitions:

Revolving Line of Credit

A credit arrangement that allows a borrower to use, repay, and re-borrow funds up to a specified credit limit.

Intergovernmental Organization

An entity created by treaty, involving two or more nations, to work on issues of common interest or cooperation.

Money

A medium of exchange that allows the transfer of value, typically in the form of coins and banknotes.

Domestic Currency

The legal currency issued by a country's central bank or monetary authority that is used for transactions within the country.