Which of the Following Statement Is Incorrect About Business Plans

question 56

Multiple Choice

Which of the following statement is incorrect about business plans?

• A) Writing a business plan forces a firm's founders to systematically think through each aspect of their new venture.
• B) For most new ventures, the business plan is a dual-purpose document used both inside and outside the firm.
• C) A business plan is typically 25 to 35 pages long.
• D) A large percentage of entrepreneurs do not write business plans for their new ventures.
• E) The business plan should be written while the feasibility analysis is being completed.

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Definitions:

Conclusions

are final parts of documents, presentations, or research that summarize the information presented, reinforce the main points, and often provide recommendations or a call to action.

Recommendations

Advice or suggestions offered concerning prudent future actions, typically based on experience or knowledge.

Competitive Bids

Offers made by businesses or individuals in an attempt to win a contract, often through a formal bidding process, where the most appealing bid in terms of price, quality, and terms usually wins.

RFP

Request for Proposal; a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset.