There Are Three Types of Business Plans

question 9

Multiple Choice

There are three types of business plans:

• A) functional business plan, full business plan, feasibility plan
• B) summary business plan, contingency plan, full business plan
• C) functional business plan, contingency plan, full business plan
• D) opportunity plan, feasibility plan, full business plan
• E) summary business plan, full business plan, operational business plan

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Definitions:

Adequacy of Consideration

The sufficiency of value exchanged in a contract that must be present for the agreement to be legally binding.

Warranty

An express or implied promise by a seller that specific goods to be sold meet certain criteria, or standards of performance, on which the buyer may rely.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States.

Disclaim Warranties

A statement made by a seller that specifies they are not providing guarantees about the condition or quality of goods being sold.