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:

Principal Value

The original sum of money invested or loaned, before interest or any profit earned.

Note Receivable

An asset on the balance sheet representing money owed to the holder by a debtor, which includes an obligation to pay both the principal and interest.

Dishonoured

Refers to a financial instrument, such as a check or a bill, that is not paid upon presentation for settlement.