A Business Plan Performs a Number of Functions Including

question 40

Multiple Choice

A business plan performs a number of functions including:

• A)identifying how many employees will be needed in the business start-up phase.
• B)attracting capital for the start-up.
• C)providing the entrepreneur with a plan for managing inventory.
• D)providing the basis for purchasing property and casualty insurance for the new company.

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Definitions:

Employer Contributions

Monetary amounts contributed by employers towards employee benefits like pension plans, health insurance, and other welfare schemes.

Employment Insurance

A government program designed to provide financial assistance to individuals who are unemployed through no fault of their own.

Workers' Compensation Insurance

Insurance that provides medical benefits and wage replacement to employees injured in the course of employment.

Compensation and Benefits Costs

The total expenses associated with the pay and advantages, like health insurance and retirement plans, provided to employees.