Which of the Following Is True About the Preparation of a Business

question 28

Multiple Choice

Which of the following is true about the preparation of a business plan?

• A)The format should follow a "cookie-cutter" approach to ensure uniformity and consistency with others and to promote ease of understanding.
• B)The elements of the plan may be standard,but the content should reflect the unique aspects of the business and the excitement of the entrepreneur.
• C)The plan should cover every standard element in great detail and be at least 100 pages long to prove to potential lenders and investors that the entrepreneur has studied the business and the market opportunity.
• D)Entrepreneur should avoid seeking the advice of professionals,such as accountants,business professors,and attorneys.

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Definitions:

Common Good

The benefit or interests of all participants or members of a community or society considered as a whole.

Inner-city Areas

Inner-city areas describe the central sections of larger cities, often characterized by higher population density, historical significance, and sometimes socioeconomic challenges.

Social Justice

The concept of fair and just relations between the individual and society, often pursued through policies ensuring equitable distribution of wealth, opportunities, and privileges.

Fairness

The state, condition, or quality of being fair, impartial; treating individuals equally without favoritism or discrimination.