The ________ Test That a Business Plan Must Pass in Order

question 70

Multiple Choice

The ________ test that a business plan must pass in order to attract financing from lenders and investors involves proving that a market for the company's product or service actually does exist and that the company actually can build it for the cost estimates included in the plan.

• A) reality
• B) competitive
• C) value
• D) profitability

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Definitions:

Biotechnology Patents

Legal protections granted for inventions and processes in the field of biotechnology, safeguarding the rights of inventors.

Agriculture Industry

The sector of the economy concerned with the production, processing, and distribution of food, fiber, and other goods through farming and forestry.

Political Skill

The ability to understand others and use that knowledge to influence or guide their behavior to obtain desired outcomes within a political or organizational context.

Organizational Goals

The objectives or targets that an organization aims to achieve, typically designed to guide its strategic direction.