Answer the following statement(s) true (T) or false (F)
1. Most businesses do not need a plan to get started.
2. If your plan is not described in a formal document, chances are you do not really have a plan.
3. Assets, rent, and advisor knowledge would be some of the considerations in the “resources” step of the TRIM planning approach.
4. A plan is a written description of the future you envision for your business, including what you plan to do and how you plan to do it..
5. The purpose of the feasibility study is to provide a short-term plan for launching your business.
6. The pitch deck is a presentation highlighting the essential elements in a feasibility study and business plan.
7. The pitch deck has replaced the formal business plan in most cases.
1. False
2. False
3. True
4. True
5. False
6. True
7. True
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What do we know of the state of business ethics in the ancient world?
What will be an ideal response?
The statistical thinking underlying Six Sigma is based on which of the following three principles?
A. All activities can be controlled, employee empowerment is the best control tool, and 100 percent control is possible. B. Most business processes are subject to control, Six Sigma can totally remove variability in how processes are performed, and most defects can be eliminated. C. All work activities can be done accurately most of the time, empowered employees are necessary for effective control, and good statistical data is an empowered employee's best control tool. D. All work is a process, all processes have variability, and all processes create data that explains variability. E. All work is a statistically controllable process, 100 percent control is possible, and every well-controlled process is defect-free.
A marketing representative who is tempted to engage in price-fixing due to heavy competition and similar prices for competitors' products should:
a. emphasize factors of her product that do not involve price. b. emphasize service, reliability, and other factors of her company. c. understand the serious criminal and civil penalties of engaging in price-fixing. d. All the above.
In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information: Cash balance per company books on April 30$6,275Deposits in transit at month-end$1,300Outstanding checks at month-end$620Bank charge for printing new checks$45Note receivable and interest collected by bank on Donahue's behalf$770A check paid to Donahue during the month by a customer is returned by the bank as NSF$480The adjusted cash balance per the books on April 30 is:
A. $6,520 B. $5,840 C. $4,600 D. $6,900 E. $8,160