Identify the core questions a business plan should address.
What will be an ideal response?
Answers will vary. A typical business plan is about 25-50 pages long and takes about six months to write. While the specifics may change by industry, the basic elements of any business plan answer these core questions:• What service or product does your business provide, and what needs does it fill?• Who are the potential customers for your product or service, and why will they purchase it from you?• How will you reach your potential customers?• Where will you get the financial resources to start your business?•When can you expect to achieve profitability?
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The Internet has changed the world. Web 2.0:
A) transformed traditional retailing by selling goods and services over the Internet B) offered consumers a way to communicate with each other through e-mail C) creates online communities that connect buyers and sellers in new ways D) provided businesses with an opportunity to advertise effectively on the Internet
Virtual reality endows people with which of the following?
A. teletransportation B. telepresence C. telepathy D. telephonic hearing
Flint Company produces widgets that cost $30 each and have a 5 percent failure rate. If 500 widgets are sold, the entry to record the estimated product warranty expense would be
A) Product Warranty Expense 150 Estimated Product Warranty Liability 150 B) Product Warranty Expense 750 Estimated Product Warranty Liability 750 C) Product Warranty Expense 75 Cash 75 D) Estimated Product Warranty Liability 150 Cash 150
A company issued 190 shares of $100 par value common stock for $22,600 cash. The total amount of paid-in capital in excess of par is:
A. $3600. B. $19,000. C. $100. D. $1900. E. $22,600.