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BUSA Midterm 2 Questions And Answers 2024/2025
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BUSA Midterm 2 Questions And Answers 2024/2025
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BUSA Midterm 2 Questions And Answers2024/2025
True or Flase:
The business plan must establish that there is an opportunity worth exploiting and must detail how to take it vantage of
it. ANS✔✔ True
Which of the following is not a goal of business planning? ANS✔✔ To inform competitors of your intentions
Detailed information which expands upon main areas of your business plan should be included in which portion of the
plan? ANS✔✔ Appendices
Which of the following is the most important part of the business plan? ANS✔✔ Executive summary
The best way to develop a winning business plan is to... ANS✔✔ Go through several iterations to refine the strategy and
business model.
True of False:
The process of managing applies only an institutional setting. ANS✔✔ False
A plan with detailed action steps, that is short term and duration, and is carried out by individuals or small groups is...
ANS✔✔ An operational plan
Pre-planning to deal with unexpected adverse changes is... ANS✔✔ Contingency planning
The process of allocating resources to carry out to companies plan is... ANS✔✔ Organizing
, A job is a position in organizational structure it it's a combination of... ANS✔✔ Authority and responsibility
What form of organizational structure groups people into self-contained units responsible for their own performance?
ANS✔✔ Divisional
What do processes make up the execution phase of managing? ANS✔✔ Directing and controlling
The process of defining a problem, analyzing possible solutions and selecting the best alternative is... ANS✔✔ Decision
making
True or false:
The job description lists the qualifications, skills, knowledge and experience needed to do a job. ANS✔✔ False
True of false:
The actual cost of an employee can be 30% or more greater than the actual wages or salary paid. ANS✔✔ True
The standard term for most business plans is... ANS✔✔ 5 years
True or false:
Typically, a business business begins to generate revenue within the first two months after launches. ANS✔✔ False
The bottom line of the income statement states the companies... ANS✔✔ Net income
The term that describes spending the cost of a fixed assets such as a delivery van over its useful life is... ANS✔✔
Depreciation
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