Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Question
The two primary audiences for a firm's business plan are a firm's employees and investors and other external stakeholders.Answer
This answer is hidden. It contains 4 characters.
Related questions
Q:
The fact that companies often falter because the people who start the firms can't adjust quickly enough to their new roles and because the firm lacks a "track record" with outside buyers and sellers, is referred to as the ________.
A) liability of preparedness
B) liability of newness
C) burden of novelty
D) burden of freshness
E) millstone of innovation
Q:
Describe each of the four primary financial objectives of firms.
Q:
The pro forma ________ provides a firm a sense of how its activities will affect its ability to meet its short-term liabilities and how its finances will evolve over time.
A) balance sheet
B) statement of cash flows
C) income statement
D) expense statement
E) statement of owners' equity
Q:
A firm's pro forma financial statements are similar to its historical financial statements except that they ________.
A) do not include the income statement
B) are required by the SEC in all cases
C) look back rather than forward
D) look forward rather than back
E) do not include the statement of cash flows
Q:
The break-even point for a new restaurant or product is the point where the total revenue received equals total costs associated with the output of the restaurant or the sale of the product.
Q:
Describe the purpose of the income statement, the balance sheet, and the statement of cash flows.
Q:
The statement of cash flows summarizes the changes in a firm's cash position for a specified period of time and details why the change occurred.
Q:
According to the textbook, the most practical way to interpret or make sense of a firm's historical financial statements is through ________.
A) profit analysis
B) regression analysis
C) the preparation of pro forma financial statements
D) ratio analysis
E) percentage analysis
Q:
A firm's ________ is its current assets divided by its current debt.
A) working share
B) present share
C) working capital
D) owners' equity
E) current ratio
Q:
A firm's working capital is its ________.
A) inventory and accounts receivable minus its current liabilities
B) current assets minus its current liabilities
C) total assets minus its total liabilities
D) cash and cash equivalents minus its current liabilities
E) accounts receivable minus its total accounts payable
Q:
A firm's profit margin, or return on sales, is computed by dividing ________.
A) net income by net sales
B) gross profit by net sales
C) net income by gross profit
D) net income by cost of sales
E) operating income by gross profit
Q:
Which of the following selections correctly matches the financial statement with its description?
A) Income statement tells how much a firm is making or losing
B) Income statement depicts the structure of a firm's assets and liabilities
C) Balance sheet shows where a firm's cash is coming from
D) Balance sheet tells how much a firm is making or losing
E) Statement of cash flows depicts the structure of a firm's assets and liabilities
Q:
Historical financial statements reflect past performance and are usually prepared on a quarterly and annual basis.
Q:
The Partnering for Success feature in Chapter 8 focuses on buying groups, and recommends that small businesses seek out buying groups to participate in. What is a "buying group" in the context of the feature?
A) A partnership that bands small businesses together to attain volume discounts on common products and services that they buy
B) A partnership that bands small businesses together to collectively make the commitment to "buy local" at every available opportunity
C) A partnership that bands small businesses together to get the best prices possible from foreign importers and manufacturers
D) A partnership that bands small businesses together to get the best possible terms from finance companies
E) A partnership that bands small businesses together to get the best possible rates on property and liability insurance
Q:
A financial statement is a(n) ________.
A) set of ratios which depict relationships between a firm's financial items
B) estimate of a firm's future income and expenses
C) hybrid statement of cash flows
D) itemized forecast of a company's income, expenses, and capital needs
E) written report that quantitatively describes a firm's financial health
Q:
Efficiency is the ability to earn a profit.
Q:
Match the financial objective with its correct definition.
A) stability the overall health of the financial structure of the firm, particularly as it relates to its debt-to-equity ratio
B) profitability how productively a firm utilizes its assets
C) liquidity a company's ability to make a profit
D) efficiency a company's ability to meet its short-term obligations
E) profitability the overall health of the financial structure of the firm, particularly as it relates to its debt-to-equity ratio
Q:
Financial management deals with raising money and managing a company's finances in a way that achieves the highest rate of return.
Q:
If the owners of a corporation don't file their annual paperwork, neglect to pay their annual fees, or commit fraud, a court could ignore the fact that a corporation has been established and the owners could be held personally liable for the actions of the corporation. This chain of events is referred to as ________.
A) vacating the corporate status
B) yielding the corporate privilege
C) surrendering the corporate shield
D) piercing the corporate veil
E) capitulating the corporate doctrine
Q:
Which of the following is not one of the "red flags" listed in the textbook that raises questions about one of more aspects of a company's business plan?
A) Founders with none of their own money at risk
B) Defining the market size too narrowly
C) A poorly cited plan
D) Sloppiness in any area
E) Overly aggressive financials
Q:
According to studies citied in the book, a large percentage of entrepreneurs write business plans for their ventures.
Q:
Peter Watson is thinking about launching a small business consulting company. To get advice on how to proceed, he stopped by his local Small Business Administration (SBA) office. The SBA advisor told Peter that one of the first things he needs to do is to sit down and write a 25 to 35 page narrative that describes what his new business plans to accomplish and how it plans to accomplish it. The SBA advisor is telling Peter to write a(n) ________.
A) tactical plan
B) marketing plan
C) operations plan
D) business plan
E) feasibility analysis
Q:
What is competitive intelligence? What are some of the ways that a firm can ethically obtain information about its competitors?
Q:
A corporation is formed by filing ________ with the Secretary of State's office in the state of incorporation.
A) a certificate of intent to incorporate
B) articles of business
C) corporate credentials
D) a corporation permit
E) articles of incorporation
Q:
Most C corporations have two classes of stock ________ and ________.
A) premium; normal
B) common; preferred
C) standard; substandard
D) regular; special
E) ordinary; distinct
Q:
All of the following are advantages of a sole proprietorship except ________.
A) creating one is easy and inexpensive
B) unlimited liability
C) it is not subject to double taxation
D) the owner maintains complete control of the business
E) business losses can be deducted against the sole proprietor's other sources of income
Q:
A founders' agreement is a written document that deals with issues such as the relative split of the equity among the founders of the firm.
Q:
Steven Diaz just took a job with Harley Davidson. As part of his employment agreement, Harley Davidson required Steven to sign an agreement, which states that if he leaves Harley Davidson, he will not work for a firm that competes against Harley Davidson for at least two years. The agreement that Steven signed is called a ________ agreement.
A) nondisclosure
B) nonparticipate
C) nonchallenge
D) noncompete
E) noncontend
Q:
Which of the following is typically not included in the founders' agreement for a firm?
A) Marketing plan
B) Legal form of business ownership
C) Buyback clause
D) Apportionment of stock
E) Identity and proposed titles of the founders
Q:
Describe the purpose of a nondisclosure agreement. Provide an example of when a nondisclosure agreement kicks in.