Question

1. what is a business plan?

a) a contract with customers
b) a detailed plan for marketing only
c) a document outlining the goals, strategies, and structure of a business
d) a tax document for businesses

1. what does roi stand for in business?

a) return on investment
b) rate of interest
c) risk of investment
d) revenue over income

1. which of the following is a fixed cost?

a) raw materials
b) utilities
c) employee wages (hourly)
d) rent

1. what is bootstrapping?

a) using external funding to start a business
b) starting a business using personal savings and minimal external help

Explanation:

• For question 2: A business plan is a comprehensive document that details a business's goals, strategies, and structure. It's not just about marketing or a customer - contract or a tax document.
• For question 3: ROI is a well - known financial metric in business that stands for Return on Investment, which measures the profitability of an investment.
• For question 4: Fixed costs are expenses that do not change with the level of production or sales volume. Rent is a fixed cost as it remains the same regardless of business output, while raw materials, utilities, and hourly employee wages can vary.
• For question 5: Bootstrapping refers to starting a business using personal savings and minimal external help instead of relying on external funding.

Answer:

1. C. A document outlining the goals, strategies, and structure of a business
2. A. Return on Investment
3. D. Rent
4. B. Starting a business using personal savings and minimal external help