Assignment:
Question 1. What are the benefits of the budgeting process?
Question 2. Describe how an operating budget is constructed.
Question 3. Describe how a cash-flow budget is constructed.
Question 4. Describe how a capital budget is constructed.
Question 5. What is a ratio analysis? How is horizontal analysis different from vertical analysis?
Question 6. What is a business plan?
Question 7. Describe each of the five planning pitfalls entrepreneurs often encounter.
Question 8. Identify the benefits of a business plan (a) for an entrepreneur and (b) for financial sources.
Question 9. Briefly describe each of the major segments to be covered in a business plan.
Question 10. Outline some of the critical points to capture in an elevator pitch.