Discussion:
Response the below questions in a true or false with reason in order to support the answer
Indicate whether the sentence or statement is true or false
Many new businesses are formed as a result of the entrepreneur's previous work experience, through which he or she sees ways to improve or modify a product
An entrepreneur who starts his or her own business, rather than buying an existing business, avoids the undesirable precedents, policies, procedures, and legal commitments of the existing firm.
As the same plan for a new venture, the busmen plan focuses on the entrepreneur's bank account and other cash sources.
A business plan helps the entrepreneur anticipate the different situations that may occur.
One of the primary functions of a business plan is to serve as a selling document-selling your ideas and even yourself to others.
The prospective investor usually plays the role of the encourager, often seeing market potential in a business plan that others overlook.
The executive summary of a business plan presents a firm's history and its form of organization.
Though all financial statements are important, the cash flow statement deserves special attention.
In order to achieve-market success, a firm merely needs to concentrate on either providing an excellent product/service or devising an insightful marketing strategy.
Most entrepreneurs have an excellent understanding of the field of rivals against which their new venture will compete.
Because of the large amounts of time, effort, and money required, only the largest of firms should consider conducting marketing research.
The primary factor in determining the location for a sawmill would probably be proximity to the market.
Because of its complexity, modern technology has had no noticeable effect in expanding the number of home-based businesses.
The income statement shows a firm's financial position on a specific date.
Jan Woodring is considering investing in a business. To see the firm's financial position over a period of time, she should look at its balance sheet.
A profitable company does not necessarily have positive cash flows.
The entrepreneur has great control over a new venture, making it easier to estimate capital requirements.
Liquidity represents the degree to which a firm can meet maturing short-term debt obligations with available working capital.
According to the textbook, risk is a condition in which there will be a known and adverse deviation from a desired outcome that is expected or hoped for.
Risk management and insurance management are synonymous.