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Black CEO Factory Exam for Module # 2

According to Dr Boyce, what should NOT be in a business plan?
Who you are going to serve
How your business is going to operate
The amount you will pay in taxes
How you're going to serve your customers
The money you receive to invest in your business is called ______________
Capital
Taxes
Revenue
French fries
If you do not make a plan for success, you are making a plan for ___________
Pudding
Failure
Business
Marketing
True or false: To start a business, you must borrow lots of money
True
False
According to Dr Boyce, what's the best way to become a better entrepreneur?
Stop eating chicken
Get more training
Invest more money
Buy stock
True or false: Entrepreneurs must know how to do everything inside the company
True
False
Team building and getting help from others is what Dr Watkins calls ________________
Delegation
Playing basketball
Entrepreneurship
A business plan
Which is NOT one of the ways that Dr Boyce listed for people to get money to start their business?
Money from investors
Debt
Your own money
Donations from church
The things you need to buy to get the business started are called ____________________
Assets
Wealth
Expenses
Profit
True or false: In the example Dr Boyce gave, the cost of a factory would be a fixed cost
True
False
If a business earns $1,000 per week and has to pay 4 employees $100 apiece, how much is the profit?
$1,000
$100
$400
$600
If you make less money than you spend in expenses, will you make a profit?
Yes
No
The amount of money you get back from your investment is called _____________
Profit
Expenses
Return on Investment
Capital
The things you have to keep paying even after the business is running is called ____________________
Revenue
Profit
Investment
Expenses
The people who put money into your company are called _________________
Friends
Investors
Employees
Debt
The things you must buy in the beginning of a business to get started are called ________________
Assets
Expenses
Cashflow
Customers
 
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