Business Studies Multiple Choice Question – 6 March 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Business Studies

Lucy is looking to open another jewelry store across town and is in the process of preparing a business plan to help her make the decision one way or another.

Which one of the following is a reason to produce a business plan?

Select ONE answer:

  1. To include personal details of staff who will be employed
  2. To provide an opportunity to attract more customers
  3. To guarantee that the business makes a profit
  4. To help gain potential investors

 

Show the workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Business Studies KS4 & KS3 classes

The answer is 4:

  1. To include personal details of staff who will be employed – is not correct because a business plan would not include personal details.
  2. Provides an opportunity to attract more customers – is not correct because customers will not see the business plan.
  3. Guarantees that the business makes a profit – is not correct because a business plan can estimate profits but cannot guarantee them.
  4. Helps to gain potential investors – is correct because it provides investors with the information they require.

 

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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