Entrepreneurship and business plans

Question 1 of 10

A business plan is

A. a written document setting out a business's goals and how it will achieve them B. a type of loan C. a tax return D. an advertisement

Question 2 of 10

The part of a business plan that summarises the whole plan is the

A. executive summary B. appendix C. cash flow forecast D. organisation chart

Question 3 of 10

Cash-flow forecasting helps a new business to

A. anticipate periods of cash shortage B. calculate taxes only C. design logos D. hire staff

Question 4 of 10

A start-up with fixed costs GH¢6,000 a month, price GH¢50 and variable cost GH¢20 per unit must sell at least how many units monthly to break even?

A. 200 B. 120 C. 300 D. 150

Question 5 of 10

The marketing plan section of a business plan describes

A. how the business will reach and attract customers B. the owner's family C. the building design only D. tax returns

Question 6 of 10

Which is a source of finance for a small business in Ghana?

A. microfinance institutions B. the Supreme Court C. the Electoral Commission D. the police

Question 7 of 10

Start-up capital is

A. money needed to begin a business B. profit after one year C. a bank fee D. tax paid

Question 8 of 10

Net present value (NPV) of a project is positive when

A. discounted cash inflows exceed the investment B. payback is long C. profit is zero D. costs exceed revenue

Question 9 of 10

The payback period of a GH¢60,000 investment returning GH¢15,000 a year is

A. 4 years B. 15 years C. 6 years D. 2 years

Question 10 of 10

Which is a source of start-up finance for a small business?

A. personal savings B. dividends paid to others C. tax refunds to customers D. wages paid

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New set of questions

Questions written by OtisamLMS in the style of the WASSCE. They are not WAEC past questions.

Past questions, worked solutions and curriculum-mapped study material for JHS and SHS students and teachers in Ghana.

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