Question

To get external financing, an entrepreneur's business plan must pass the reality test, the competitive test, and the value test with potential lenders and investors.

True
False

Answer 1

true it's true

Step-by-step explanation:

When seeking external financing for a business, such as loans or investments, the business plan is crucial. It needs to pass certain tests to convince potential lenders and investors that it is a viable and promising opportunity. These tests typically include the reality test, the competitive test, and the value test