Question

In the venture life cycle, moving from the development stage to the startup stage frequently begins with the preparation of a business plan. The business plan is a written document that describes the proposed venture in all of the following terms except:

a. the proposed product or service opportunity
b. the accounting data for the last five years
c. current resources available to the venture
d. financial projections

Answer 1

The correct answer is letter "B": the accounting data for the last five years.

Step-by-step explanation:

A Business Plan is a written document that states how a company will achieve its goals. Few good companies last long without one. Business plans give direction to new companies, while established ones used them to determine new ventures. A business plan should paint a clear picture of the costs and drawbacks that come with each important decision.

Requesting and analyzing accounting data for the last five years is not included in the making of a business plan.