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Test Financial projections
Agenda
QUESTION 1: WHICH OF THESE IS NOT ONE OF THE OBJECTIVES OF FINANCIAL PROJECTIONS?
To determine the possible growth of your business and to create a sensible budget
To determine your market niche
To attract investors
To secure loans from banks or financial institutions
QUESTION 2: WHAT DO WE NOT COUNT ON TO MAKE SALES PROJECTIONS AS A NEW COMPANY?
With the help of more experienced entrepreneurs
With the price of our services or products
With past projections
With industry financial data
QUESTION 3: WHAT PERCENTAGE OF THE EXPENSE BUDGET SHOULD BE SET ASIDE FOR UNFORESEEN EXPENSES?
0,25
0,2
0,1
0,15
QUESTION 4: WHAT IS THE LAST STEP IN MAKING YOUR FINANCIAL PROJECTIONS?
Projected expenses
Cash flow projection
Projected income statement
Balance projection
QUESTION 5: WHAT PERCENTAGE OF NEW VENTURES FAIL?
0,9
0,8
0,75
0,95
QUESTION 6: DO YOU NEED TO HAVE AT LEAST A BASIC UNDERSTANDING OF THE FINANCIAL ASPECTS OF YOUR BUSINESS TO BE SUCCESSFUL?
No
Yes
QUESTION 7: IN WHICH STEP OF THE FINANCIAL PROJECTIONS DO YOU TAKE INTO ACCOUNT THE COMPARISON OF PRODUCTION WITH PROFITS?
Cash flow projection
Projected income statement
Projected expenses
None of the above
QUESTION 8: WHAT POINT OF VIEW SHOULD YOU USE WHEN PREPARING YOUR BUSINESS PLAN?
That of a relative or friend
A customer's
That of an investor
That of a competitor
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INCORRECT QUESTIONS
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Are there any errors or improvements?
Where is the error?
What is the error?
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