June 2024

Question 1

What is a primary data source mentioned?

Answer 1

Census

Census data is collected by government agencies and provides demographic information.

Question 2

What method is used for making contact with consumers?

Answer 2

Person survey

A person survey involves direct interaction with individuals to gather data.

Question 3

What are the two main sources of income for any business?

Answer 3

• Debt
• Equity

Debt refers to borrowed funds, while equity involves ownership stakes in the business.

Question 4

What is the term for the possibilities in the external environment that can help achieve business objectives?

Answer 4

Opportunities

Opportunities can arise from market trends, economic changes, and other external factors.

Question 5

What is included in the total pre-operating costs?

Answer 5

• Fixed costs
• Operating expenses
• Start-up costs

These costs are incurred before a business begins operations.

Question 6

What sales promotion method is mentioned?

Answer 6

Coupons

Coupons are discounts offered to encourage purchases.

Question 7

What is a key quality that helps maintain a competitive advantage?

Answer 7

Friendliness

A friendly approach can enhance customer service and loyalty.

Question 8

What type of research is conducted by another organization?

Answer 8

Secondary data research

Secondary data research utilizes existing data collected by others, such as reports or studies.

Question 9

What does a well-drawn cover page of a business plan help to do?

Answer 9

Look neat

A neat cover page gives a professional impression of the business plan.