4. Requesting funds for working capital suggests that the business is not a solid investment. (1 point)
true
false

5. If a product is still in development, the business plan needs to explain its status. (1 point)
true
false

6. While business plans are designed to change, a company's mission statement should remain
the same
(1 point)
true
false

7. If a business has only one owner, it does not need an Organization and Management section. (1 point)
true
false

Question 4. False

Question 5. True

Question 6. False

Question 7. False

Explanation:

Question 4. False

The reason is that requesting funds from lenders for financing the working capital doesn't mean that the business is not a solid investment, because the profitability decides whether the investment is solid or not, not the borrowings. So the statement is false.

Question 5. True

The reason is that the business plan must describe the product's development phase growth and what are our realistic expectations from the product. It also includes the capabilities and objectives we expect from the product to achieve in real life.

Question 6. False

The reason is that the mission statement can be altered depending upon the situation. So business plan can include a new mission with the changes recommended which we think will bring prosperity.

Question 7. False

The reason is that the organization and Management are the things that would bring value to the business and this vital knowledge an owner of the business must have better control of the operations of the business.