When you're writing a business plan, the ________ section explains the purpose of your business and ...

Answer to #1

Answer: A
Explanation: A) The mission and objectives section of a business plan explains the purpose of a business and what that business hopes to accomplish.

Answer to #2

Answer: A
Explanation: A) Informational reports typically focus on comparing two or more entities, identifying the steps in a process (sequence), or ranking entities (importance). Reports do not typically focus on measuring complexity.

Answer to #3

Answer: B
Explanation: B) Federal taxes are government rules that businesses and corporations must comply with. Therefore, a tax report is a type of compliance report.

Answer to #4

Answer: A
Explanation: A) A progress report is an update on how well the company is doing with regard to specific goals, targets, and deadlines. Progress reports can be simple or comprehensive. A comprehensive progress report would feature extensive data showing how targets and goals are being met (or not met).

Answer to #5

Answer: C
Explanation: C) All businesses are required to demonstrate that they are in compliance with regulations and rules for their particular form of business. Since the government writes and administers the laws that businesses are required to follow, compliance reports are submitted to the government for examination.

Answer to #6

Answer: B
Explanation: B) Ask open-ended questions to solicit opinions, insights, and information. Ask closed questions to elicit a specific answer, such as yes or no.

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