A ____ is considered a blueprint for a company.

• A. partnership agreement
• B. income statement
• C. balance sheet
• D. business plan

Answer: (D)

Verified step by step guidance

1. Understand the concept of a 'blueprint' for a company. A blueprint serves as a detailed plan or guide for how a company will operate, grow, and achieve its goals.
2. Review the options provided: partnership agreement, income statement, balance sheet, and business plan. Each term has a specific meaning in financial accounting and business management.
3. A partnership agreement is a legal document outlining the terms and conditions of a partnership between two or more parties. It is not a blueprint for the company as a whole.
4. An income statement is a financial report that shows a company's revenues, expenses, and profits over a specific period. While important, it does not serve as a comprehensive plan for the company.
5. A business plan is a detailed document that outlines the company's objectives, strategies, market analysis, financial projections, and operational plans. It is considered the blueprint for a company because it provides a roadmap for its success.