Which of the following are four key items typically addressed in a business plan?

• A. Executive summary, marketing plan, financial projections, and organizational structure
• B. Office location, equipment depreciation, petty cash fund, and travel expenses
• C. Customer complaints, supplier contracts, daily sales reports, and payroll schedules
• D. Product pricing, employee benefits, tax returns, and inventory levels

Answer: (A)

Verified step by step guidance

1. Understand the purpose of a business plan: A business plan is a formal document that outlines the goals, strategies, and operational details of a business. It serves as a roadmap for the business and is often used to attract investors or secure financing.
2. Identify the key components of a business plan: The four key items typically addressed in a business plan are the executive summary, marketing plan, financial projections, and organizational structure. These components provide a comprehensive overview of the business's strategy and operations.
3. Define each component: The executive summary provides a concise overview of the business, including its mission, goals, and key highlights. The marketing plan outlines strategies for promoting and selling products or services. Financial projections include forecasts of revenue, expenses, and profitability. The organizational structure details the hierarchy and roles within the business.
4. Compare the options provided in the question: Evaluate each set of items to determine which aligns with the key components of a business plan. For example, office location, equipment depreciation, petty cash fund, and travel expenses are operational details, not strategic components of a business plan.
5. Select the correct answer: Based on the analysis, the correct answer is the set that includes executive summary, marketing plan, financial projections, and organizational structure, as these are the essential elements of a business plan.