ASTI BM1911 Name: Section: Date: Score: Directions: Read the instructions and all the items in each test type carefully. Use black or blue pen ink only. Avoid any form of erasure, alteration, and superimposition on the final answer. I. IDENTIFICATION: Identify what is being asked in the following items. (5 items x 2 points) 1. This statement tells where the company is headed. 2. It is a trait of mission and vision statements, which tells what the business wants to undertake or the changes it wants to make. 3. It is a document that details the enterprise's strategies for achieving them. This section of the business plan projects how the enterprise is expected to perform financially over the next couple of years. 5. This part of a business plan denotes the plans to attain the market objectives of the business. II. TRUE OR FALSE: Write T if the statement is correct; otherwise, write F. (5 items x 2 points) 1. Business plans often require supporting documents such as the technopreneur's resume, contracts, letters of intent, tax returns, and other important papers. 2. Business model canvases are commonly used by huge companies. 3. Limited partnership involves a general partner who oversees the operation and is responsible for the liabilities incurred during the operations. 4. Sole proprietorship is a type of business that is being run by two (2) entities. 5 . In reporting the industry analysis in the business plan, one must include either a TOWS, SWOT, or PESTEL analysis. III. ESSAY: Answer the following question on the space provided or at the back of this sheet, as needed. (10 points) 1. Why do start-up companies prefer to use the Business Model Canvas instead of the conventional business plan?

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