1. What are the benefits of the budgeting process?
2. Describe how an operating budget is constructed.
3. Describe how a cash-flow budget is constructed.
4. Describe how a capital budget is constructed.
5. What is a ratio analysis? How is horizontal analysis different from vertical analysis?
6. What is a business plan?
7. Describe each of the five planning pitfalls entrepreneurs often encounter.
8. Identify the benefits of a business plan (a) for an entrepreneur and (b) for financial sources.
9. Briefly describe each of the major segments to be covered in a business plan.
10. Outline some of the critical points to capture in an elevator pitch.