Correct Response: A. A business plan is a detailed document that describes the goals of a business and how the business will achieve those goals. Once the business has been in operation for a year, the plan would be referenced to reassess goals and operations and to make any necessary adjustments to it due to the changing nature of the business climate. The initial version of the business plan would be used to provide information for start-up financial backers, and would most likely not be used for that purpose a year into the business (B). A promotional strategy would be included in the marketing plan. The marketing plan goes into more detail than the business plan, which covers all aspects of the business (C). Monthly financial reports are prepared for accounting purposes and are too specific and detailed to be part of the business plan (D).
