Multiple Choice
If you have 7,000 pennies, how many dollars do you have?
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1. Introduction to Accounting
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What is the main purpose of developing a business pitch?
A
To clearly communicate a business idea and persuade potential investors or stakeholders to support it.
B
To prepare financial statements for regulatory compliance.
C
To calculate the company's tax liability for the fiscal year.
D
To record daily business transactions in the accounting system.
Verified step by step guidance1
Understand the context of the question: A business pitch is typically used in the context of presenting a business idea to potential investors, stakeholders, or partners.
Analyze the options provided: The first option mentions 'clearly communicating a business idea and persuading potential investors or stakeholders,' which aligns with the purpose of a business pitch.
Evaluate the other options: Preparing financial statements for regulatory compliance, calculating tax liability, and recording daily transactions are accounting-related tasks, not the purpose of a business pitch.
Identify the key purpose of a business pitch: It is to present a compelling case for why the business idea is viable and to secure support, whether financial or otherwise.
Conclude that the correct answer is the first option, as it directly addresses the purpose of a business pitch, which is to communicate and persuade.
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