Statements on Competitor Info and Finance Step
CMAT 2024 · Innovation & Entrepreneurship · Medium · Innovation and Entrepreneurship
Given below are two statements : Statement I : An entrepreneur can get a lot of quality information about competitors from company reports and its website. Statement II : First step to avail finance for a new project is Promoter's Biodata.
In the light of the above statement, choose the correct answer from the options given below:
- A.
Both Statement I and Statement II are true
- B.
Both Statement I and Statement II are false
- C.
Statment I is true but Statement II is false
- D.
Statement I is false but Statement II is true
C
Explanation
Statement I is true because company annual reports and official websites provide valuable competitor information. Statement II is false because the first step to seeking finance is preparing a detailed business plan or project proposal, not merely the promoter's biodata.
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